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JPMorgan plans 10-year callable step-up notes with 2.625% initial rate
By Susanna Moon
Chicago, March 4 – JPMorgan Chase & Co. plans to price callable step-up fixed rate notes due March 23, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2.625% for the first five years, stepping up to 3% on March 23, 2021, to 4% on March 23, 2023, to 5% on March 23, 2024 and to 7% after that. 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 March 23, 2021.
J.P. Morgan Securities LLC is the agent.
The notes will price on March 18 and settle on March 23.
The Cusip number is 48125U2S0.
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