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JPMorgan plans 5% fixed-to-floaters linked to 10-year ICE swap rate
By Sarah Lizee
Olympia, Wash., April 17 – JPMorgan Chase & Co. plans to price fixed-to-floating rate notes due April 30, 2028 linked to the 10-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 5% initially. Beginning April 30, 2020, interest will be equal to the 10-year ICE swap rate. 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 (Cusip: 48128GF70) will price on April 25 and settle on April 30.
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