JPMorgan plans five-year CDs on four currencies relative to dollar

By Jennifer Chiou

New York, Aug. 3 - JPMorgan Chase Bank, NA plans to price 0% certificates of deposit due Aug. 31, 2016 linked to an equally weighted basket of four currencies relative to the U.S. dollar, according to a term sheet.

The basket is comprised of the Brazilian real, the Australian dollar, the Norwegian krone and the Canadian dollar.

The payout at maturity will be par plus at least 125% of the basket return, subject to a minimum of par.

The CDs (Cusip: 48123YM37) are expected to price on Aug. 26 and settle on Aug. 31.

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

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