Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers J > Headlines for J.P. Morgan Efficiente Plus DS 5 Index (Net ER) > News item |
JPMorgan plans variable income CDs linked to Efficiente Plus DS 5
By Susanna Moon
Chicago, April 9 – JPMorgan Chase Bank, NA plans to price variable annual income certificates of deposit due April 29, 2022 linked to the J.P. Morgan Efficiente Plus DS 5 Index (Net ER), according to a term sheet.
Interest is payable annually at a rate equal to the index return multiplied by the index factor, with a minimum coupon rate of at least 0.5%.
The index factor is one divided by the number of coupon determination dates that have occurred to date including the current coupon determination date.
The payout at maturity will be par plus the last coupon payment.
The level of the index reflects the deduction of a fee of 0.85% 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 48125YAB0.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.