By William Gullotti
Buffalo, N.Y., Jan. 30 – JPMorgan Chase Financial Co. LLC priced $30.73 million of floating rate notes due Jan. 30, 2063, 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 compounded SOFR plus 30 basis points, subject to a floor of 0%. Interest will be reset and payable quarterly.
Holders may require the issuer to repurchase the notes annually starting Jan. 30, 2028 at 97, stepping up to par starting Jan. 30, 2030.
The payout at maturity will be par plus accrued interest.
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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| Issue: | Floating rate notes
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| Amount: | $30.73 million
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| Maturity: | Jan. 30, 2063
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| Coupon: | Compounded SOFR plus 30 bps, floor of 0%; reset and payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Put option: | Annually starting Jan. 30, 2028 at 98 through Jan. 30, 2029; amount steps up to par starting Jan. 30, 2030
|
| Pricing date: | Jan. 25
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| Settlement date: | Jan. 30
|
| Underwriter: | J.P. Morgan Securities Inc.
|
| Fees: | 1%
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| Cusip: | 48133U2M3
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