Issuer: | JPMorgan Chase & Co. | |||||||
Security Type: | SEC Registered Senior Notes | |||||||
Security: | Floating Rate Notes due 2028 | |||||||
Currency: | USD | |||||||
Size: | $500,000,000 | |||||||
Maturity: | January 23, 2028 | |||||||
Payment Frequency: | Quarterly | |||||||
Day Count Fraction: | Actual/360 | |||||||
Index: | Benchmark rate, which will initially be Compounded SOFR as described under “Description of the Notes—Interest on the notes” in the Preliminary Prospectus Supplement. | |||||||
Re-offer Spread to Index: | +120 basis points | |||||||
Price to Public: | 100% of face amount | |||||||
Proceeds (Before Expenses) to Issuer: | $498,750,000 | |||||||
Interest Payment Dates: | January 23, April 23, July 23 and October 23 of each year, commencing April 23, 2024. | |||||||
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 January 23, 2027 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 to be redeemed plus accrued and unpaid interest thereon to, but excluding, the redemption date. | |||||||
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 December 23, 2027, 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 to be redeemed plus accrued and unpaid interest thereon to, but excluding, the redemption date. | ||||||||
The foregoing supplements and supersedes the information set forth under “Description of the Notes” in the Preliminary Prospectus Supplement. | ||||||||
CUSIP/ISIN: | 46647PDZ6 / US46647PDZ62 | |||||||
Trade Date: | January 16, 2024 | |||||||
Settlement Date: | January 23, 2024 (T+5) | |||||||
Denominations: | $2,000 x $1,000 | |||||||
Concurrent Issuance: | In addition to the notes described in this term sheet, JPMorgan Chase & Co. is concurrently offering $2,500,000,000 of fixed-to-floating rate notes due 2028, $2,500,000,000 of fixed-to-floating rate notes due 2030 and $3,000,000,000 of |
fixed-to-floating rate notes due 2035. The consummation of each of these offerings is not contingent on any other offering. | ||||||||
Sole Bookrunner: | J.P. Morgan Securities LLC | |||||||
Co-Managers: | Bank of China Limited, London Branch BBVA Securities Inc. BMO Capital Markets Corp. Capital One Securities, Inc. CIBC World Markets Corp. Commonwealth Bank of Australia Danske Markets Inc. Fifth Third Securities, Inc. Huntington Securities, Inc. ING Financial Markets LLC Intesa Sanpaolo IMI Securities Corp. KeyBanc Capital Markets Inc. Lloyds Securities Inc. Mizuho Securities USA LLC MUFG Securities Americas Inc. Nordea Bank Abp PNC Capital Markets LLC RB International Markets (USA) LLC RBC Capital Markets, LLC Regions Securities LLC Santander US Capital Markets LLC Scotia Capital (USA) Inc. SG Americas Securities, LLC SMBC Nikko Securities America, Inc. Standard Chartered Bank TD Securities (USA) LLC Truist Securities, Inc. U.S. Bancorp Investments, Inc. Westpac Capital Markets LLC Academy Securities, Inc. C.L. King & Associates, Inc. Cabrera Capital Markets LLC CastleOak Securities, L.P. Drexel Hamilton, LLC Falcon Square Capital LLC Great Pacific Securities Loop Capital Markets LLC Mischler Financial Group, Inc. |
Penserra Securities LLC R. Seelaus & Co., LLC Roberts & Ryan Investments, Inc. Samuel A. Ramirez & Company, Inc. Siebert Williams Shank & Co., LLC Telsey Advisory Group LLC Tigress Financial Partners, LLC |