JPMorgan plans to price seven-year 0% CDs linked to indexes, ETF

By Toni Weeks

San Luis Obispo, Calif., July 10 - JPMorgan Chase Bank, NA plans to price 0% certificates of deposit due July 31, 2020 linked to a basket of two indexes and one exchange-traded fund, equally weighted, according to a term sheet.

The underlying components are the S&P 500 index, the Euro Stoxx 50 index and the iShares iBoxx $ High Yield Corporate Bond ETF.

The payout at maturity will be par plus the greater of the minimum return and at least 100% of the basket return. The minimum return is expected to be 3.5%.

The final basket level will be the average of the basket's closing levels on each averaging date. The averaging dates will be in July of each year from July 2014 through July 2020.

The exact terms will be set at pricing.

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

The notes will price July 26 and settle July 31.

The Cusip number is 48124JT65.

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