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JPMorgan plans callable step-up fixed-rate notes with 2.5% initial rate
By Sarah Lizee
Olympia, Wash., Aug. 20 – JPMorgan Chase & Co. plans to price callable step-up fixed-rate notes due Sept. 16, 2027, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2.5% initially, stepping up to 2.75% on Sept. 16, 2024 and to 3% on Sept. 16, 2026. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on Sept. 16, 2021, Sept. 16, 2022, Sept. 16, 2025 and Sept. 16, 2026.
J.P. Morgan Securities LLC is the agent.
The notes will price on Sept. 12.
The Cusip number is 48128GF62.
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