JPMorgan plans autocallable CDs linked to JPMorgan Efficiente Plus DS

By Devika Patel

Knoxville, Tenn., April 17 – JPMorgan Chase Bank, NA plans to price autocallable certificates of deposit with step-up call value due April 30, 2024 linked to the JPMorgan ETF Efficiente Plus DS 5 index (Net ER), according to a term sheet.

The payout at maturity will be par plus the index return, subject to a minimum payout of par.

If the closing level of the index on any annual review date is greater than or equal to the applicable call value, the CDs will be automatically called for a cash payment of par plus to call premium amount for each $1,000 CD.

The call value is 104% for the first review date; 108% for the second review date; 112% for the third review date; 116% for the fourth review date; 120% for the fifth review date; and 124% for the final review date.

The call premium amount is at least 7% of par for the first review date; at least 14% of par for the second review date; at least 21% of par for the third review date; at least 28% of par for the fourth review date; at least 35% of par for the fifth review date; and f at least 42% of par or the final review date. The exact call premiums will be set at pricing.

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 distributor.

The CDs (Cusip: 48126XS22) will price on April 25 and settle April 28.

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