By Jennifer Chiou
New York, Jan. 23 - JPMorgan Chase & Co. priced $10 million of fixed-to-floating notes due Jan. 24, 2019, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2.625% for the first two years. Beginning on Jan. 24, 2014, the interest rate will be Libor plus 225 basis points, subject to a minimum rate of 0% and a maximum of 6.5% per year. Interest is payable quarterly.
The payout at maturity will be par.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Fixed-to-floating notes
|
| Amount: | $10 million
|
| Maturity: | Jan. 24, 2019
|
| Coupon: | Initially 2.625%; beginning on Jan. 24, 2014, Libor plus 225 bps, subject to minimum rate of 0% and a maximum of 6.5% per year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Jan. 19
|
| Settlement date: | Jan. 24
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.365%
|
| Cusip: | 48125VGD6
|
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