New Issue: JPMorgan prices $3 million callable step-up notes with 3.5% initial rate

By Angela McDaniels

Tacoma, Wash., Nov. 5 – JPMorgan Chase & Co. priced $3 million of callable step-up fixed-rate notes due Oct. 30, 2035, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 3.5% in years one through seven, 3.75% in years eight through 10, 4% in years 11 through 13, 4.5% in years 14 through 16, 5% in year 17, 5.5% in year 18, 7% in year 19 and 8.5% in year 20. Interest is payable semiannually.

The payout at maturity will be par.

Beginning Oct. 30, 2022, 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:	$3 million
Maturity:	Oct. 30, 2035
Coupon:	3.5% in years one through seven, 3.75% in years eight through 10, 4% in years 11 through 13, 4.5% in years 14 through 16, 5% in year 17, 5.5% in year 18, 7% in year 19 and 8.5% in year 20; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par on any interest payment date beginning Oct. 30, 2022
Pricing date:	Oct. 28
Settlement date:	Oct. 30
Agent:	J.P. Morgan Securities LLC
Fees:	2.883%
Cusip:	48125UZ47

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