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JPMorgan plans capped and floored fixed-to-floating notes due 2018
By Marisa Wong
Madison, Wis., March 15 - JPMorgan Chase & Co. plans to price fixed-to-floating notes due March 21, 2018, according to an FWP filing with the Securities and Exchange Commission.
The coupon will be 0.75% for the first year. After that, it will be Libor plus 50 basis points, with a minimum rate of 0.5% and a maximum rate of 4%. Interest is payable quarterly.
The payout at maturity will be par.
J.P. Morgan Securities LLC is the agent.
The notes will price on March 18 and settle on March 21.
The Cusip number is 48126DNM7.
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