By Wendy Van Sickle
Columbus, Ohio, April 25 – JPMorgan Chase Financial Co. LLC priced $52.76 million of floating-rate notes due April 24, 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 10 basis points. Interest is payable quarterly and cannot be less than 0%.
The payout at maturity will be par plus any interest.
There will be a put option annually starting at 97, stepping up to 98 on April 24, 2026, to 99 on April 24, 2029 and to par on April 24, 2032
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: | $52,755,000
|
| Maturity: | April 24, 2063
|
| Coupon: | SOFR plus 10 bps, subject to a floor of 0%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus any interest
|
| Put option: | Annually starting at 97, stepping up to 98 on April 24, 2026, to 99 on April 24, 2029 and to par on April 24, 2032
|
| Pricing date: | April 19
|
| Settlement date: | April 24
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48133U5K4
|
|
|
© 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.
