Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers J > Headlines for JPMorgan Chase Bank, NA > News item |
JPMorgan plans capped quarterly observation CDs linked to S&P 500
By Angela McDaniels
Tacoma, Wash., July 10 – JPMorgan Chase Bank, NA plans to price 0% capped quarterly observation certificates of deposit due July 29, 2021 linked to the S&P 500 index, according to a term sheet.
The payout at maturity will be par plus the sum of the capped quarterly returns, subject to a minimum return of 3%.
The capped quarterly returns will be the return of the index during each quarter of the life of the CDs, subject to a cap that is expected to be at least 2% per quarter and will be set at pricing. The return in each quarter will be measured from the beginning of that quarter to the end of that quarter and may be negative.
J.P. Morgan Securities LLC is the agent. Incapital LLC is distributor.
The CDs will price July 26.
The Cusip number is 48126X7X7.
© 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.