JPMorgan plans autocallable contingent interest notes linked to Apple

By Marisa Wong

Madison, Wis., March 24 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due April 13, 2016 linked to Apple Inc. shares, according to an FWP with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 12% if Apple shares close at or above the 80% barrier level on a review date for that quarter.

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

The payout at maturity will be par plus the coupon unless the stock finishes below the 80% trigger level, in which case investors will be fully exposed to any losses.

J.P. Morgan Securities LLC is the agent.

The notes will price on March 27 and settle on April 1.

The Cusip number is 48125ULA8.

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