Chicago, Dec. 4 – JPMorgan Chase Financial Co. LLC priced $6.34 million of callable fixed-to-floating rate notes due Nov. 30, 2038, 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 10% for the first two years. After that, it will accrue at double the quantity of 7% minus compounded SOFR, subject to a floor of 0%. Interest is payable quarterly.
The notes may be called at par plus any accrued and unpaid interest on any quarterly interest payment date starting Nov. 30, 2025.
The payout at maturity will be par.
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: | Callable fixed-to-floating rate notes
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| Amount: | $6,335,542
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| Maturity: | Nov. 30, 2038
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| Coupon: | Initially 10% for two years; then, 7% minus compounded SOFR times two, subject to floor of 0%; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Call option: | Quarterly at par plus any accrued and unpaid interest starting Nov. 30, 2025
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| Pricing date: | Nov. 28
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| Settlement date: | Nov. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.7006%
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| Cusip: | 48130CDV4
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