JPMorgan plans range accrual notes tied to six-month Libor, S&P 500

By Jennifer Chiou

New York, Dec. 8 - JPMorgan Chase & Co. plans to price callable range accrual notes due Dec. 30, 2025 linked to six-month Libor and the S&P 500 index, according to an FWP with the Securities and Exchange Commission.

The coupon will be the interest factor multiplied by the proportion of days on which six-month Libor is 6.5% or less and the closing index level is at least 900. The interest factor will be 7.75% per year for years one through five, 8.25% per year for years six through 10 and 8.75% per year for years 11 through 15. Interest is payable quarterly.

The payout at maturity will be par.

Beginning Dec. 30, 2015, the notes will be callable at par on any interest payment date.

The notes (Cusip: 48124A5K9) will price on Dec. 27 and settle on Dec. 30.

J.P. Morgan Securities LLC is the agent.

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