JPMorgan plans market-linked CDs due 2021 on JPMorgan ETF Efficiente 5

By Marisa Wong

Madison, Wis., May 5 - JPMorgan Chase Bank, NA plans to price market-linked certificates of deposit with contingent annual interest due May 28, 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 2%. The review dates are each May from 2015 through 2020 and do not include the maturity date.

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. Incapital LLC is the distributor.

The CDs will price on May 27 and settle on May 30.

The Cusip number is 48125TNC5.

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