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JPMorgan plans six-year CDs tied to J.P. Morgan Alternative index
By Susanna Moon
Chicago, Nov. 2 - JPMorgan Chase Bank, NA plans to price certificates of deposit due Nov. 28, 2017 linked to the J.P. Morgan Alternative Index Multi-Strategy 5 (USD), according to a term sheet.
The payout at maturity will be par plus at least 100% of any index gain, with the exact participation rate to be set at pricing.
If the index falls, the payout will be par.
The underlying index is a notional rules-based proprietary index that tracks the return of 26 alternative investment strategies. The index is based on the theory that returns may be generated from capturing inefficiencies or trends in market prices of multiple asset classes.
The CDs will price on Nov. 22 and settle on Nov. 30.
The Cusip number is 48123YY59.
J.P. Morgan Securities LLC is the agent. Incapital LLC is the distributor.
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