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JPMorgan plans CDs linked to JPMorgan Optimax Market-Neutral index
By Susanna Moon
Chicago, April 8 – JPMorgan Chase Bank, NA plans to price 0% certificates of deposit due April 30, 2021 linked to the JPMorgan Optimax Market-Neutral index, according to a term sheet.
The payout at maturity will be par plus at least 125% of any index gain. The exact participation rate will be set at pricing.
If the index falls, the payout will be par.
The level of the index reflects the deduction of a fee of 0.96% per year that accrues daily.
J.P. Morgan Securities LLC is the agent. Incapital LLC is distributor.
The CDs will price on April 27 and settle on April 30.
The Cusip number is 48125T6Y6.
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