By Wendy Van Sickle
Columbus, Ohio, Feb. 29 – JPMorgan Chase Financial Co LLC priced $50 million of fixed-to-floating rate notes due March 26, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly. The interest rate is 5.5% per year for the first three months. After that, it will be SOFR plus 17 basis points, subject to a minimum interest rate of zero.
The payout at maturity will be par plus any accrued interest.
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: | Fixed-to-floating rate notes
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Amount: | $50 million
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Maturity: | March 26, 2025
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Price: | Par
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Coupon: | 5.5% per year for first three months; after that, SOFR plus 17 bps with floor of zero, payable monthly
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Payout at maturity: | Par plus any interest
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Pricing date: | Feb. 22
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Settlement date: | Feb. 26
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Underwriter: | J.P. Morgan Securities LLC
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Fees: | 0.04%
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Cusip: | 48133W3P1
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