JPMorgan plans autocallable CDs due 2026 linked to Efficiente Plus DS

By Marisa Wong

Morgantown, W.Va., June 13 – JPMorgan Chase Bank, NA plans to price 0% autocallable certificates of deposit with step-up call value due June 30, 2026 linked to the J.P. Morgan Efficiente Plus DS 5 Index (Net ER), according to a term sheet.

If the index closes at or above the call value on any annual review date, the CDs will be called at par plus a call premium that is expected to be at least 6.5% per year and will be set at pricing. The first review date is June 27, 2017, and the last one is June 25, 2025.

The call value will be 104% of the initial index level on the first review date, stepping up by 4% each review date to a call value of 136% of the initial level on the final review date.

If the notes are not called, the payout at maturity will be par plus the index return, subject to a minimum payout of par.

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 the distributor.

The CDs will price on June 27 and settle on June 30.

The Cusip number is 48125Y4G6.

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