JPMorgan plans seven-year step-up autocallable CDs tied to Efficiente

By Susanna Moon

Chicago, July 18 – JPMorgan Chase Bank, NA plans to price autocallable certificates of deposit with step-up call value due July 31, 2024 linked to the JPMorgan Efficiente Plus DS 5 index (Net ER), according to a term sheet.

The CDs will be called at par plus a call premium of at least 7% if the index closes at or above its call level on any annual review date. The call level will be 103.75% of the initial level on the first review date, stepping up by 3.75% on each subsequent yearly review date to 122.5% on the sixth review date.

The payout at maturity will be par plus any index gain.

If the index falls, the payout will be par.

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

The CDs will price on July 26 and settle on July 31.

The Cusip number is 48126YBD4.

© 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.