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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

  1. A Floating Rate CD
  2. An Inverse Floater
  3. A Reset CD
  4. A PIK CD
  5. A Note Linked CD

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