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JPMorgan plans issue of 0% buffered return enhanced notes linked to S&P 500
By Jennifer Chiou
New York, June 1 - JPMorgan Chase & Co. plans to price an issue of 0% buffered return enhanced notes due Oct. 18, 2007 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The pricing date is expected to be on or about June 9 with a June 14 settlement date.
Noteholders will receive par plus twice any positive return on the index, up to a maximum payout of at least 14.6%. The exact level of the maximum return will be set at pricing.
If the ending index level declines by 10% or less, payout at maturity will be par. Holders will lose 1.1111% for each 1% decline beyond 10%.
J.P. Morgan Securities Inc. will be underwriter.
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