Chicago, April 12 – JPMorgan Chase Financial Co. LLC priced $4 million of callable fixed-to-floating rate notes due Jan. 22, 2027, 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 7% for the first year.
After that, it will be 15 times the spread of the 10-year U.S. dollar SOFR ICE swap rate minus the two-year U.S. dollar SOFR ICE swap rate, subject to a floor of 0%. Interest is payable quarterly.
The notes are callable at par plus any accrued and unpaid interest on any quarterly interest payment date after one year.
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: | Callable fixed-to-floating rate notes
|
| Amount: | $4 million
|
| Underlying rates: | 10-year U.S. Dollar SOFR ICE swap rate and two-year U.S. Dollar SOFR ICE swap rate
|
| Maturity: | Jan. 22, 2027
|
| Coupon: | Initially 7%; beginning Jan. 22, 2025, 15 times the spread of the 10-year U.S. Dollar SOFR ICE swap rate minus the two-year U.S. Dollar SOFR ICE swap rate, subject to a floor of 0%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call: | At the issuer’s option at par plus any accrued and unpaid interest on any quarterly review date beginning Jan. 22, 2025
|
| Pricing date: | Jan. 18
|
| Settlement date: | Jan. 22
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.75%
|
| Cusip: | 48133W2B3
|
|
|
© 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.
