By Wendy Van Sickle
Columbus, Ohio, May 2 – JPMorgan Chase Financial Co. LLC priced $26 million of floating-rate notes due April 27, 2037 linked to SOFR, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is equal to SOFR minus 10 basis points. Interest is payable quarterly and cannot be less than 0%.
The payout at maturity will be par plus any interest.
Investors may request their notes be repurchased annually at 98 starting April 27, 2025 and at par starting April 27, 2028.
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: | Floating-rate notes
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Underlying: | SOFR
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Amount: | $26 million
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Maturity: | April 27, 2037
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Coupon: | SOFR minus 10 bps, subject to a floor of 0%; payable quarterly
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Price: | Par
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Payout at maturity: | Par plus any interest
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Put option: | Annually at 98 starting April 27, 2025 and at par starting April 27, 2028
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Pricing date: | April 25
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Settlement date: | April 27
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Underwriter: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48133DE97
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