By William Gullotti
Buffalo, N.Y., May 12 – JPMorgan Chase Financial Co. LLC priced $4.5 million of floating rate notes due May 2, 2063, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will bear interest at compounded SOFR plus 35 basis points, subject to a floor of 0%. Interest will be reset and payable quarterly.
Holders may require the issuer to repurchase the notes annually, starting May 2, 2027 at 98. The repurchase amount steps up to par on May 2, 2044.
The payout at maturity will be par plus accrued interest.
J.P. Morgan Securities Inc. is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Floating rate notes
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Amount: | $4.5 million
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Maturity: | May 2, 2063
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Coupon: | Compounded SOFR plus 35 bps, floor of 0%; reset and payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Put option: | Annually starting May 2, 2027 at 98; amount steps up to par starting May 2, 2044
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Pricing date: | April 28
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Settlement date: | May 2
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Underwriter: | J.P. Morgan Securities Inc.
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Fees: | 1%
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Cusip: | 48133U6B3
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