Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers G > Headlines for gold > News item |
JPMorgan plans to price knock-out notes linked to gold
By Sarah Lizee
Olympia, Wash., Nov. 20 – JPMorgan Chase Financial Co. LLC plans to price 0% knock-out notes due Dec. 11, 2020 linked to gold, 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 day during the life of the notes the commodity closes above 130% of its initial level.
If a knock-out event has not occurred, the payout at maturity will be 96% of par plus the return of the commodity, subject to a floored payout of $960 per $1,000 of notes. This means that the price of gold needs to rise by at least 4% for investors to receive their principal back.
If a knock-out event has occurred, the payout will be $1,170.50 per $1,000 note.
J.P. Morgan Securities LLC is the agent.
The notes will price on Nov. 22.
The Cusip number is 48130UST3.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.