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NEW YORK, May 09, 2024--(BUSINESS WIRE)--JPMorgan Chase & Co. ("JPMorgan Chase" or the "Firm") and JPMorgan Chase Financial Company LLC ("JPMorgan Financial") announced today the results of JPMorgan Financial’s offer to exchange (the "Exchange Offer") its Alerian MLP Index ETNs due January 28, 2044 (CUSIP: 48133Q309) (the "New Notes" ) for any and all outstanding Alerian MLP Index ETNs due May 24, 2024 (CUSIP: 46625H365) issued by JPMorgan Chase (the "Old Notes"). All payments of principal, interest and other amounts payable on the New Notes will be fully and unconditionally guaranteed by JPMorgan Chase (the "Guarantees"). The Old Notes are listed on NYSE Arca, Inc. ("NYSE Arca") under the ticker symbol "AMJ." The New Notes are listed on NYSE Arca under the ticker symbol "AMJB."
The Exchange Offer expired at 5:00 p.m. (New York City time) on May 8, 2024 (the "Expiration Deadline"). Pursuant to the Exchange Offer, JPMorgan Financial has received and accepted 19,437,415 Old Notes validly tendered and not validly withdrawn prior to the Expiration Deadline. All conditions to the Exchange Offer were deemed satisfied or waived by JPMorgan Financial as of the Expiration Deadline.
The aggregate number of New Notes to be issued by JPMorgan Financial is 19,437,415 reflecting the previously announced exchange ratio of one New Note per Old Note validly tendered in the Exchange Offer (and not validly withdrawn) prior to the Expiration Deadline and accepted for exchange (the "Exchange Ratio"). On May 13, 2024 (the "Settlement Date"), Noteholders whose Old Notes have been accepted for exchange pursuant to the Exchange Offer will receive a number of New Notes based on the Exchange Ratio, and JPMorgan Financial will consolidate such New Notes to form a single class with the New Notes first issued on January 30, 2024 that are currently outstanding.
Old Notes that have not been validly tendered and/or accepted for exchange pursuant to the Exchange Offer will remain outstanding.
JPMorgan Chase reminds holders of Old Notes that have not been validly tendered and/or accepted for exchange that the Old Notes will mature on May 24, 2024 in accordance with their terms. The last trading day of the Old Notes on NYSE Arca will be May 21, 2024.
A Registration Statement on Form S-4 relating to the issuance of the New Notes and the Guarantees pursuant to the Exchange Offer has been filed with the Securities and Exchange Commission and has been declared effective as of February 6, 2024. The Exchange Offer was made on the terms and subject to the conditions and restrictions set out in the amended and restated prospectus dated April 15, 2024 (the "Prospectus"). Capitalized terms used and not otherwise defined in this announcement have the meanings given in the Prospectus.