By Wendy Van Sickle
Columbus, Ohio, May 3 – JPMorgan Chase Financial Co. LLC priced $67.35 million of floating-rate notes due April 29, 2062 linked to SOFR, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is equal to SOFR minus 25 basis points. Interest is payable quarterly and cannot be less than 0%.
The payout at maturity will be par plus any interest.
Investors may request their notes be repurchased annually at 97 starting April 29, 2025, at 99 starting April 29, 2031 and at par starting April 29, 2041.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Floating-rate notes
|
| Underlying: | SOFR
|
| Amount: | $67,346,000
|
| Maturity: | April 29, 2062
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| Coupon: | SOFR minus 25 bps, subject to a floor of 0%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus any interest
|
| Put option: | Annually at 97 starting April 29, 2025, at 99 starting April 29, 2031 and at par starting April 29, 2041
|
| Pricing date: | April 27
|
| Settlement date: | April 29
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48133DF39
|
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