Chicago, Dec. 4 – JPMorgan Chase Financial Co. LLC priced $5 million of floating-rate notes due Nov. 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 35 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 on each Nov. 30 annually starting on Nov. 30, 2027. The repurchase amount is initially 98, then 99 the next year and par each subsequent year.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Floating-rate notes
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Underlying: | SOFR
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Amount: | $5 million
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Maturity: | Nov. 30, 2063
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Coupon: | SOFR plus 35 bps, subject to a floor of 0%; payable quarterly
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Price: | Par
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Payout at maturity: | Par plus any interest
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Put option: | Annually on each Nov. 30 starting on Nov. 30, 2027; repurchase amount is initially 98, then 99 in 2028 and par thereafter
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Pricing date: | Nov. 28
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Settlement date: | Nov. 30
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Underwriter: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48133WX52
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