By Wendy Van Sickle
Columbus, Ohio, Dec. 22 – JPMorgan Chase Financial Co LLC priced $50 million of fixed-to-floating rate notes due Jan. 19, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly fixed coupon at 6% per year to but excluding June 19, 2023.
After that, it will accrue at an annual rate of two-Year U.S. Dollar SOFR ICE swap rate plus 40 basis points, subject to a floor of 0% per annum.
The payout at maturity will be par plus any accrued interest.
The notes area guaranteed by JPMorgan Chase & Co.
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 rate notes
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Amount: | $50 million
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Maturity: | Jan. 19, 2024
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Price: | Par
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Coupon: | 6% annually, payable monthly to but excluding June 19, 2023; after that, two-Year U.S. Dollar SOFR ICE swap rate plus 40 bps with floor of 0% per annum, payable monthly
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Payout at maturity: | Par plus any interest
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Pricing date: | Dec. 15
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Settlement date: | Dec. 19
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Underwriter: | J.P. Morgan Securities LLC
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Fees: | 0.25%
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Cusip: | 48133PCB7
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