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JPMorgan plans to price callable fixed-rate step-up notes due 2032
By Marisa Wong
Madison, Wis., Aug. 31 - JPMorgan Chase & Co. plans to price callable fixed-rate step-up notes due Sept. 17, 2032, according to an FWP filing with the Securities and Exchange Commission.
The coupon will be 3% for the first 10 years and will step up to 5% on Sept. 17, 2022 and to 7.6% on Sept. 17, 2027. Interest is payable monthly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning Sept. 17, 2013.
The notes (Cusip: 48125VK33) are expected to price Sept. 10 and settle Sept. 17.
J.P. Morgan Securities LLC is the agent.
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