JPMorgan plans periodic-income CDs on Income Focus Efficiente DS 4

By Toni Weeks

San Luis Obispo, Calif., Feb. 4 - JPMorgan Chase Bank, NA plans to price periodic-income certificates of deposit due Feb. 28, 2020 linked to the J.P. Morgan Income Focus Efficiente DS 4 index, according to a term sheet.

The CDs pay a coupon each February, subject to a floor of 0% and a maximum rate of 1.5%.

The coupon rate for each annual coupon payment date will be a percentage equal to the cumulative index return on the applicable coupon determination date minus the cumulative paid coupon rate for that determination date. The cumulative paid coupon rate on any valuation date is the sum of the coupon rates for all coupon payment dates preceding that valuation date, subject to a cumulative paid coupon rate of 0% for the first coupon determination date. Interest is payable annually.

The payout at maturity will be par plus the final coupon, if any.

J.P. Morgan Securities LLC is the agent. Incapital LLC is the distributor.

The CDs will price Feb. 25 and settle Feb. 28.

The Cusip number is 48124JUC0.

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