JPMorgan plans autocallable reverse exchangeables linked to Tenet

By Angela McDaniels

Tacoma, Wash., May 29 – JPMorgan Chase & Co. plans to price autocallable reverse exchangeable notes due June 20, 2016 linked to the common stock of Tenet Healthcare Corp., according to an FWP filing with the Securities and Exchange Commission.

The coupon will be 8% to 10%, payable monthly. The exact rate will be set at pricing.

The notes will be called at par if Tenet Healthcare stock closes at or above the initial share price on Dec. 15, 2015, March 15, 2016 or June 15, 2016.

If the notes are not called, the payout at maturity will be par unless Tenet Healthcare stock closes below the trigger level, 62.5% of the initial share price, during the life of the notes and finishes below the initial price, in which case the payout will be a number of Tenet Healthcare shares equal to $1,000 divided by the initial share price.

J.P. Morgan Securities LLC is the agent.

The notes will price on June 15 and settle June 18.

The Cusip number is 46625HLP3.

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