| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for S&P 500 index > News item |
JPMorgan plans knock-out buffered notes due 2016 linked to S&P 500
By Susanna Moon
Chicago, Aug. 19 – JPMorgan Chase & Co. plans to price 0% knock-out buffered notes due Feb. 24, 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 down by more than the 19.35% knock-out buffer amount on any day during the life of the notes or if its ending level falls below the knock-out level. The ending level will be the arithmetic average of Feb. 12, 2016, Feb. 16, 2016, Feb. 17, 2016, Feb. 18, 2016 and Feb. 19, 2016.
If the index finishes at or above its initial level, the payout at maturity will be par plus the return.
If the index falls but a knock-out event never occurs, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
The notes will price on Aug. 22 and settle on Aug. 27.
The Cusip number is 48127DXM5.
© 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.