New Issue: JPMorgan prices $790,000 callable step-up notes with 4% initial rate

By Toni Weeks

San Luis Obispo, Calif., Sept. 23 - JPMorgan Chase & Co. priced $790,000 of callable step-up fixed-rate notes due Sept. 23, 2028, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 4% for the first five years, stepping up to 4.5% on Sept. 23, 2018 and to 5% on Sept. 23, 2023. Interest will be payable semiannually.

The payout at maturity will be par.

Beginning Sept. 23, 2018, the notes will be callable at par on any interest payment date.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Callable step-up fixed-rate notes
Amount:	$790,000
Maturity:	Sept. 23, 2028
Coupon:	4% initially, stepping up to 4.5% on Sept. 23, 2018 and to 5% on Sept. 23, 2023; payable semiannually
Price:	Variable prices
Payout at maturity:	Par
Call option:	At par on any interest payment date beginning Sept. 23, 2018
Pricing date:	Sept. 19
Settlement date:	Sept. 23
Agent:	J.P. Morgan Securities LLC
Fees:	1.229%, all for selling concessions
Cusip:	48126D7E3

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