Filed Pursuant to Rule 433
Registration No. 333-230098
Dated: June 21, 2021
Pricing Term Sheet
This term sheet supplements the information set forth under Description of the Notes in the Prospectus Supplement, subject to completion, dated June 21, 2021 to the Prospectus dated April 11, 2019 (the Preliminary Prospectus Supplement).
Issuer: |
JPMorgan Chase & Co. |
Security Type: |
SEC Registered Senior Notes |
Security: |
Floating Rate Notes due 2025 |
Currency: |
USD |
Size: |
$500,000,000 |
Maturity: |
June 23, 2025 |
Payment Frequency: |
Quarterly |
Day Count Fraction: |
Actual/360 |
Index: |
Benchmark rate, which will initially be Compounded SOFR as described under Description of the NotesInterest on the notes in the Preliminary Prospectus Supplement. |
Re-offer Spread to Index: |
+58 basis points |
Price to Public: |
100% of face amount |
Proceeds (Before Expenses) to Issuer: |
$498,750,000 |
Interest Payment Dates: |
March 23, June 23, September 23 and December 23 of each year, commencing September 23, 2021 |
Business Day: |
New York |
Business Day Convention: |
Modified Following Business Day |
Reset Frequency: |
Quarterly |
Optional Redemption: |
We may redeem the notes, at our option, in whole, but not in part, on June 23, 2024 upon at least 5 days but no more than 60 days notice to holders of the notes, at a redemption price equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest thereon to, but excluding, the date of redemption. |
In addition, we may redeem the notes, at our option, in whole at any time or in part from time to time, on or after May 23, 2025, upon at least 5 days but no more than 60 days notice to holders of the notes, at a redemption price equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest thereon to, but excluding, the date of redemption. |
The foregoing supplements and supersedes the information set forth under Description of the Notes in the Preliminary Prospectus Supplement. |
CUSIP/ISIN: |
46647PCL8 / US46647PCL85 |
Trade Date: |
June 21, 2021 |
Settlement Date: |
June 23, 2021 (T+2) |
Denominations: |
$2,000 x $1,000 |
Concurrent Issuance: |
In addition to the notes described in this term sheet, JPMorgan Chase & Co. is concurrently offering $2,000,000,000 of fixed-to-floating rate notes due 2025. The consummation of each of these offerings is not contingent on any other offering. |
Sole Bookrunner: |
J.P. Morgan Securities LLC |
Co-Managers: |
Blaylock Van, LLC |
CastleOak Securities, L.P.
Loop Capital Markets LLC
Siebert Williams Shank & Co., LLC
Certain of the underwriters are not U.S. registered broker-dealers, and will not effect any offers or sales of any notes in the United States unless it is through one or more U.S. registered broker-dealers as permitted by the regulations of the Financial Industry Regulatory Authority, Inc.
JPMorgan Chase & Co. has filed a registration statement (including a prospectus, as supplemented by a prospectus supplement) with the Securities and Exchange Commission, or SEC, for the offering to which this term sheet relates. Before you invest, you should read the prospectus in that registration statement, the prospectus supplement and any other documents relating to this offering that JPMorgan Chase & Co. has filed with the SEC for more complete information about JPMorgan Chase & Co. and this offering. You may get these documents without cost by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling collect 1-212-834-4533.
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