New Issue: JPMorgan prices $1.25 million 10-year fixed-to-floaters with 4% initial rate

By Jennifer Chiou

New York, June 22 - JPMorgan Chase & Co. priced $1.25 million of fixed-to-floating-rate notes due June 23, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 4% for the first two years. Beginning on June 23, 2013, the interest rate will be Libor plus 100 basis points, subject to a floor of zero and a cap of 6.5% per year in each interest period. Interest will be payable quarterly.

The payout at maturity will be par.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Fixed-to-floating notes
Amount:	$1.25 million
Maturity:	June 23, 2021
Coupon:	4% for two years; beginning on June 23, 2013, Libor plus 100 basis points, subject to floor of zero and cap of 6.5% per year; payable quarterly
Price:	Variable
Payout at maturity:	Par
Pricing date:	June 20
Settlement date:	June 23
Agent:	J.P. Morgan Securities LLC
Fees:	2.038%, including 1% for selling concessions
Cusip:	48125XUQ7

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