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JPMorgan plans seven-year CDs linked to ETF Efficiente 5 index
By Jennifer Chiou
New York, Nov. 13 - JPMorgan Chase Bank, NA plans to price 0% certificates of deposit due Nov. 29, 2019 linked to the JPMorgan ETF Efficiente 5 index, according to a term sheet.
The payout at maturity will be par plus at least 100% of any index gain, with a minimum payout of par. The exact deal terms will be set at pricing, and the index levels will incorporate an adjustment factor fee of 0.5% per year.
The notes (Cusip: 48124JMW5) are expected to price on Nov. 27 and settle on Nov. 30.
J.P. Morgan Securities LLC is the agent. Advisors Asset Management, Inc. is the distributor.
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