By Wendy Van Sickle
Columbus, Ohio, Dec. 8 – JPMorgan Chase Financial Co. LLC priced $25 million of fixed-to-floating rate notes due Dec. 6, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest will be fixed at 6.65% for the first two years. After that, it will be equal to SOFR plus 100 basis points, subject to a floor of 0% and a cap of 6.65%. Interest is payable quarterly.
The payout at maturity will be par.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Fixed-to-floating rate notes
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| Amount: | $25 million
|
| Underlying rate: | SOFR
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| Maturity: | Dec. 6, 2029
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| Coupon: | Initially 6.65%; after first two years, SOFR plus 100 bps, subject to floor of 0% and a cap of 6.65%; payable quarterly
|
| Price: | Par
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| Payout at maturity: | Par
|
| Pricing date: | Dec. 2
|
| Settlement date: | Dec. 6
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0%
|
| Cusip: | 48130CAE5
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