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JPMorgan plans market-linked CDs due 2021 on JPMorgan ETF Efficiente 5
By Susanna Moon
Chicago, Aug. 7 – JPMorgan Chase Bank, NA plans to price market-linked certificates of deposit with contingent annual interest due Aug. 31, 2021 linked to the JPMorgan ETF Efficiente 5 index, according to a term sheet.
If the index closes at or above the initial level on any annual contingent interest review date, the CDs will pay a coupon of at least 1.4%.
The payout at maturity will be par plus 100% of any index gain.
If the index falls, the payout will be par.
The exact deal terms will be set at pricing.
The level of the index reflects the deduction of a fee of 0.5% that accrues daily.
J.P. Morgan Securities LLC is the agent.
The CDs will price on Aug. 26 and settle on Aug. 29.
The Cusip number is 48125TUP8.
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