New Issue: JPMorgan sells $10.4 million 10-year fixed-to-floating notes with 4.3% initial rate

By Marisa Wong

Madison, Wis., July 19 - JPMorgan Chase & Co. priced $10.4 million of fixed-to-floating-rate notes due July 20, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 4.3% for the first two years. Beginning on July 20, 2013, the interest rate will be Libor plus 100 basis points, subject to a floor of zero and a cap of 7% 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:	$10.4 million
Maturity:	July 20, 2021
Coupon:	4.3% for two years; beginning on June 23, 2013, Libor plus 100 bps, subject to floor of zero and cap of 7% per year; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	July 18
Settlement date:	July 20
Agent:	J.P. Morgan Securities LLC
Fees:	1.041%, including 0.038% for selling concessions
Cusip:	48125XWU6

© 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.