JPMorgan to price range accrual notes linked to Euro Stoxx 50, Libor

By Angela McDaniels

Tacoma, Wash., Feb. 26 - JPMorgan Chase & Co. plans to price callable range accrual notes due March 21, 2029 linked to the Euro Stoxx 50 index and six-month Libor, according to an FWP filing with the Securities and Exchange Commission.

The interest rate will be fixed at 8% for the first year. After that, the interest rate will be 8% per year multiplied by the proportion of days on which six-month Libor is 6% or less and the index's closing level is at least 75% of the initial index level. Interest will be payable quarterly.

If the final index level is greater than the barrier level, 50% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final index level is less than the initial index level.

Beginning March 21, 2015, the notes will be callable at par on any interest payment date.

J.P. Morgan Securities LLC is the agent.

The notes will price March 18 and settle March 21.

The Cusip number is 48126NUM7.

© 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.