JPMorgan plans 10-year floating-rate notes linked to 30-year CMS rate

By Susanna Moon

Chicago, March 13 - JPMorgan Chase & Co. plans to price floating-rate notes due March 28, 2024 linked to the 30-year Constant Maturity Swap rate, according to an FWP filing with the Securities and Exchange Commission.

Interest will be equal to the 30-year CMS rate times 75%, with a minimum coupon of 2%. Interest will be payable quarterly.

The payout at maturity will be par.

J.P. Morgan Securities LLC is the agent.

The notes will price on March 25 and settle on March 28.

The Cusip number is 48126N5N3.

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