By Marisa Wong
Morgantown, W.Va., Nov. 1 – JPMorgan Chase & Co. priced $2 million of callable step-up fixed-rate notes due Oct. 31, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2% in years one through four, 2.25% in year five, 2.5% in year six, 4% in year seven and 6% in year eight. Interest is payable semiannually.
The payout at maturity will be par.
Beginning Oct. 31, 2020, the notes will be callable at par on any interest payment date.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Callable step-up fixed-rate notes
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Amount: | $2 million
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Maturity: | Oct. 31, 2024
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Coupon: | 2% in years one through four, 2.25% in year five, 2.5% in year six, 4% in year seven and 6% in year eight; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on any interest payment date beginning Oct. 31, 2020
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Pricing date: | Oct. 27
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Settlement date: | Oct. 31
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.219%
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Cusip: | 48128GK33
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