JPMorgan plans 0.25%-5% income CDs due 2024 tied to Efficiente Plus

By Susanna Moon

Chicago, Aug. 21 – JPMorgan Chase Bank, NA plans to price variable income certificates of deposit with variable annual income due Aug. 30, 2024 linked to the JPMorgan Efficiente Plus DS 5 index (Net ER), according to a term sheet.

The CDs will pay annual interest based on the index return, with a minimum coupon of 0.25% and up to a maximum rate of at least 5%.

The payout at maturity will be par.

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

The CDs will price on Aug. 28 and settle on Aug. 31.

The Cusip number is 48126YEF6.

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