By Susanna Moon
Chicago, May 27 - JPMorgan Chase & Co. priced $26 million of fixed-to-floating notes due May 31, 2021 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 4.25% for the first year. After that, the rate will be equal to the year-over-year change in the Consumer Price Index plus 150 basis points, subject to a maximum rate of 7%.
Interest is payable monthly and cannot be less than zero.
The payout at maturity will be par.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Fixed-to-floating notes
|
| Underlying index: | Consumer Price Index
|
| Amount: | $26 million
|
| Maturity: | May 31, 2021
|
| Coupon: | 4.25% for one year; after that, year-over-year change in CPI plus 150 bps, capped at 7%, floor of 0%; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 48125XRR9
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
