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JPMorgan plans callable step-up notes due 2020 with 1.25% initial rate
By Susanna Moon
Chicago, Jan. 29 – JPMorgan Chase & Co. plans to price callable step-up fixed-rate notes due Feb. 18, 2020, according to an FWP filing with the Securities and Exchange Commission.
Interest will be 1.25% for the first three years, stepping up to 3.5% on Feb. 18, 2018. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning Feb. 18, 2018.
J.P. Morgan Securities LLC is the agent.
The notes will price on Feb. 13 and settle on Feb. 18.
The Cusip number is 48127DQD3.
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