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JPMorgan plans dual directional knock-out notes tied to S&P 500 index
By Devika Patel
Knoxville, Tenn., June 27 – JPMorgan Chase Financial Co. LLC plans to price 0% dual directional knock-out notes due July 2, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
If the index ends at or above its lower level knock-out level of 80% of the initial level but at or below the upper knock-out level of 110% of its initial level, the payout at maturity will be par plus the absolute value of the index return.
If the index finishes below its lower level knock-out level, the payout will be par plus $60 per $1,000 of notes.
Otherwise the payout will be par.
J.P. Morgan Securities LLC is the agent.
The notes (Cusip: 48129M4U7) will price on June 28 and settle July 3.
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