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JPMorgan plans to price CDs linked to JPMorgan ETF Efficiente 5 index
By Tali Rackner
Norfolk, Va., Oct. 15 – JPMorgan Chase Bank, NA plans to price certificates of deposit due July 31, 2020 linked to the JPMorgan ETF Efficiente 5 index (Net ER), according to a term sheet.
The payout at maturity will be par plus at least 105% of the index return, subject to a minimum payout of par. The exact participation rate will be set at pricing.
The index is a notional dynamic basket that tracks the excess return of a portfolio of 19 exchange-traded funds, with dividends notionally reinvested, and the JPMorgan Cash Index USD 3 Month over the return of the cash index less a fee of 0.85% per annum that accrues daily.
J.P. Morgan Securities LLC is the agent. Incapital LLC is distributor.
The CDs will price on Oct. 27 and settle on Oct. 30.
The Cusip number is 48125YRY2.
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