JPMorgan to price bearish knock-out notes due 2022 tied to S&P 500

By Sarah Lizee

Olympia, Wash., July 15 – JPMorgan Chase Financial Co. LLC plans to price 0% bearish knock-out notes due July 29, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

If the index ends at or above its initial level, the payout will be par.

If the index ends below its initial level but at or above the knock-out level of 72.5% of its initial level, the payout at maturity will be par plus the absolute value of the index return.

If the index ends below its knock-out level, the payout will be par plus 5%.

J.P. Morgan Securities LLC is the agent.

The notes will price on July 31.

The Cusip number is 48132CYS6.

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