Published on 9/1/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $750,000 callable step-up notes with 2% initial rate
By Marisa Wong
Morgantown, W.Va., Sept. 1 – JPMorgan Chase & Co. priced $750,000 of callable step-up fixed-rate notes due Aug. 31, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 2% initially, stepping up to 2.5% on Aug. 31, 2018 and to 3.5% on Aug. 31, 2019. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning Aug. 31, 2018.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Callable step-up fixed-rate notes
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| Amount: | $750,000
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| Maturity: | Aug. 31, 2020
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| Coupon: | 2% initially, stepping up to 2.5% on Aug. 31, 2018 and to 3.5% on Aug. 31, 2019; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any semiannual redemption date beginning Aug. 31, 2018
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.75%
|
| Cusip: | 48125UUQ3
|
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| http://www.sec.gov/Archives/edgar/data/19617/000089109215007601/e65788_424b2.htm
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