By Angela McDaniels
Tacoma, Wash., June 20 – JPMorgan Chase Financial Co. LLC priced $25 million of fixed-to-floating notes due June 20, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
The initial interest rate is 3.375%. Beginning June 20, 2022, the interest rate will be Libor plus 30 basis points, subject to a minimum interest rate of zero and a maximum interest rate of 4% per year. Interest is payable quarterly.
The payout at maturity will be par.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Fixed-to-floating notes
|
| Amount: | $25 million
|
| Maturity: | June 20, 2026
|
| Coupon: | Initially 3.375%; beginning June 20, 2022, Libor plus 30 bps, subject to minimum interest rate of zero and maximum interest rate of 4% per year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | June 18
|
| Settlement date: | June 20
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48128GYX2
|
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