By William Gullotti
Buffalo, N.Y., March 13 – JPMorgan Chase Financial Co. LLC priced $1.08 million of callable fixed-to-floating rate notes due Feb. 28, 2039, 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 18 months. After that, it will be 1.5 times the quantity of 7.25% minus 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 coupon payment date starting Feb. 28, 2026.
The payout at maturity will be par.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable fixed-to-floating rate notes
|
| Amount: | $1,075,000
|
| Underlying rate: | SOFR
|
| Maturity: | Feb. 28, 2039
|
| Coupon: | Initially 10%; beginning Aug. 28, 2025, 7.25% minus SOFR multiplied by 1.5, subject to floor of 0%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call: | At the issuer’s option at par plus any accrued and unpaid interest on any quarterly coupon date starting Feb. 28, 2026
|
| Pricing date: | Feb. 26
|
| Settlement date: | Feb. 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 48130CHK4
|
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