By Angela McDaniels
Tacoma, Wash., March 25 - JPMorgan Chase & Co. priced $15 million of fixed-to-floating notes due April 8, 2016 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 2% for the first year. After that, the interest rate will be the year-over-year change in the Consumer Price Index plus 80 basis points, subject to a minimum of zero and a maximum of 6% per year in each interest period. Interest is payable monthly.
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 index: | Consumer Price Index
|
| Amount: | $15 million
|
| Maturity: | April 8, 2016
|
| Coupon: | 2% for one year; thereafter, year-over-year change in CPI plus 80 bps, subject to floor of zero and cap of 6%; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | March 23
|
| Settlement date: | April 8
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.14%, including 0.2% for selling concessions
|
| Cusip: | 48125XKN5
|
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