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JPMorgan plans CDs linked to JPMorgan Optimax Market-Neutral index
By Angela McDaniels
Tacoma, Wash., Oct. 15 – JPMorgan Chase Bank, NA plans to price 0% certificates of deposit due Oct. 29, 2021 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 125% 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 level of the index reflects the deduction of a fee of 0.96% per year that accrues daily.
J.P. Morgan Securities LLC is the agent. Incapital LLC is distributor.
The CDs will price Oct. 27.
The Cusip number is 48125YRR7.
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