By William Gullotti
Buffalo, N.Y., Aug. 26 – JPMorgan Chase Financial Co. LLC priced $6.65 million of floating rate notes due Aug. 25, 2062, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will bear interest at compounded SOFR, subject to a floor of 0%. Interest will be reset and payable quarterly.
Holders may require the issuer to repurchase the notes annually starting Aug. 25, 2024 at 97, stepping up to par starting Aug. 25, 2026.
The payout at maturity will be par plus accrued interest.
J.P. Morgan Securities Inc. is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Floating rate notes
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Amount: | $6.65 million
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Maturity: | Aug. 25, 2062
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Coupon: | Compounded SOFR, floor of 0%; reset and payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Put option: | Annually starting Aug. 25, 2024 at 97 through Aug. 25, 2025; amount steps up to par starting Aug. 25, 2026
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Pricing date: | Aug. 23
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Settlement date: | Aug. 25
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Underwriter: | J.P. Morgan Securities Inc.
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Fees: | 1%
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Cusip: | 48133MBS8
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