By William Gullotti
Buffalo, N.Y., July 10 – JPMorgan Chase Financial Co. LLC priced $175 million of fixed-to-floating notes due Feb. 28, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest will be fixed at 5.5% for the first six months.
After that, it will be the two-year U.S. dollar ICE swap rate plus 100 basis points. Interest is payable quarterly and cannot be less than 0%.
The payout at maturity will be par.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Fixed-to-floating notes
|
| Amount: | $175 million
|
| Underlying rate: | two-year U.S. Dollar ICE swap rate
|
| Maturity: | Feb. 28, 2025
|
| Coupon: | Initially 5.5%; after six months, two-year U.S. Dollar ICE swap rate plus 100 bps, subject to floor of 0%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Feb. 24
|
| Settlement date: | Feb. 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48130CAP0
|
|
|
© 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.
