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JPMorgan to price five-year high/low yield notes linked to S&P 500
By Susanna Moon
Chicago, March 4 – JPMorgan Chase & Co. plans to price high/low yield notes due March 31, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be at least 4.25% if the annual index return is at least 0% for that annual review date. Otherwise, the notes will pay 2% per year. Interest is payable annually.
The payout at maturity will be par unless the index falls by more than 15%, in which case investors will lose 1% for every 1% decline beyond 15%.
J.P. Morgan Securities LLC is the agent.
The notes will price on March 28 and settle on March 31.
The Cusip number is 48128GQV5.
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