JPMorgan plans leveraged CMS curve, S&P 500-linked notes due 2028

By Susanna Moon

Chicago, Aug. 16 - JPMorgan Chase & Co. plans to price fixed-to-floating rate leveraged CMS curve and S&P 500 index-linked notes due Aug. 31, 2028, according to an FWP filing with the Securities and Exchange Commission.

The coupon will be 10% for the first year. After that, for each day that the index closes at or above the 75% barrier level, interest will accrue at 5 times the spread of the 30-year Constant Maturity Swap rate over the five-year CMS rate, up to a maximum rate of 10%. Interest will be payable quarterly and cannot be less than zero.

The payout at maturity will be par.

J.P. Morgan Securities LLC is the agent with Morgan Stanley Smith Barney LLC handling distribution.

The notes will settle on Aug. 30.

The Cusip number is 48126D6M6.

© 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.