By Devika Patel
Knoxville, Tenn., May 12 – JPMorgan Chase & Co. priced $10.51 million of fixed-to-floating notes due June 5, 2025 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3% for the first two years. After that, it will be 0.95 times the 10-year Constant Maturity Swap rate. Interest will be payable quarterly.
The payout at maturity will be par of $1,000.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Fixed-to-floating notes
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| Underlying index: | 10-year Constant Maturity Swap rate
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| Amount: | $10.51 million
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| Maturity: | June 5, 2025
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| Price: | Par of $1,000
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| Coupon: | 3% for the first two years; after that, 0.95 of 10-year Constant Maturity Swap
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| Pricing date: | June 2
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| Settlement date: | June 5
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48125USV5
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