New Issue: JPMorgan sells $5 million fixed-to-floaters on 10-year ICE swap rate

By Sarah Lizee

Olympia, Wash., Feb. 8 – JPMorgan Chase & Co. priced $5 million of fixed-to-floating notes due Feb. 8, 2029 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 fixed at 5.5% for the first two years. After that, interest will be the equal to the 10-year U.S. dollar ICE swap rate plus 5 basis points, with a minimum interest rate of 0%. 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
Underlying:	10-year U.S. dollar ICE swap rate
Amount:	$5 million
Maturity:	Feb. 8, 2029
Coupon:	5.5% initially; beginning Feb. 8, 2021, 10-year U.S. dollar ICE swap rate plus 5 bps, with a minimum interest rate of 0%, payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	Feb. 6
Settlement date:	Feb. 8
Agent:	J.P. Morgan Securities LLC
Fees:	0.75%
Cusip:	48128GYW4

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