JPMorgan plans 10-year autocallable CDs on J.P. Morgan Efficiente

By Marisa Wong

Morgantown, W.Va., March 19 – JPMorgan Chase Bank, NA plans to price 0% autocallable certificates of deposit due March 31, 2028 with step-up call value 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 8% per year and will be set at pricing. The first review date is March 26, 2019, and the last one is March 26, 2024.

The call value will be 102.5% of the initial index level on the first review date, stepping up by 250 basis points each review date to a call value of 122.5% of the initial level on the final review date.

If the notes are not called, the payout at maturity will be par plus 1.5 times the index return, subject to a minimum payout of par.

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

The CDs will price March 26.

The Cusip number is 48126YU68.

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