JPMorgan to price five-year CDs tied to basket of BRIC currencies

By Toni Weeks

San Luis Obispo, Calif., Aug. 6 – JPMorgan Chase Bank, NA plans to price certificates of deposit due Aug. 30, 2019 linked to a basket of four equally weighted currencies relative to the dollar, according to a term sheet.

The underlying currencies are the Brazilian real, the Russian ruble, the Indian rupee and the Chinese renminbi.

The payout at maturity will be par plus at least 100% of the basket return, subject to a minimum payment of $1,040 per $1,000 principal amount of CDs. The exact participation rate will be set at pricing.

The CDs (Cusip: 48125TVM4) are expected to price Aug. 26 and settle Aug. 29.

J.P. Morgan Securities LLC is the agent. Incapital LLC is the distributor.

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