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JPMorgan plans callable range accrual notes tied to six-month Libor
By Marisa Wong
Madison, Wis., Oct. 18 - JPMorgan Chase & Co. plans to price callable range accrual notes due Oct. 29, 2025 linked to six-month Libor, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly and will be equal to the interest factor multiplied by the proportion of days on which six-month Libor is 5.75% or less. The interest factor is 5.25% per year for each interest period.
The payout at maturity will be par.
Beginning Oct. 29, 2015, the notes will be callable at par on any interest payment date.
The notes (Cusip 48124AS73) are expected to price Oct. 26 and settle Oct. 29.
J.P. Morgan Securities LLC is the agent.
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