New Issue: JPMorgan prices $10.31 million callable step-up fixed-rate notes

By Marisa Wong

Madison, Wis., April 29 - JPMorgan Chase & Co. priced $10.31 million of callable step-up fixed-rate notes due April 30, 2028, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 3% for the first five years, stepping up to 3.25% on April 30, 2018, to 4% on April 30, 2024 and to 5% on April 30, 2027. Interest will be payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date after five years.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Callable step-up fixed-rate notes
Amount:	$10.31 million
Maturity:	April 30, 2028
Coupon:	3% initially, stepping up to 3.25% on April 30, 2018, to 4% on April 30, 2024 and to 5% on April 30, 2027; payable semiannually
Price:	Variable
Payout at maturity:	Par
Call option:	At par on any interest payment date beginning April 30, 2018
Pricing date:	April 25
Settlement date:	April 30
Agent:	J.P. Morgan Securities LLC
Fees:	3.57%, including 1.718% for selling concessions
Cusip:	48126DS75

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