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JPMorgan plans variable annual income CDs due 2025 on Efficiente Plus
By Marisa Wong
Morgantown, W.Va., April 23 – JPMorgan Chase Bank, NA plans to price variable annual income certificates of deposit with due April 30, 2025 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 on the applicable annual review date, subject to a minimum coupon of 1% and a maximum coupon of at least 6%.
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 will price April 25.
The Cusip number is 48126Y4R1.
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