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Published on 2/28/2024 in the Prospect News Structured Products Daily.

New Issue: JPMorgan sells $29.05 million floating-rate notes on SOFR

By Wendy Van Sickle

Columbus, Ohio, Feb. 28 – JPMorgan Chase Financial Co LLC priced $29.05 million of floating-rate notes due Feb. 27, 2064, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly. The interest rate is the SOFR plus 10 basis points, subject to a minimum interest rate of zero.

The payout at maturity will be par plus any accrued interest.

The notes will be putable annually on Feb. 27 starting in 2027 at 97, then at 98 in 2029, 99 in 2031 and at par starting in 2033.

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.
Issue:Floating-rate notes
Amount:$29.05 million
Maturity:Feb. 27, 2064
Price:Par
Coupon:SOFR plus 10 bps with floor of zero, payable quarterly
Put option:Annually on Feb. 27 starting in 2027 at 97, then at 98 in 2029, 99 in 2031 and at par starting in 2033
Payout at maturity:Par plus any interest
Pricing date:Feb. 22
Settlement date:Feb. 27
Underwriter:J.P. Morgan Securities LLC
Fees:1%
Cusip:48133W3U0

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