JPMorgan plans range accrual notes on six-month Libor, S&P 500

By Toni Weeks

San Diego, Nov. 10 - JPMorgan Chase & Co. plans to price range accrual notes due Nov. 23, 2021 linked to the six-month Libor rate and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The coupon will be 5.02% per year for each day that six-month Libor is 6% or less and the closing level of the S&P 500 index is at least 865.

Interest is payable quarterly.

The payout at maturity will be par.

The notes are redeemable on any quarterly redemption date after one year.

The notes (Cusip: 48125VBK5) are expected to price Nov. 18 and settle Nov. 23.

J.P. Morgan Securities LLC will be the agent with Morgan Stanley Smith Barney LLC as distributor.

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