JPMorgan plans variable annual income CDs on Efficiente Plus DS 5

By Marisa Wong

Morgantown, W.Va., Nov. 17 – JPMorgan Chase Bank, NA plans to price variable annual income certificates of deposit with due Nov. 29, 2024 linked to the J.P. Morgan Efficiente Plus DS 5 index (Net ER), according to a term sheet.

Interest will be payable annually at a rate equal to the index return multiplied by the index factor, subject to a minimum coupon that is expected to be at least 0.75% per year and will be set at pricing. 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.

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

The CDs are expected to price Nov. 27.

The Cusip number is 48126YQL0.

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