By Wendy Van Sickle
Columbus, Ohio, Sept. 7 – JPMorgan Chase Financial Co. LLC priced $1.61 million of callable fixed-to-floating rate notes due Sept. 2, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes are callable at par on any quarterly interest payment date starting after one year.
Interest will be fixed at 6% for the first year.
After that, it will be 7.5 times the spread of the 30-year U.S. dollar ICE swap rate over the two-year U.S. dollar ICE swap rate. Interest is payable quarterly and cannot be less than 1% per annum or greater than 10%.
The payout at maturity will be par.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable fixed-to-floating rate notes
|
| Amount: | $1,605,000
|
| Underlying rates: | 30-year U.S. Dollar ICE swap rate and two-year U.S. Dollar ICE swap rate
|
| Maturity: | Sept. 2, 2025
|
| Coupon: | Initially 6%; beginning after year, 7.5 times the spread of the 30-year U.S. Dollar ICE swap rate over the two-year U.S. Dollar ICE swap rate; payable quarterly, floor of 1% and cap of 10%
|
| Call option: | On any interest payment date starting after one year
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 2
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 48133MBR0
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
