JPMorgan Chase Financial Company LLC Launches Offering of Cash-Settled Equity Linked Notes Linked to the Common Stock of Voya...
April 23 2018 - 4:10PM
Business Wire
JPMorgan Chase Financial Company LLC (the “Issuer”) today
announces the launch of an offering of its cash-settled equity
linked notes linked to the common stock of Voya Financial, Inc.
(“Voya”) due May 1, 2023 (the “Notes”). The Notes will be sold in a
private offering to qualified institutional buyers pursuant to Rule
144A under the Securities Act of 1933, as amended (the “Securities
Act”). JPMorgan Chase & Co. will fully and unconditionally
guarantee the Issuer’s obligations under the Notes.
The Notes are expected to pay interest semiannually in arrears
and will be cash-settled only at maturity or upon early conversion
at the option of the holder. The amount of cash payable at maturity
or upon early conversion will be based on the volume-weighted
average price of the common stock of Voya.
The Notes will be issued in minimum denominations of $100,000
and integral multiples of $1,000 in excess thereof at an issue
price of 100% of the principal amount and will mature on May 1,
2023 unless earlier converted (for cash). Settlement and delivery
of the Notes is expected to take place on May 2, 2018.
J.P. Morgan Securities LLC is acting as Sole Bookrunner.
The Notes have not been and will not be registered under the
Securities Act or applicable state securities laws, and may not be
offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the
Securities Act and applicable state securities laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the Notes, nor shall there be any
sale of the Notes in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global
financial services firm with assets of $2.6 trillion and operations
worldwide. The Firm is a leader in investment banking, financial
services for consumers and small businesses, commercial banking,
financial transaction processing, and asset management. A component
of the Dow Jones Industrial Average, JPMorgan Chase & Co.
serves millions of customers in the United States and many of the
world's most prominent corporate, institutional and government
clients under its J.P. Morgan and Chase brands. Information about
JPMorgan Chase & Co. is available at www.jpmorganchase.com.
Investment suitability must be determined individually for each
investor, and the Notes may not be suitable for all investors. This
information is not intended to provide and should not be relied
upon as providing accounting, legal, regulatory or tax advice.
Investors should consult with their own advisors as to these
matters.
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version on businesswire.com: https://www.businesswire.com/news/home/20180423006400/en/
JPMorgan ChaseJessica Francisco,
212-270-1719Jessica.francisco@jpmorgan.com
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