By Susanna Moon
Chicago, Dec. 12 – JPMorgan Chase Financial Co. LLC priced $10 million of fixed-to-floating notes due Nov. 30, 2027 linked to the 10-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The coupon will be 3.25% for the first two years. After that, the coupon will be a floating rate equal to the 10-year U.S. dollar ICE swap rate. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
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: | Fixed-to-floating notes
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| Amount: | $10 million
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| Maturity: | Nov. 30, 2027
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| Coupon: | 3.25% initially; beginning Nov. 30, 2019, 10-year U.S. dollar ICE swap rate; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | Nov. 22
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| Settlement date: | Nov. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48128GF96
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