JPMorgan plans callable accrual CDs linked to Euro Stoxx 50, CMS rates

By Angela McDaniels

Tacoma, Wash., June 8 – JPMorgan Chase Bank, NA plans to price callable accrual certificates of deposit due June 26, 2030 linked to the Euro Stoxx 50 index, the 30-year Constant Maturity Swap rate and the two-year CMS rate, according to a term sheet.

The interest rate will be the interest factor multiplied by the proportion of days on which the spread of the 30-year CMS rate over the two-year CMS rate is greater than or equal to zero and the index’s closing level is at least 75% of the initial index level. Interest will be payable quarterly.

The interest factor will be 4.5% in years one through five, 5.5% in years six through 10 and 6% in years 11 through 15.

The payout at maturity will be par.

Beginning June 26, 2016, the CDs will be callable at par on any interest payment date.

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

The CDs will price June 24 and settle June 26.

The Cusip number is 48125YFK5.

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