By Wendy Van Sickle
Columbus, Ohio, Dec. 15 – JPMorgan Chase Financial Co. LLC priced $26.7 million of floating-rate notes due Dec. 13, 2062 with an interest rate using SOFR as a benchmark rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is equal to SOFR plus 10 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 on Dec. 22. The repurchase price is 97 from 2023 to 2024, 98 from 2025 to 2027, 99 from 2028 to 2030 and par starting in 2031.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC 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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| Underlying: | SOFR
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| Amount: | $26.7 million
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| Maturity: | Dec. 13, 2062
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| Coupon: | SOFR plus 10 bps, subject to a floor of 0%; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par plus any interest
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| Put option: | Once annually at 97 from 2023 to 2024, 98 from 2025 to 2027, 99 from 2028 to 2030 and par starting in 2031
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| Pricing date: | Dec. 9
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| Settlement date: | Dec. 13
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| Underwriter: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48133PCN1
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