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JPMorgan plans 15-year callable step-up notes with 5% initial rate
By Susanna Moon
Chicago, April 27 - JPMorgan Chase & Co. plans to price callable fixed-rate step-up notes due May 12, 2026, according to an FWP filing with the Securities and Exchange Commission.
The coupon will be 5% for the first five years. It will step up to 5.1% on May 12, 2016 and to 5.2% on May 12, 2021. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning May 12, 2021.
J.P. Morgan Securities LLC is the agent.
The notes will price on May 9 and settle on May 12.
The Cusip is 48125XNY8.
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