JPMorgan eyes callable fixed-to-floating notes on ICE swap rates

By Sarah Lizee

Olympia, Wash., Feb. 7 – JPMorgan Chase Financial Co. LLC plans to price callable fixed-to-floating notes due Feb. 14, 2040, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

The notes are callable at par on any interest payment date starting Feb. 14, 2022.

Interest will be fixed at 7% for the first two years. After that, it will be 4.1 times the spread of the 30-year U.S. Dollar ICE swap rate over the two-year U.S. Dollar ICE swap rate, up to a maximum rate of 6%. 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 Feb. 12.

The Cusip number is 48130UTR6.

© 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.