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JPMorgan plans callable step-up notes due 2022 with 2% initial rate
By Susanna Moon
Chicago, Aug. 13 - JPMorgan Chase & Co. plans to price callable fixed-rate step-up notes due Aug. 30, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 2% initially, stepping up to 2.25% on Aug. 30, 2014, to 2.75% on Aug. 30, 2016, to 3% on Aug. 30, 2018, to 4% on Aug. 30, 2020 and to 5% on Aug. 30, 2021. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after one year.
J.P. Morgan Securities LLC is the agent.
The notes will price on Aug. 28 and settle on Aug. 30.
The Cusip number is 48125VJ76.
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