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JPMorgan plans 15-year callable step-up notes with 3.25% initial rate
By Susanna Moon
Chicago, Nov. 21 – JPMorgan Chase & Co. plans to price callable step-up fixed-rate notes due Dec. 16, 2031, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3.25% for the first five years, stepping up to 3.5% on Dec. 16, 2021, to 4% on Dec. 16, 2026 and to 5% on Dec. 16, 2029. 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 Dec. 16, 2021.
J.P. Morgan Securities LLC is the agent.
The notes will price on Dec. 13 and settle on Dec. 16.
The Cusip number is 48128GG20.
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