JPMorgan plans callable range accrual notes on six-month Libor, S&P

By Susanna Moon

Chicago, Jan. 12 - JPMorgan Chase & Co. plans to price callable range accrual notes due Jan. 26, 2026 linked to six-month Libor and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The coupon will accrue at the rate of 7.25% per year on each day that six-month Libor is 7% or less and the closing index level is at least 900. Interest is payable quarterly.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date beginning Jan. 26, 2016.

The notes (Cusip 48125XAX4) will price on Jan. 21 and settle on Jan. 26.

J.P. Morgan Securities LLC is the agent.

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