By Wendy Van Sickle
Columbus, Ohio, April 12 – JPMorgan Chase Financial Co. LLC priced $68.31 million of floating-rate notes due April 11, 2062, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will bear interest at compounded SOFR minus 35 basis points with a floor of 0%. Interest will be reset and payable quarterly.
The payout at maturity will be par plus accrued interest.
Holders may require the issuer to repurchase the notes annually. at 97 starting on April 11, 2025, at 98 starting April 11, 2036, at 99 starting April 11, 2046 and at par starting April 11, 2056.
J.P. Morgan Securities Inc. is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Floating-rate notes
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| Amount: | $68,308,000
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| Maturity: | April 11, 2062
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| Coupon: | Compounded SOFR minus 35 bps, floor of 0%; reset and payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Put option: | Annually starting April 11, 2025 at 97 through April 11, 2035; amount steps up to 98 for the next 10 years, to 99 for the 10 years after that and to par starting April 11, 2056
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| Pricing date: | April 7
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| Settlement date: | April 11
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| Underwriter: | J.P. Morgan Securities Inc.
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| Fees: | 1%
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| Cusip: | 48133DE30
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