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JPMorgan plans dual directional knock-out notes due 2020 tied to S&P
New York, June 26 – 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 above its upper knock-out level, the payout at maturity will be par. The upper knock-out level will be 110% of the initial index level.
If the index ends at or below its upper knock-out level and at or above its lower knock-out level then the payout at maturity will be par plus the absolute value of the index return. The lower knock-out level will be 80% of the initial index level.
If the index ends below its lower knock-out level, the payout at maturity will be par plus 6%.
J.P. Morgan Securities LLC is the agent.
The notes will price on June 28 and settle on July 3.
The Cusip is 48129M4U7.
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