By Sarah Lizee
Olympia, Wash., Nov. 9 – JPMorgan Chase & Co. priced $1.31 million of floating-rate notes due Nov. 13, 2058 linked to Libor, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is equal to Libor minus 45 basis points. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes are putable beginning Nov. 13, 2021 and every year after that. The redemption price is 98 until Nov. 13, 2028, 99 until Nov. 13, 2038 and par after that.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Floating-rate notes
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| Amount: | $1.31 million
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| Maturity: | Nov. 13, 2058
|
| Coupon: | Libor minus 45 bps, subject to a floor of 0%; payable quarterly
|
| Price: | Par
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| Payout at maturity: | Par
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| Put option: | Beginning Nov. 13, 2021 and every year after that; redemption price is 98 until Nov. 13, 2028, 99 until Nov. 13, 2038 and par onwards
|
| Pricing date: | Nov. 8
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| Settlement date: | Nov. 13
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| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48130UPL3
|
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