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JPMorgan plans callable range accrual notes on six-month Libor, S&P
By Susanna Moon
Chicago, Nov. 15 - JPMorgan Chase & Co. plans to price callable range accrual notes due Dec. 3, 2025 linked to six-month Libor and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The coupon will be a rate for each day that six-month Libor is 6.5% or less and the closing index level is at least 900. The rate will be 7% for years one through five, 7.5% per year for years six through 10 and 8% per year for years 11 through 15. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning Dec. 3, 2015.
The notes (Cusip 48124A2J5) will price on Nov. 30 and settle on Dec. 3.
J.P. Morgan Securities LLC is the agent.
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