By Wendy Van Sickle
Columbus, Ohio, Aug. 11 – JPMorgan Chase & Co. priced $6.6 million of fixed- to floating-rate notes due Jan. 30, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 2% for the first year. After that, the rate will be SOFR plus 35 basis points, subject to a floor of zero and a cap of 4% 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-rate notes
|
| Amount: | $6.6 million
|
| Maturity: | Jan. 30, 2029
|
| Coupon: | 2% for year; thereafter, SOFR plus 35 bps, subject to floor of zero and cap of 4% per year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | July 28
|
| Settlement date: | July 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.75%
|
| Cusip: | 48128G4K3
|
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