Published on 8/29/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.28 million callable step-up notes with 3% initial rate
By Angela McDaniels
Tacoma, Wash., Aug. 29 – JPMorgan Chase & Co. priced $5.28 million of callable step-up fixed-rate notes due Aug. 29, 2036, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3% in years one through nine, 3.25% in years 10 through 13, 3.5% in years 14 through 17, 4% in year 18, 5% in year 19 and 6% in year 20. Interest is payable semiannually.
The payout at maturity will be par.
Beginning Aug. 29, 2023, the notes will be callable at par on any interest payment date.
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: | $5,276,000
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Maturity: | Aug. 29, 2036
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Coupon: | 3% in years one through nine, 3.25% in years 10 through 13, 3.5% in years 14 through 17, 4% in year 18, 5% in year 19 and 6% in year 20; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on any interest payment date beginning Aug. 29, 2023
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Pricing date: | Aug. 25
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Settlement date: | Aug. 29
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.124%
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Cusip: | 48128GG61
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