JPMorgan plans 10-year capped floating-rate notes linked to Libor

By Susanna Moon

Chicago, Oct. 25 - JPMorgan Chase & Co. plans to price capped floating-rate notes due Nov. 9, 2020 linked to Libor, according to an FWP filing with the Securities and Exchange Commission.

The coupon will be 5% for the first year. After that, the rate will be Libor plus 125 basis points, up to a maximum rate of 7%. Interest will be payable quarterly and cannot be less than zero.

The payout at maturity will be par.

The notes (Cusip 48124AU96) are expected to price on Nov. 4 and settle on Nov. 9.

J.P. Morgan Securities LLC is the agent.

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