By Angela McDaniels
Tacoma, Wash., May 29 – JPMorgan Chase & Co. priced $2 million of floating-rate notes due May 29, 2025 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 97% of the 10-year CMS rate, subject to a minimum coupon of zero. Interest is payable quarterly.
The payout at maturity will be par.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Floating-rate notes
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Amount: | $2 million
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Maturity: | May 29, 2025
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Coupon: | 97% of 10-year CMS rate, subject to minimum of zero; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | May 27
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Settlement date: | May 29
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.75%
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Cusip: | 48125USU7
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