JPMorgan plans callable leveraged capped floaters tied to CMS rates

By Angela McDaniels

Tacoma, Wash., Sept. 13 - JPMorgan Chase & Co. plans to price callable leveraged capped floating-rate notes due Sept. 30, 2025 linked to the 30- and five-year Constant Maturity Swap rates, according to an FWP filing with the Securities and Exchange Commission.

The coupon will be fixed at 10% for the first year. After that time, the per-year interest rate will be four times the spread of the 30-year CMS rate over the five-year CMS rate, subject to a floor of zero and a cap of 10%. Interest will be payable quarterly.

The payout at maturity will be par.

Beginning Sept. 15, 2015, the notes will be callable at par on any interest payment date.

The notes (Cusip: 48124AG35) are expected to price Sept. 27 and settle Sept. 30.

J.P. Morgan Securities Inc. is the agent.

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