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JPMorgan plans callable 15-year range accrual notes tied to Euro Stoxx
By Susanna Moon
Chicago, March 19 - JPMorgan Chase & Co. plans to price callable variable-rate range accrual notes due March 28, 2029 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
Interest will accrue at 8.15% for each day that six-month Libor is 6.5% or less and the index closes at or above the 70% barrier level. Interest will be payable quarterly and cannot be less than zero.
The payout at maturity will be par if the index falls by up to 40%.
Otherwise, investors will be fully exposed to any losses if the index finishes below the 60% trigger level.
The notes are callable at par on any quarterly call date beginning March 28, 2015.
J.P. Morgan Securities LLC is the agent.
The notes will price on March 25 and settle on March 28.
The Cusip number is 48126N5R4.
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