JPMorgan to price floating-rate notes linked to five-year CMS rate

By Angela McDaniels

Tacoma, Wash., Aug. 23 - JPMorgan Chase & Co. plans to price floating-rate notes due Aug. 30, 2023 linked to the five-year Constant Maturity Swap rate, according to an FWP filing with the Securities and Exchange Commission.

The interest rate will be the five-year CMS rate plus 15 basis points, subject to a minimum of zero and a maximum of 7% per year. Interest will be payable quarterly.

The payout at maturity will be par.

J.P. Morgan Securities LLC is the agent.

The notes are expected to price Aug. 27 and settle Aug. 30.

The Cusip number is 48126D6S3.

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