New Issue: JPMorgan prices $5.06 million seven-year callable step-up notes with 2% initial rate

By Wendy Van Sickle

Columbus, Ohio, June 14 – JPMorgan Chase & Co. priced $5.06 million callable step-up fixed-rate notes due June 16, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 2% for the first four years, stepping up to 3% on June 16, 2020, to 5% on June 16, 2021 and to 7% on June 16, 2022. Interest will be payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on any call date beginning June 16, 2020.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Callable step-up fixed-rate notes
Amount:	$5,055,000
Maturity:	June 16, 2023
Coupon:	2% for the first four years, stepping up to 3% on June 16, 2020, to 5% on June 16, 2021 and to 7% on June 16, 2022; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par on any interest payment date beginning June 16, 2020
Pricing date:	June 13
Settlement date:	June 16
Agent:	J.P. Morgan Securities LLC
Fees:	0.89%
Cusip:	48128GUP3

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