New Issue: JPMorgan prices $1 million callable step-up notes with 3.5% start rate

By Sarah Lizee

Olympia, Wash., March 16 – JPMorgan Chase & Co. priced $1 million of callable step-up fixed-rate notes due March 16, 2033, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 3.5% initially, stepping up to 4% on March 16, 2023, to 5% on March 16, 2027 and to 6% on March 16, 2031. Interest is payable semiannually.

The payout at maturity will be par.

Beginning March 16, 2021, the notes will be callable in whole 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:	$1 million
Maturity:	March 16, 2033
Coupon:	3.5% initially, stepping up to 4% on March 16, 2023, to 5% on March 16, 2027 and to 6% on March 16, 2031; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par in whole quarterly beginning March 16, 2021
Pricing date:	March 14
Settlement date:	March 16
Underwriter:	J.P. Morgan Securities LLC
Fees:	1.45%
Cusip:	48128GH78

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