JPMorgan plans to price 10-year fixed-to-floating notes linked to CPI

By Toni Weeks

San Diego, Sept. 30 - JPMorgan Chase & Co. plans to price fixed-to-floating notes due Oct. 14, 2021 linked to the Consumer Price Index, according to an FWP with the Securities and Exchange Commission.

The coupon will be 4% for the first year. After that, the rate will be equal to the year-over-year change in the Consumer Price Index plus 100 basis points, subject to a maximum rate of 7%.

Interest is payable monthly and cannot be less than zero.

The payout at maturity will be par.

The notes (Cusip: 48125X5K8) are expected to price on Oct. 11 and settle on Oct. 14.

J.P. Morgan Securities LLC is the agent.

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