Correction: JPMorgan Chase Bank plans digital CDs due 2019 on stocks

A story in the July 5 edition of the Prospect News Structured Products Daily incorrectly reported that JPMorgan Chase & Co. was the issuer of upcoming digital contingent coupon CDs due 2019. A corrected version of the story follows:

By Marisa Wong

Madison, Wis., July 5 - JPMorgan Chase Bank, NA plans to price digital contingent coupon certificates of deposit due July 31, 2019 linked to a basket of stocks, according to a term sheet.

The basket includes the common stocks of AT&T, Inc., Bristol-Meyers Squibb Co., Coca-Cola Co., Kimberly-Clark Corp., McDonald's Corp., Philip Morris International, Inc., Procter & Gamble Co., Reynolds American Inc., Southern Co. and Unilever plc.

Interest is payable annually and will equal the sum of the weighted performances of the basket stocks, subject to a minimum coupon of 0%. If a basket stock's underlying return is zero or positive, its performance will be equal to the coupon cap, which will be at least 6% and will be set at pricing. If the underlying return is negative, the basket component's performance will be the greater of the stock return and negative 10%.

The payout at maturity will be par.

The CDs (Cusip: 48124JN38) are expected to price July 26 and settle July 31.

J.P. Morgan Securities LLC is the agent. Incapital LLC is the distributor.

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