By Wendy Van Sickle
Columbus, Ohio, May 17 – JPMorgan Chase Financial Co. LLC priced $38.27 million of floating-rate notes due May 16, 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 98 starting May 16, 2025 and at par starting May 16, 2058.
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: | $38,267,000
|
| Maturity: | May 16, 2062
|
| 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 98 starting May 16, 2025, and at par starting May 16, 2058
|
| Pricing date: | May 12
|
| Settlement date: | May 16
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48133DG53
|
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