By William Gullotti
Buffalo, N.Y., March 28 – JPMorgan Chase Financial Co. LLC priced $66.68 million of floating rate notes due March 24, 2043, 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 plus 15 basis points, subject to a floor of 0%. Interest will be reset and payable quarterly.
Holders may require the issuer to repurchase the notes annually starting March 24, 2025 at 97. The repurchase amount steps up to 98 starting March 24, 2026, to 99 starting March 24, 2028 and to par starting March 24, 2033.
The payout at maturity will be par plus accrued interest.
J.P. Morgan Securities Inc. is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Floating rate notes
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| Amount: | $66.68 million
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| Maturity: | March 24, 2043
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| Coupon: | Compounded SOFR plus 15 bps, floor of 0%; reset and payable quarterly
|
| Price: | Par
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| Payout at maturity: | Par
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| Put option: | Annually, starting March 24, 2025 at 97; repurchase amount steps up to 98 starting March 24, 2026, to 99 starting March 24, 2028, and to par starting March 24, 2033 until maturity
|
| Pricing date: | March 21
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| Settlement date: | March 24
|
| Underwriter: | J.P. Morgan Securities Inc.
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| Fees: | 1%
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| Cusip: | 48133U4T6
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