JPMorgan plans 10-year floating-rate notes linked to 10-year CMS rate

By Susanna Moon

Chicago, May 22 – JPMorgan Chase & Co. plans to price floating-rate notes due May 29, 2025, according to an FWP with the Securities and Exchange Commission.

Interest will be 97% of the 10-year Constant Maturity Swap rate, with a minimum rate of 0%. Interest is payable quarterly.

The payout at maturity will be par.

J.P. Morgan Securities LLC is the agent.

The notes will price on May 27 and settle on May 29.

The Cusip number is 48125USU7.

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