By Wendy Van Sickle
Columbus, Ohio, Feb. 2 – JPMorgan Chase Financial Co. LLC priced $4.5 million of floating-rate notes due Jan. 30, 2063 with an interest rate using SOFR as a benchmark rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is equal to SOFR plus 30 basis points. Interest is payable quarterly and cannot be less than 0%.
The payout at maturity will be par plus any interest.
Investors may request their notes be repurchased annually on Jan. 30. The repurchase price is 98 starting in 2027 and par starting in 2044.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Floating-rate notes
|
| Underlying: | SOFR
|
| Amount: | $4.5 million
|
| Maturity: | Jan. 30, 2063
|
| Coupon: | SOFR plus 30 bps, subject to a floor of 0%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus any interest
|
| Put option: | Once annually at 98 starting in 2027 and par starting in 2044
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 30
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48133U2L5
|
|
|
© 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.
