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JPMorgan to price bearish knock-out notes due 2021 tied to S&P 500
Chicago, Feb. 26 – JPMorgan Chase Financial Co. LLC plans to price 0% bearish knock-out notes due March 4, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the index ends at or above its initial level, the payout will be par.
If the index ends below its initial level but at or above the knock-out level of 72% of its initial level, the payout at maturity will be par plus the absolute value of the index return.
If the index ends below its knock-out level, the payout will be par plus 5%.
J.P. Morgan Securities LLC is the agent.
The notes will price on Feb. 28.
The Cusip number is 48130WYN5.
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