By Wendy Van Sickle
Columbus, Ohio, Aug. 18 – JPMorgan Chase Financial Co. LLC priced $16.88 million of fixed-to-floating notes due Feb. 16, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
The initial interest rate is 2%. Beginning Aug. 16, 2022, the interest rate will be SOFR plus 35 basis points, subject to a minimum interest rate of zero and a maximum interest rate of 4% per year. Interest is payable quarterly.
The payout at maturity will be par.
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: | Fixed-to-floating notes
|
| Amount: | $16,875,000
|
| Maturity: | Feb. 16, 2029
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| Coupon: | Initially 2%; beginning Aug. 16, 2022, SOFR plus 35 bps, subject to minimum interest rate of zero and maximum interest rate of 4% per year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Aug. 12
|
| Settlement date: | Aug. 16
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.75%
|
| Cusip: | 48128G4S6
|
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