By Susanna Moon
Chicago, Jan. 24 - JPMorgan Chase & Co. priced $3 million of callable fixed-rate step-up notes due Jan. 26, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 4.25% for the first five years. After that, the rate will be 5.25% to Jan. 26, 2021 and 6.5% until maturity. Interest is payable semiannually.
The payout at maturity will be par.
The notes are callable at par on any interest payment date beginning Jan. 26, 2016.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Callable fixed-rate step-up notes
|
| Amount: | $3 million
|
| Maturity: | Jan. 26, 2026
|
| Coupon: | 4.25% for years one through five, 5.25% through year 10 and 6.5% through year 15; payable semiannually
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date after five years
|
| Pricing date: | Jan. 21
|
| Settlement date: | Jan. 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.23%, including 2% for selling concessions
|
| Cusip: | 48125XCC8
|
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