Published on 4/27/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $11.72 million callable step-up notes due 2032
By Angela McDaniels
Tacoma, Wash., April 27 - JPMorgan Chase & Co. priced $11.72 million of callable fixed-rate step-up notes due April 30, 2032, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 4% in years one through five, 4.25% in years six through 10, 4.5% in years 11 through 15 and 5% in years 16 through 20. Interest is payable semiannually.
The payout at maturity will be par.
Beginning April 30, 2017, the notes will be callable at par on any interest payment date.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Callable fixed-rate step-up notes
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Amount: | $11,719,000
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Maturity: | April 30, 2032
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Coupon: | 4% in years one through five, 4.25% in years six through 10, 4.5% in years 11 through 15 and 5% in years 16 through 20; payable semiannually
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Price: | Variable prices
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Payout at maturity: | Par
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Call option: | At par on any interest payment date from April 30, 2017 onward
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Pricing date: | April 25
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Settlement date: | April 30
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Agent: | J.P. Morgan Securities LLC
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Fees: | 4.454%, including 1.791% for selling concessions
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Cusip: | 48125VUK4
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