JPMorgan plans range accrual notes on six-month Libor, Russell 2000

By Toni Weeks

San Luis Obispo, Calif., July 9 - JPMorgan Chase & Co. plans to price six-month Libor and Russell 2000 index-linked range accrual notes due July 19, 2028, according to an FWP filing with the Securities and Exchange Commission.

Interest will accrue at 7% per year for each day that Libor is 6% or less and the index closes at or above 75% of the initial level. Interest is payable quarterly.

The notes are callable at par plus accrued interest, if any, on any quarterly interest payment date beginning July 19, 2019.

The payout at maturity will be par.

J.P. Morgan Securities LLC is the agent with Morgan Stanley Smith Barney LLC as dealer.

The notes (Cusip: 48126D5P0) are expected to price July 16 and settle July 19.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.