By Sarah Lizee
Olympia, Wash., Sept. 6 – JPMorgan Chase Financial Co. LLC priced $2 million of callable step-up fixed-rate notes due Feb. 28, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The interest rate is 2.25% initially, stepping up to 2.3% on Aug. 31, 2020, to 2.4% on Aug. 31, 2021 and to 2.5% on Aug. 31, 2022. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par quarterly starting on Feb. 29, 2020.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable step-up fixed-rate notes
|
| Amount: | $2 million
|
| Maturity: | Feb. 28, 2023
|
| Coupon: | 2.25% initially, stepping up to 2.3% on Aug. 31, 2020, to 2.4% on Aug. 31, 2021 and to 2.5% on Aug. 31, 2022; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par quarterly starting on Feb. 29, 2020
|
| Pricing date: | Aug. 28
|
| Settlement date: | Aug. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.4%
|
| Cusip: | 48130URN7
|
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