JPMorgan plans callable range accrual notes on six-month Libor, S&P

By Toni Weeks

San Luis Obispo, Calif., July 1 - JPMorgan Chase & Co. plans to price callable six-month Libor and S&P 500 index-linked range accrual notes due July 10, 2028, according to an FWP filing with the Securities and Exchange Commission.

Interest will accrue at 7% per year for each day that Libor is 6% or less and the index closes at or above the index strike, which is expected to be between 1,180 and 1,250 and will be set at pricing.

The notes are callable at par plus accrued interest, if any, on any quarterly interest payment date beginning July 10, 2018.

The payout at maturity will be par.

UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.

The notes (Cusip: 48126D5L9) are expected to price July 3 and settle July 10.

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