By Marisa Wong
Madison, Wis., Sept. 27- JPMorgan Chase & Co. priced a total of $21.01 million of callable fixed-rate step-up notes due Sept. 28, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
JPMorgan priced an initial $20,735,000 of the notes on Sept. 22 and priced $275,000 of additional notes in a reopening on Sept. 23.
The coupon will be 4% for the first five years. It will step up to 4.5% on Sept. 28, 2016, to 5% on Sept. 28, 2021 and to 6% on Sept. 28, 2024. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning Sept. 28, 2012.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Callable fixed-rate step-up notes
|
| Amount: | $21.01 million
|
| Maturity: | Sept. 28, 2026
|
| Coupon: | 4% for first five years; steps up to 4.5% on Sept. 28, 2016, to 5% on Sept. 28, 2021 and to 6% on Sept. 28, 2024; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date after one year
|
| Pricing date: | Sept. 22 for $20,735,000; Sept. 23 for $275,000
|
| Settlement date: | Sept. 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.162%, including 1% for selling concessions
|
| Cusip: | 48125XX35
|
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