Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for S&P Economic Cycle Factor Rotator index > News item |
JPMorgan to price autocallable CDs due 2026 on S&P Economic Cycle Factor
By Marisa Wong
Morgantown, W.Va., Jan. 25 – JPMorgan Chase Bank, NA plans to price 0% autocallable certificates of deposit due Jan. 30, 2026 with step-up call value linked to the S&P Economic Cycle Factor Rotator index, according to a term sheet.
If the index closes at or above the call value on any annual review date, the CDs will be called at par plus a call premium that is expected to be at least 10.75% per year and will be set at pricing. The first review date is Jan. 28, 2020, and the last one is Jan. 28, 2025.
The call value will be at most 103.4% of the initial index level on the first review date, stepping up by at most 340 basis points each subsequent review date.
If the notes are not called, the payout at maturity will be par plus the index return, subject to a minimum payout of par.
J.P. Morgan Securities LLC is the agent. Advisors Asset Management is distributor.
The CDs will price Jan. 28.
The Cusip number is 48128F5R9.
© 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.