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JPMorgan to price dual directional knock-out notes tied to S&P 500
By Sarah Lizee
Olympia, Wash., Sept. 20 – JPMorgan Chase Financial Co. LLC plans to price 0% dual directional knock-out notes due Sept. 30, 2021 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.
A knock-out event will occur if on any during the life of the notes the index closes below 81.5% of its initial level.
If a knock-out event never occurs, the payout will be par plus the absolute value of the index return.
If a knock-out event occurs, the payout will be par plus 2%.
J.P. Morgan Securities LLC is the agent.
The notes (Cusip: 48132FNJ1) will price on Sept. 25.
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