JPMorgan plans callable step-up notes with 2.5% initial interest rate

By Susanna Moon

Chicago, June 15 – JPMorgan Chase & Co. plans to price callable step-up fixed-rate notes due June 23, 2023, according to an FWP filing with the Securities and Exchange Commission.

The interest rate will be 2.5% for the first four years, stepping up to 3% on June 23, 2019, to 4% on June 23, 2021 and to 6% on June 23, 2022. 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 June 23, 2019.

J.P. Morgan Securities LLC is the agent.

The notes will price on June 19 and settle on June 23.

The Cusip number is 48125UTK8.

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