JPMorgan plans 11-year fixed-to-floating notes on Consumer Price Index

By Susanna Moon

Chicago, March 23 - JPMorgan Chase & Co. plans to price fixed-to-floating notes due April 8, 2022 linked to the Consumer Price Index, according to an FWP filing with the Securities and Exchange Commission.

The coupon will be 4% for the first two years. After that, the rate will be equal to the year-over-year change in the Consumer Price Index plus 200 basis points, up to a maximum rate of 7.75%. Interest is payable monthly and cannot be less than zero.

The payout at maturity will be par.

J.P. Morgan Securities LLC is the agent.

The notes will price on April 5 and settle on April 8.

The Cusip is 48125XKM7.

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