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JPMorgan plans knockout buffered notes linked to S&P 500 index
By Susanna Moon
Chicago, March 6 - JPMorgan Chase & Co. plans to price 0% knockout buffered notes due March 23, 2017 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
A knockout event occurs if the index ever falls by more than the 37% knockout buffer on any day during the life of the notes.
If the index finishes above its initial level, the payout at maturity will be par plus the gain.
If the index falls but a knockout 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 March 20 and settle on March 25.
The Cusip number is 48127DAY4.
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