Chicago, July 24 – JPMorgan Chase Financial Co LLC priced $60 million of fixed-to-floating rate notes due Aug. 20, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly fixed coupon at 7% per year for the first four months.
After that, it will accrue at an annual rate of one-Year U.S. Dollar SOFR ICE swap rate plus 35 basis points, subject to a floor of 1% per annum.
The payout at maturity will be par plus any accrued interest.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Fixed-to-floating rate notes
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Amount: | $60 million
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Maturity: | Aug. 20, 2024
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Price: | Par
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Coupon: | 7% annually, payable monthly for first four months; after that, one-Year U.S. Dollar SOFR ICE swap rate plus 35 bps with floor of 1% per annum, payable monthly
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Payout at maturity: | Par plus any interest
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Pricing date: | July 18
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Settlement date: | July 20
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Underwriter: | J.P. Morgan Securities LLC
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Fees: | 0.0675%
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Cusip: | 48133UAJ1
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