By Jennifer Chiou
New York, Feb. 8 - JPMorgan Chase & Co. priced a $13.921 million issue of 0% outperformance buffered return enhanced notes due Feb. 10, 2009 linked to the S&P 500 and Russell 2000 indexes, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the S&P 500 is greater than that of the Russell 2000, investors will receive par plus twice the difference between the returns. The total return on the notes will be capped at 42.5%.
If the Russell 2000 return is greater than the S&P 500 return by up to 10%, the payout will be par. Investors will lose 1% for every 1% beyond 10% that the Russell 2000 outperforms the S&P 500.
JPMorgan said it still owns $60,000 of notes that were not sold to investors and will retain them for at least 60 days.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Outperformance buffered return enhanced notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $13.921 million
|
| Maturity: | Feb. 10, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus twice the difference between the returns if the S&P 500 return is greater than the Russell 2000 return, capped at 42.5%; par if the Russell 2000 return is greater than the S&P 500 return by up to 10%; 1% loss for every 1% beyond 10% that the Russell 2000 outperforms the S&P 500
|
| Pricing date: | Feb. 6
|
| Settlement date: | Feb. 12
|
| Agent: | J.P. Morgan Securities Inc.
|
| Agent fees: | 1.3%
|
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