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JPMorgan Chase Announces Completion and Final Results of Cash Tender Offer for Certain of Its Senior Notes

·4 mins read

JPMorgan Chase & Co. ("JPMorgan Chase") announced today the completion and final results for the cash tender offer (the "Offer") by J.P. Morgan Securities LLC ("J.P. Morgan Securities"), a wholly owned indirect subsidiary of JPMorgan Chase, to purchase any and all of the securities of JPMorgan Chase listed below (the "Securities"). JPMorgan Chase has been advised that the aggregate principal amounts specified in the table below have been validly tendered and not validly withdrawn pursuant to the Offer.

CUSIP
Number

Title of Security

Interest

Rate

Maturity

Aggregate
Principal Amount
Outstanding

Aggregate Principal

Amount Validly

Tendered and Not

Validly Withdrawn(1)

46625HQJ2

2.550% Notes due 2021

2.550%

March 1, 2021

$2,500,000,000

$764,687,000

46625HQK9

Floating Rate Notes due 2021

3 month LIBOR + 1.48%

March 1, 2021

$691,362,000(2)

$279,686,000

46625HHZ6

4.625% Notes due 2021

4.625%

May 10, 2021

$2,000,000,000

$675,694,000

46625HRU6

Floating Rate Notes due 2021

3 month LIBOR + 1.10%

June 7, 2021

$750,000,000

$226,289,000

46625HRT9

2.400% Notes due 2021

2.400%

June 7, 2021

$1,500,000,000

$535,977,000

46625HJC5

4.350% Notes due 2021

4.350%

August 15, 2021

$3,000,000,000

$1,243,306,000

46625HJD3

4.500% Notes due 2022

4.500%

January 24, 2022

$3,250,000,000

$1,556,350,000

46647PAS5

Fixed-to-Floating Rate Notes due 2022

3.514%

June 18, 2022

$1,400,000,000

$782,477,000

46647PAT3

Floating Rate Notes due 2022

3 month LIBOR + 0.61%

June 18, 2022

$1,100,000,000

$747,059,000

(1) Excludes $316,000 of 2.550% Notes due 2021, $200,000 of Floating Rate Notes due 2021 (CUSIP: 46625HQK9), $16,000,000 of 4.625% Notes due 2021, $27,000 of 4.350% Notes due 2021, $748,000 of 4.500% Notes due 2022, $42,000 of Fixed-to-Floating Rate Notes due 2022 and $1,357,000 of Floating Rate Notes due 2022 tendered by Notice of Guaranteed Delivery as to which tendered securities have yet to be delivered.

(2) $58,638,000 principal amount of the Floating Rate Notes due 2021 (CUSIP: 46625HQK9) were repurchased and cancelled by JPMorgan Chase in March 2020.

The $6,811,525,000 aggregate principal amount of Securities validly tendered and not validly withdrawn does not include an aggregate of $18,690,000 principal amount of Securities tendered in accordance with guaranteed delivery procedures, which Securities must be delivered by 5:00 p.m., New York City time, on September 22, 2020 as set forth in the Offer to Purchase referenced below.

The Offer expired at 5:00 p.m., New York City time, on September 18, 2020. J.P. Morgan Securities has accepted for payment all Securities validly tendered and not validly withdrawn pursuant to the Offer. Under the terms of the Offer, Securities validly tendered other than by notice of guaranteed delivery and not validly withdrawn will be paid for on the initial settlement date, which is expected to be today, September 21, 2020. Under the terms of the Offer, Securities validly tendered by notice of guaranteed delivery and not validly withdrawn will be paid for on the final settlement date, which is expected to be September 23, 2020.

The Offer was being made pursuant to an Offer to Purchase dated September 14, 2020 and the related Notice of Guaranteed Delivery.

D.F. King & Co., Inc. is serving as the tender agent and information agent. Requests for documents may be directed to D.F. King & Co., Inc. by telephone at +1-212-269-5550 (banks and brokers) or +1 866-796-7182 or email at jpm@dfking.com. Questions regarding the Offer may be directed to J.P. Morgan Securities at +1 866-834-4666 or collect at +1 212-834-8553.

This press release is for informational purposes only and does not constitute an offer to purchase nor the solicitation of an offer to sell any Securities. The Offer was made only pursuant to the Offer to Purchase and related Notice of Guaranteed Delivery and was not made to holders of Securities in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $3.2 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200921005481/en/

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212-270-2479

Media Contact:
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212-270-7438