By William Gullotti
Buffalo, N.Y., Sept. 12 – JPMorgan Chase Financial Co. LLC priced $12.11 million of floating rate notes due Sept. 8, 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 plus 10 basis points, subject to a floor of 0%. Interest will be reset and payable quarterly.
Holders may require the issuer to repurchase the notes annually starting Sept. 8, 2023 at 97, stepping up to 98 on Sept. 8, 2025, to 99 on Sept. 8, 2028 and to par starting Sept. 8, 2031.
The payout at maturity will be par plus accrued interest.
J.P. Morgan Securities Inc. is the agent with UBS Financial Services Inc. handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Floating rate notes
|
| Amount: | $12,108,000
|
| Maturity: | Sept. 8, 2062
|
| Coupon: | Compounded SOFR plus 10 bps, floor of 0%; reset and payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Put option: | Annually starting Sept. 8, 2023 at 97; amount steps up to 98 on Sept. 8, 2025, to 99 on Sept. 8, 2028 and to par starting Sept. 8, 2031
|
| Pricing date: | Sept. 2
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| Settlement date: | Sept. 8
|
| Underwriter: | J.P. Morgan Securities Inc. with UBS Financial Services Inc. handling distribution
|
| Fees: | 1%
|
| Cusip: | 48133MCG3
|
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