New Issue: JPMorgan sells $1.95 million callable step-up notes with 1.5% start rate

By Marisa Wong

Madison, Wis., March 16 – JPMorgan Chase & Co. priced $1.95 million of callable step-up fixed-rate notes due March 17, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 2.1% for the first three years, stepping up to 3% on March 17, 2018, to 4% on March 17, 2021 and to 5% on March 17, 2022. Interest will be payable semiannually.

The payout at maturity will be par.

Beginning March 17, 2018, 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:	$1.95 million
Maturity:	March 17, 2023
Coupon:	2.1% initially, stepping up to 3% on March 17, 2018, to 4% on March 17, 2021 and to 5% on March 17, 2022; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par on any interest payment date beginning March 17, 2018
Pricing date:	March 12
Settlement date:	March 17
Agent:	J.P. Morgan Securities LLC
Fees:	1.06%, all for selling concessions
Cusip:	48125UCM2

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