By Wendy Van Sickle
Columbus, Ohio, Aug. 9 – JPMorgan Chase Financial Co. LLC priced $1.1 million of fixed-to-floating rate notes due Feb. 5, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest will be fixed at 5% for the first year. After that, it will be equal to SOFR, subject to a floor of 1% and a cap of 5%. Interest is payable quarterly.
The payout at maturity will be par.
Wells Fargo Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Fixed-to-floating rate notes
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| Amount: | $1.1 million
|
| Underlying rate: | SOFR
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| Maturity: | Feb. 5, 2025
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| Coupon: | Initially 5%; after first year, SOFR, subject to floor of 1% and a cap of 5%; payable quarterly
|
| Price: | Par
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| Payout at maturity: | Par
|
| Pricing date: | Aug. 3
|
| Settlement date: | Aug. 5
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 0.55%
|
| Cusip: | 48133DP79
|
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