By Susanna Moon
Chicago, June 21 - JPMorgan Chase & Co. priced $3.5 million of fixed-to-floating notes due June 21, 2023 lined to the five-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be equal to the five-year CMS rate plus 15 basis points, up to a maximum rate of 7.5%. 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 & Co.
|
| Issue: | Fixed-to-floating notes
|
| Underlying component: | Five-year CMS rate
|
| Amount: | $3.5 million
|
| Maturity: | June 21, 2023
|
| Coupon: | Five-year CMS rate plus 15 bps, capped at 7.5% and floor of zero; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing date: | June 18
|
| Settlement date: | June 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.25%
|
| Cusip: | 48126DX46
|
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