New Issue: JPMorgan prices $1.35 million five-year callable step-up notes with 3% initial rate

By Wendy Van Sickle

Columbus, Ohio, May 16 – JPMorgan Chase & Co. priced $300,000 of callable step-up fixed-rate notes due May 17, 2027, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 3% for the first six years, stepping up to 3.5% on May 17, 2023, to 4.5% on May 17, 2025 and to 6.5% on May 17, 2026. Interest will be payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date beginning May 17, 2023.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Callable step-up fixed-rate notes
Amount:	$1,347,000
Maturity:	May 17, 2027
Coupon:	3% for the first six years, stepping up to 3.5% on May 17, 2023, to 4.5% on May 17, 2025 and to 6.5% on May 17, 2026; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par on any interest payment date beginning May 17, 2023
Pricing date:	May 12
Settlement date:	May 17
Agent:	J.P. Morgan Securities LLC
Fees:	1%
Cusip:	48128GJ92

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