Published on 12/11/2013 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $253,000 fixed-to-floaters with 2.5% initial rate
By Jennifer Chiou
New York, Dec. 11 - JPMorgan Chase & Co. priced $253,000 of fixed-to-floating notes due Dec. 11, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 2.5% for the four years. After that, it will be Libor plus 30 basis points, subject to a minimum rate of 1%. Interest is payable quarterly.
The payout at maturity will be par.
J.P. Morgan Securities LLC is the underwriter.
Issuer: | JPMorgan Chase & Co.
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Issue: | Fixed-to-floating notes
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Amount: | $253,000
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Maturity: | Dec. 11, 2023
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Coupon: | 2.5% initially; beginning on Dec. 11, 2017, Libor plus 30 bps, floor of 1%; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing dates: | Dec. 6
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Settlement date: | Dec. 11
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Underwriter: | J.P. Morgan Securities LLC
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Fees: | 1.25%
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Cusip: | 48126NTH0
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