JPMorgan Chase & Co. completed its cash tender offer for certain senior debt securities due 2020.
The offer expired at 5 p.m. ET on Aug. 26. The company accepted for payment all securities validly tendered and not validly withdrawn pursuant to the offer.
The notes validly tendered and not validly withdrawn had an aggregate principal amount of nearly $2.70 billion. These included about $636.5 million of 2.250% notes due Jan. 23, 2020; $402.3 million of floating rate notes due Jan. 23, 2020; $294.8 million of 4.950% notes due March 25, 2020; $658.2 million of 2.750% notes due June 23, 2020; and $708.1 million of 4.40% notes due July 22, 2020.
The aggregate principal amount of notes validly tendered and not validly withdrawn does not include a total of about $1.7 million principal amount of notes tendered in accordance with guaranteed delivery procedures. Notes tendered by notice of guaranteed delivery will be delivered by 5 p.m. ET on Aug. 28.
Under the terms of the offer, securities validly tendered other than by notice of guaranteed delivery and not validly withdrawn will be paid for on the initial settlement date, which is expected to be Aug. 27. Securities validly tendered by notice of guaranteed delivery and not validly withdrawn will be paid for on the final settlement date, which is expected to be Aug. 29.
J.P. Morgan Securities LLC acted as dealer manager for the offer, and D.F. King & Co. Inc. is serving as the tender agent and information agent.
