Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers R > Headlines for Russell 2000 index > News item |
JPMorgan plans callable range accrual notes on Libor, Russell 2000
By Toni Weeks
San Diego, Dec. 18 - JPMorgan Chase & Co. plans to price callable variable-rate range accrual notes due Dec. 31, 2027 linked to six-month Libor and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly and will equal the interest factor times the proportion of days in the interest period on which the closing level of the Russell 2000 index is at least 575, subject to a minimum rate of zero and a variable maximum rate.
The interest factor is 8% for the first year and (i) 1.1 times (ii) 6% minus six-month Libor after that.
The coupon will be capped at 6.6% after the first year.
The payout at maturity will be par.
The notes are callable on any quarterly interest payment date after one year.
J.P. Morgan Securities LLC is the agent.
The notes (Cusip: 48126DMB2) will price on Dec. 26 and settle on Dec. 31.
© 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.