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JPMorgan plans knock-out buffered notes linked to S&P 500 index
By Marisa Wong
Madison, Wis., Jan. 24 - JPMorgan Chase & Co. plans to price 0% knock-out buffered notes due Feb. 9, 2017 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
A knock-out event occurs if the index ever falls by more than the knock-out buffer on any day during the life of the notes. The knock-out buffer will be at least 38.25% and will be set at pricing.
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.
J.P. Morgan Securities LLC is the underwriter.
The notes will price on Feb. 6 and settle on Feb. 11.
The Cusip number is 48126NZ83.
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