JPMorgan plans callable range accrual notes on 10-year ICE swap rate

By Marisa Wong

Morgantown, W.Va., May 21 – JPMorgan Chase Financial Co. LLC plans to price callable range accrual securities due Nov. 25, 2019 linked to 10-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

Interest will accrue at an annualized rate of 5.7% for each day that the 10-year ICE swap rate is greater than or equal to 2.63%. Interest is payable monthly.

The payout at maturity will be par unless the 10-year ICE swap rate finishes below 2.63%, in which case the payout will be par plus the rate return.

The notes are callable at on any quarterly redemption date beginning Nov. 24, 2018.

J.P. Morgan Securities LLC is the agent.

The notes will price on May 22.

The Cusip number is 46647MRT2.

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