JPMorgan plans leveraged CMS curve, Russell 2000-tied notes due 2028

By Angela McDaniels

Tacoma, Wash., March 21 - JPMorgan Chase & Co. plans to price fixed-to-floating rate leveraged CMS curve and Russell 2000 index-linked notes due March 28, 2028, according to an FWP filing with the Securities and Exchange Commission.

The coupon will be 7% for the first year. After that, it will be four times the spread of the 30-year Constant Maturity Swap rate over the five-year CMS rate, subject to a minimum of zero and a maximum annualized rate of 7%, multiplied by the proportion of days on which the index closes at or above 660. Interest will be payable quarterly.

The payout at maturity will be par.

J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Smith Barney LLC.

The notes will price March 26 and settle March 28.

The Cusip number is 48126DS26.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.