| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers J > Headlines for JPMorgan Chase Bank, NA > News item |
JPMorgan plans 20-year callable range CDs linked to six-month Libor
By Susanna Moon
Chicago, Aug. 31 - JPMorgan Chase Bank, NA plans to issue callable range certificates of deposit due Sept. 14, 2029 linked to six-month Libor, according to a term sheet.
Interest is payable quarterly. The rate will equal an interest factor times the proportion of days on which six-month Libor is greater than zero and no more than 7%.
The interest factor will be 5% per year for the first five years. From Sept. 14, 2014 to Sept. 13, 2019, the factor will be 6% per year. From Sept. 14, 2019 to Sept. 13, 2024, the factor will be 7% per year. From Sept. 14, 2024 onward, the factor will be 8% per year.
The payout at maturity will be par.
The CDs are callable at par on any interest payment date beginning Sept. 14, 2010.
The CDs will settle on Sept. 14.
J.P. Morgan Securities Inc. is the agent.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.