By Wendy Van Sickle
Columbus, Ohio, May 9 – JPMorgan Chase Financial Co. LLC priced $14.75 million of floating-rate notes due May 8, 2063 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 25 basis points. Interest is payable quarterly and cannot be less than 0%.
The payout at maturity will be par plus any interest.
There will be a put option annually starting at 97, stepping up to 98 on May 8, 2027 and to par on May 8, 2028.
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: | $14.75 million
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Maturity: | May 8, 2063
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Coupon: | SOFR plus 25 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: | Annually starting at 97, stepping up to 98 on May 8, 2027 and to par on May 8, 2028
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Pricing date: | May 3
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Settlement date: | May 8
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Underwriter: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48133U6R8
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