By William Gullotti
Buffalo, N.Y., July 26 – JPMorgan Chase Financial Co. LLC priced $50 million of callable fixed-to-floating rate notes due Aug. 25, 2023, 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 3.75% for the first four months. After that, it will be the two-year U.S. dollar SOFR ICE swap rate plus 45 basis points, subject to a floor of 1.5%. Interest is payable quarterly.
The notes may be called at par plus any accrued and unpaid interest on Feb. 25, 2023.
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: | $50 million
|
Underlying rate: | Two-year U.S. dollar SOFR ICE swap rate
|
Maturity: | Aug. 25, 2023
|
Coupon: | Initially 3.75%; beginning Nov. 25, 2022, two-year U.S. dollar SOFR ICE swap rate plus 45 bps, subject to floor of 1.5%; payable quarterly
|
Price: | Par
|
Payout at maturity: | Par
|
Call: | At the issuer’s option at par plus any accrued and unpaid interest on Feb. 25, 2023
|
Pricing date: | July 21
|
Settlement date: | July 25
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 1.25%
|
Cusip: | 48133DN63
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.