By Wendy Van Sickle
Columbus, Ohio, March 10 – JPMorgan Chase Financial Co LLC priced $50 million of fixed-to-floating rate notes due April 8, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly fixed coupon at 6% per year to but excluding July 8, 2023.
After that, it will accrue at an annual rate of one-Year U.S. Dollar SOFR ICE swap rate plus 27.5 basis points, subject to a floor of 0% per annum.
The payout at maturity will be par plus any accrued interest.
The notes area 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: | April 8, 2024
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| Price: | Par
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| Coupon: | 6% annually, payable monthly to but excluding July 8, 2023; after that, one-Year U.S. Dollar SOFR ICE swap rate plus 27.5 bps with floor of 0% per annum, payable monthly
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| Payout at maturity: | Par plus any interest
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| Pricing date: | March 6
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| Settlement date: | March 8
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| Underwriter: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48133U2Z4
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