By Wendy Van Sickle
Columbus, Ohio, May 27 – JPMorgan Chase Financial Co. LLC priced $100,000 of callable fixed-to-floating notes due May 7, 2031, 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 May 7, 2022.
Interest will be fixed at 5% for the first year.
After that, it will be five times the spread of the 30-year U.S. dollar ICE swap rate over the five-year U.S. dollar ICE swap rate minus 0.25%, up to a maximum rate of 7%. Interest is payable quarterly and cannot be less than 0%.
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 notes
|
| Amount: | $100,000
|
| Underlying rates: | 30-year U.S. Dollar ICE swap rate and five-year U.S. Dollar ICE swap rate
|
| Maturity: | May 7, 2031
|
| Coupon: | Initially 5%; beginning May 7, 2022, five times the spread of the 30-year U.S. Dollar ICE swap rate over the five-year U.S. Dollar ICE swap rate minus 0.25%, up to a maximum rate of 7%; payable quarterly, floor of 0%
|
| Call option: | On any interest payment date starting May 7, 2022
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing date: | May 5
|
| Settlement date: | May 7
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.1%
|
| Cusip: | 48130UVW2
|
|
|
© 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.
