JPMorgan plans autocallable contingent interest notes tied to Lennar

By Jennifer Chiou

New York, May 21 - JPMorgan Chase & Co. plans to price autocallable contingent interest notes due June 10, 2015 linked to the class A common stock of Lennar Corp., according to an FWP with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 12.1% if Lennar shares close at or above the trigger level, 80% of the initial share price, on the review date for that quarter.

The notes will be called at par plus the contingent coupon if Lennar shares close at or above the initial share price on any quarterly review date other than the final review date.

If the notes have not been called and the stock finishes at or above the trigger level, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be fully exposed to any losses.

The notes (Cusip: 48127DJV1) are expected to price on May 23 and settle on May 29.

J.P. Morgan Securities LLC is the agent.

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