New Issue: JPMorgan sells $3 million callable step-up notes with 2.5% initial rate

By Sarah Lizee

Olympia, Wash., March 31 – JPMorgan Chase & Co. priced $3 million callable step-up fixed-rate notes due March 25, 2040, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 2.5% initially, stepping up to 2.75% on March 25, 2025, to 3% on March 25, 2030 and to 3.25% on March 25, 2035. Interest will be payable semiannually.

The payout at maturity will be par.

The notes will be callable in whole but not in part annually beginning on March 25, 2022.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Callable step-up fixed-rate notes
Amount:	$3 million
Maturity:	March 25, 2040
Coupon:	2.5% initially, stepping up to 2.75% on March 25, 2025, to 3% on March 25, 2030 and to 3.25% on March 25, 2035; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par annually beginning on March 25, 2022
Pricing date:	March 23
Settlement date:	March 25
Agent:	J.P. Morgan Securities LLC
Fees:	1.6167%
Cusip:	48128GS68

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.