By William Gullotti
Buffalo, N.Y., July 26 – JPMorgan Chase Financial Co. LLC priced $77.16 million of floating rate notes due July 25, 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 10 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 July 25, 2024 at 97. The put price will step up to 98 starting July 25, 2026, to 99 starting July 25, 2029 and to par starting July 25, 2032.
The payout at maturity will be par plus accrued interest.
J.P. Morgan Securities Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Floating rate notes
|
| Amount: | $77,158,000
|
| Maturity: | July 25, 2063
|
| Coupon: | Compounded SOFR plus 10 bps, floor of 0%; reset and payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Put option: | Annually starting July 25, 2024 at 97 through July 25, 2025; amount steps up to 98 starting July 25, 2026, to 99 starting July 25, 2029 and to par starting July 25, 2032
|
| Pricing date: | July 20
|
| Settlement date: | July 25
|
| Agents: | J.P. Morgan Securities Inc. and UBS Financial Services Inc.
|
| Fees: | 1%
|
| Cusip: | 48133WF86
|
|
|
© 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.
