Racing off chips, can it make you broke?

[HavanaBanana]

Imagine you have two 100 chips left in a tournament, and that is all you got, you get to the break, go for some fresh air, and when you come back you are out of the tournament as your chips have been raced off to make smallest denomination 500.

Does this happen, or are you assured to be left with atleast 1 (500)chip?

Jack 'TreeHouse' Strauss won the WSOP Main Event from 1 chip left...

ToT