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JPMorgan plans CDs due 2019 with par floor on Optimax Market-Neutral
By Toni Weeks
San Luis Obispo, Calif., Oct. 4 - JPMorgan Chase Bank, NA plans to price 0% certificates of deposit due April 30, 2019 linked to the JPMorgan Optimax Market-Neutral index, according to a term sheet.
The payout at maturity will be par plus at least 110% of any index gain.
If the index falls, the payout will be par.
The exact deal terms will be set at pricing.
J.P. Morgan Securities LLC is the agent. Incapital LLC is the distributor.
The CDs will price on Oct. 28 and settle on Oct. 31.
The Cusip number is 48124J5F1.
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