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JPMorgan plans CDs due 2018 on JPMorgan Optimax Market-Neutral
By Toni Weeks
San Luis Obispo, Calif., April 7 - JPMorgan Chase Bank, NA plans to price 0% certificates of deposit due April 30, 2018 linked to the JPMorgan Optimax Market-Neutral index, according to a term sheet.
If the index return is positive, the payout at maturity will be par plus at least 105% of the index return. The exact participation rate will be set at pricing. If the index return is flat or negative, the payout will be par.
The index level reflects a fee of 0.96% that accrues daily.
The CDs (Cusip: 48125TKL8) are expected to price April 25 and settle April 30.
J.P. Morgan Securities LLC is the agent.
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