JPMorgan plans to issue 10-year range accrual notes linked to Libor

By Susanna Moon

Chicago, July 12 - JPMorgan Chase & Co. plans to price Libor range accrual notes due July 28, 2020, according to an FWP filing with the Securities and Exchange Commission.

The coupon will be 4% for the first year. After that, the rate will be Libor plus 150 basis points, up to a maximum coupon of 7%. Interest is payable quarterly and cannot be less than zero.

The payout at maturity will be par.

The notes will settle on July 28.

J.P. Morgan Securities Inc. is the agent.

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