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JPMorgan plans dual direction knock-out notes tied to S&P 500
By Susanna Moon
Chicago, Jan. 15 – JPMorgan Chase Financial Co. LLC plans to price 0% dual directional knock-out notes due July 31, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A trigger event occurs if the index ever closes above its 118.75% upside knock-out level or below its 81.25% downside knock-out level.
If a trigger event occurs on any day during the life of the notes, the payout at maturity will be par plus the upside payment of 2%.
Otherwise, if the index gains or falls by up to 18.75%, the payout will be par plus the absolute value of the index return.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
The notes will price on Jan. 28.
The Cusip number is 48130WST9.
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