JPMorgan plans autocallable CDs due 2025 on J.P. Morgan Efficiente

By Marisa Wong

Morgantown, W.Va., May 16 – JPMorgan Chase Bank, NA plans to price 0% autocallable certificates of deposit due May 30, 2025 with step-up call value linked to the J.P. Morgan Efficiente Plus DS 5 Index (Net ER), according to a term sheet.

If the index closes at or above the call value on any annual review date, the CDs will be called at par plus a call premium that is expected to be at least 8% per year and will be set at pricing. The first review date is May 29, 2020, and the last one is May 29, 2024.

The call value will be 104% of the initial index level on the first review date, stepping up by 200 basis points each review date to a call value of 112% of the initial level on the final review date.

If the notes are not called, the payout at maturity will be par plus the index return, subject to a minimum payout of par.

J.P. Morgan Securities LLC is the agent. Incapital LLC is distributor.

The CDs will price May 29.

The Cusip number is 48128FBA9.

© 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.