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JPMorgan plans knock-out buffered notes linked to S&P 500 index
By Jennifer Chiou
New York, Aug. 20 - JPMorgan Chase & Co. plans to price 0% knock-out buffered notes due Sept. 1, 2016 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
A knock-out event occurs if the index ever falls by more than the knock-out percentage on any day during the life of the notes. The knock-out percentage will be at least 39.85%.
If the index finishes above its initial level, the payout at maturity will be par plus the gain.
If the index falls but a knock-out event never occurs, the payout at maturity will be par.
Otherwise, investors will be fully exposed to any losses.
The notes (Cusip: 48126NPA9) will price on Aug. 29 and settle on Sept. 4.
J.P. Morgan Securities LLC is the agent.
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