New Issue: JPMorgan prices $6.07 million callable step-up notes with 3% initial rate

By Angela McDaniels

Tacoma, Wash., May 17 – JPMorgan Chase & Co. priced $6.07 million of callable step-up fixed-rate notes due May 18, 2031, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 3% in years one through five, 3.5% in years six through nine, 4% in years 10 through 13, 5% in year 14 and 7% in year 15. Interest is payable semiannually.

The payout at maturity will be par.

Beginning May 18, 2021, 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:	$6,072,000
Maturity:	May 18, 2031
Coupon:	3% in years one through five, 3.5% in years six through nine, 4% in years 10 through 13, 5% in year 14 and 7% in year 15; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par on any interest payment date beginning May 18, 2021
Pricing date:	May 13
Settlement date:	May 18
Agent:	J.P. Morgan Securities LLC
Fees:	1.518%
Cusip:	48128GTM2

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