JPMorgan plans autocallable CDs due 2026 on S&P Economic Cycle Factor

By Marisa Wong

Morgantown, W.Va., Feb. 20 – JPMorgan Chase Bank, NA plans to price 0% autocallable certificates of deposit due Feb. 27, 2026 with step-up call value linked to the S&P Economic Cycle Factor Rotator index, according to a term sheet.

If the index closes at or above the call value on any annual review date, the CDs will be called at par plus a call premium that is expected to be at least 8.25% per year and will be set at pricing. The first review date is Feb. 25, 2020, and the last one is Feb. 25, 2025.

The call value will be at most 102.75% of the initial index level on the first review date, stepping up by at most 275 basis points each subsequent review date.

If the notes are not called, the payout at maturity will be par plus the index return, subject to a minimum payout of par.

J.P. Morgan Securities LLC is the agent. Advisors Asset Management is distributor.

The CDs will price Feb. 25.

The Cusip number is 48128HEQ7.

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