JPMorgan plans five-year CDs linked to four currencies vs. U.S. dollar

By Susanna Moon

Chicago, June 2 - JPMorgan Chase Bank, NA plans to price 0% certificates of deposit due June 30, 2016 linked to the performance of a basket of equally weighted currencies relative to the U.S. dollar, according to a term sheet.

The underlying currencies are the Brazilian real, the Australian dollar, the Norwegian krone and the Canadian dollar.

The payout at maturity will be par plus at least 1.2 times any basket gain. The exact participation rate will be set at pricing.

If the basket falls, the payout will be par.

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

The CDs will price on June 27 and settle on June 30.

The Cusip is 48123YZY5.

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