JPMorgan plans annual income notes linked to ETF Efficiente 5

By Marisa Wong

Madison, Wis., April 29 - JPMorgan Chase & Co. plans to price annual income notes due May 29, 2020 linked to the JPMorgan ETF Efficiente 5 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable annually at a rate equal to the index return multiplied by the index factor, with a minimum rate of zero. The index factor is one divided by the number of interest determination dates that have occurred to date including the current interest determination date.

The payout at maturity will be par plus the last coupon payment.

The index tracks the excess return of a portfolio of 12 exchange-traded funds, with dividends reinvested, and the JPMorgan Cash Index USD 3 Month above the return of the cash index less a fee of 0.5% per year that accrues daily.

J.P. Morgan Securities LLC is the agent.

The notes will price on May 24 and settle on June 3.

The Cusip number is 48126D2Y4.

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