JPMorgan plans four-year upside knock-out notes linked to S&P 500

By Toni Weeks

San Diego, Jan. 19 - JPMorgan Chase & Co. plans to price 0% upside knock-out notes due Jan. 25, 2016 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

A knock-out event occurs if the index ever closes above the knock-out level, 140% to 150% of the initial level, during the life of the notes.

If a knock-out event does not occur, the payout at maturity is par plus the index return. Investors will receive par should the index decline. Because of the knock-out level, the maximum payment will be $1,400 to $1,500 per $1,000 principal amount of notes.

If a knock-out event occurs, the payout at maturity will be par plus 10%.

The exact terms will be set at pricing.

The notes (Cusip: 48125VKB5) will price Jan. 20 and settle Jan. 25.

J.P. Morgan Securities LLC will be the agent.

© 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.