By Wendy Van Sickle
Columbus, Ohio, Feb. 1 – JPMorgan Chase Financial Co. LLC priced $1.5 million of callable floating-rate notes due Jan. 28, 2037 linked to the spread between the 30-year U.S. dollar ICE swap rate and the two-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will bear interest at the 30-year U.S. dollar ICE swap rate minus two-year U.S. dollar ICE swap rate minus 50 bps, all times 26. There is a maximum of 10% per year and a floor of 0%. Interest will be reset and payable quarterly.
The payout at maturity will be par plus accrued interest.
At the issuer's option, the notes are callable in whole or in part on any quarterly redemption date after one year.
J.P. Morgan Securities Inc. is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Underlying spread: | 30-year U.S. dollar ICE swap rate minus two-year U.S. dollar ICE swap rate
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| Issue: | Callable leveraged notes
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| Amount: | $1.5 million
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| Maturity: | Jan. 28, 2037
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| Coupon: | 30-year U.S. dollar ICE swap rate minus two-year U.S. dollar ICE swap rate minus 50 bps, all times 26 with floor of 0% and ceiling of 10%; reset and payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Call option: | On any quarterly redemption date after one year
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 28
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| Underwriter: | J.P. Morgan Securities Inc.
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| Fees: | 3.0417%
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| Cusip: | 48130UZV0
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