JPMorgan plans fixed-to-floating notes with 1% initial interest rate

By Angela McDaniels

Tacoma, Wash., Sept. 17 - JPMorgan Chase & Co. plans to price fixed-to-floating-rate notes due Sept. 24, 2017, according to an FWP filing with the Securities and Exchange Commission.

The interest rate will be 1% for the first year. Beginning Sept. 24, 2013, it will be Libor plus 70 basis points, subject to a minimum interest rate of 1% per year and a maximum interest rate of 4% per year. Interest will be payable quarterly.

The payout at maturity will be par.

The notes are expected to price Sept. 20 and settle Sept. 24.

J.P. Morgan Securities LLC is the agent.

The Cusip number is 48125V5H9.

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