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JPMorgan plans contingent coupon callable yield notes on Prudential
New York, June 9 – JPMorgan Chase Financial Co. LLC plans to price contingent coupon callable yield notes due July 2, 2018 linked to the common stock of Prudential Financial, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of at least 7.75% if the stock closes at or above its trigger value, 65% of its initial level, on the observation date for that quarter.
The notes may be called at par on any contingent interest payment date.
If the notes are not called, the payout at maturity will be par unless the stock finishes below its trigger value, in which case investors will be fully exposed to the decline of the stock.
J.P. Morgan Securities LLC is the agent.
The notes will price on June 27 and settle on June 30.
The Cusip number is 46646EGV8.
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