By Sarah Lizee
Olympia, Wash., April 27 – JPMorgan Chase & Co. priced $1 million of fixed-to-floating rate notes due April 30, 2028 linked to the 10-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 5% initially. Beginning April 30, 2020, interest will be equal to the 10-year ICE swap rate. 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.
Issuer: | JPMorgan Chase & Co.
|
Issue: | Fixed-to-floating notes
|
Underlying rate: | 10-year U.S. dollar ICE swap rate
|
Amount: | $1 million
|
Maturity: | April 30, 2028
|
Coupon: | 5% initially; beginning April 30, 2020, equal to the 10-year ICE swap rate, subject to 0% floor; payable quarterly
|
Price: | Par
|
Payout at maturity: | Par
|
Call option: | Non-callable
|
Pricing date: | April 25
|
Settlement date: | April 30
|
Underwriter: | J.P. Morgan Securities LLC
|
Fees: | 1%
|
Cusip: | 48128GF70
|
© 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.