By Angela McDaniels
Seattle, Dec. 28 - JPMorgan Chase & Co. priced a $6.5 million issue of zero-coupon principal-protected notes due Dec. 26, 2008 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any positive return on the index up to a maximum return of 16.5%. Investors will receive at least par.
The initial index level is to be determined and will equal the average of the index's closing level on 19 dates in December and January. The final index level will equal the average of the index's closing level on 20 dates in November and December of 2008.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Principal-protected senior notes
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| Underlying index: | S&P 500
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| Amount: | $6.5 million
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| Maturity: | Dec. 26, 2008
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus any positive index return; return is capped at 16.5% with a floor of par
|
| Pricing date: | Dec. 22
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| Settlement date: | Dec. 29
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| Agent: | J.P. Morgan Securities Inc.
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| Agent fees: | 1.72%, includes 0.86% selling consession
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