JPMorgan to price 0% annual review notes linked to Nikkei 225

By Angela McDaniels

Seattle, June 8 - JPMorgan Chase & Co. plans to price 0% annual review notes due June 28, 2010 linked to the Nikkei 225 index, according to an FWP filing with the Securities and Exchange Commission.

The notes are expected to price June 15 and settle June 20.

The notes will be called at increasing premiums if the index level is at or above its initial level on one of three annual review dates. The redemption amount will be par plus at least 13.2% if the notes are called on June 23, 2008, par plus at least 26.4% if called June 23, 2009 and par plus at least 39.6% if called on June 23, 2010. The exact redemption amounts will be determined at pricing.

If the notes are not called, the payout at maturity will be par unless the index declines by more than 10%, in which case investors will lose 1.1111% for each 1% decline beyond 10%.

J.P. Morgan Securities will be the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.