JPMorgan plans five-year fixed-to-floating notes linked to Libor

By Marisa Wong

Morgantown, W.Va., Oct. 16 – JPMorgan Chase & Co. plans to price fixed-to-floating notes due Oct. 30, 2020, according to an FWP with the Securities and Exchange Commission.

The coupon will be fixed at 1.25% for the first year. After that, it will be equal to Libor plus 90 basis points. Interest is payable quarterly and cannot be less than zero.

The payout at maturity will be par.

J.P. Morgan Securities LLC is the agent.

The notes will price on Oct. 27 and settle on Oct. 30.

The Cusip number is 48125UZ39.

© 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.