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JP Morgan Chase issued a new 15-year Certificate of Deposit on June 24, 2020. The CD pays interest semi-annually beginning on December 24, 2020 at
JP Morgan Chase issued a new 15-year Certificate of Deposit on June 24, 2020. The CD pays interest semi-annually beginning on December 24, 2020 at the rates shown in the table below. There is a floor of 0%. After June 24, 2021, the CD could best be classified as:
Year 1 Years 2-5 Years 6-10 Years 11-15
4.00% 4.50% 6 month Libor 5.50% 6 month Libor 6.00% 6 month Libor
- A Floating Rate CD
- An Inverse Floater
- A Reset CD
- A PIK CD
- A Note Linked CD
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