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JPMorgan to price dual directional knock-out notes tied to S&P 500
By Sarah Lizee
Olympia, Wash., Nov. 13 – JPMorgan Chase Financial Co. LLC plans to price 0% dual directional knock-out notes due May 29, 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 81.75% of the initial level but at or below the upper knock-out level of 118.25% of its initial level, the payout at maturity will be par plus the absolute value of the index return.
If the index finishes above its upper level knock-out level or below its lower level knock-out level, the payout will be par plus 2%.
J.P. Morgan Securities LLC is the agent.
The notes (Cusip: 48130WCQ2) will price on Nov. 27 and settle on Nov. 30.
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