By Angela McDaniels
Tacoma, Wash., Nov. 24 – JPMorgan Chase & Co. priced $14.5 million of callable step-up fixed-rate notes due Nov. 25, 2028, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3% in years one through five, 4% for the next five and a half years, 6% for the following 18 months and 8.25% for the final year. Interest is payable semiannually.
The payout at maturity will be par.
Beginning Nov. 25, 2020, the notes will be callable at par on any interest payment date.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Callable step-up fixed-rate notes
|
| Amount: | $14.5 million
|
| Maturity: | Nov. 24, 2028
|
| Coupon: | 3% in years one through five, 4% for next five and a half years, 6% for following 18 months and 8.25% for final year; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning Nov. 25, 2020
|
| Pricing date: | Nov. 20
|
| Settlement date: | Nov. 25
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.829%
|
| Cusip: | 48125U2F8
|
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