JPMorgan Chase & Co. set terms for $3,700,000 of callable step-up fixed-rate notes due September 21, 2035, priced at $1,000 per note. Investors receive a fixed-income instrument with rates that rise over time, but face JPMorgan’s unsecured Credit risk and the possibility of early redemption.

Key Highlights

  • The notes carry a total public price of $3,700,000, while JPMorgan Chase & Co. expects $3,672,250 after $27,750 in fees and commissions.
  • Each note has a $1,000 principal amount, with $7.50 in selling commissions and $992.50 in proceeds to JPMorgan.
  • The securities are unsecured, unsubordinated obligations and are not bank deposits or insured by the Federal Deposit Insurance Corporation.

The securities are intended for investors seeking fixed income whose scheduled Interest Rate increases over time, while accepting the possibility of Redemption before maturity.

JPMorgan Sets Terms for September 2035 Notes

Each note has a $1,000 price to the public. Selling commissions are $7.50 per note, leaving $992.50 per note for JPMorgan Chase & Co.; across the offering, fees and commissions total $27,750 and proceeds to JPMorgan are $3,672,250. J.P. Morgan Securities LLC is acting as the agent and will pass the $7.50 commission per $1,000 principal amount note to other affiliated or unaffiliated dealers. The notes form part of JPMorgan’s Series E medium-term notes. They are not bank deposits, do not have Federal Deposit Insurance Corporation coverage or other governmental-agency insurance, and are not guaranteed by a bank. Investors who hold them to Maturity or to a redemption date selected by JPMorgan will receive at least the principal amount, while the securities may be called before September 21, 2035 if general interest rates remain unchanged or decline.