Published on 5/29/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $846,000 callable step-up notes with 3% initial rate
By Susanna Moon
Chicago, May 29 – JPMorgan Chase & Co. priced $846,000 of callable step-up fixed-rate notes due May 29, 2030, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3% for first six years, stepping up to 4% on May 29, 2021 and to 6% on May 29, 2026. Interest is payable monthly.
The payout at maturity will be par.
The notes will be callable at par on any semiannual redemption date after six years.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Callable step-up fixed-rate notes
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| Amount: | $846,000
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| Maturity: | May 29, 2030
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| Coupon: | 3% for first six years, stepping up to 4% on May 29, 2021 and to 6% on May 29, 2026; payable monthly
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| Price: | Par
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| Payout at maturity: | Par
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| Call option: | At par on any semiannual redemption date beginning May 29, 2021
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| Pricing date: | May 27
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| Settlement date: | May 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48125UED0
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