By Wendy Van Sickle
Columbus, Ohio, Dec. 18 – JPMorgan Chase Financial Co. LLC priced $66.25 million of floating-rate notes due Dec. 14, 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 30 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 on each Dec. 14 annually starting on Dec. 14, 2026. The repurchase amount is initially 97, then 98 in 2028, 99 in 2030 and par starting in 2032.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Floating-rate notes
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| Underlying: | SOFR
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| Amount: | $66.25 million
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| Maturity: | Dec. 14, 2063
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| Coupon: | SOFR plus 30 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 on each Dec. 14 starting on Dec. 14, 2026; repurchase amount is initially 97, then 98 in 2028, 99 in 2030 and par starting in 2032
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| Pricing date: | Dec. 12
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| Settlement date: | Dec. 14
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| Underwriter: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48133WX86
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