By Jennifer Chiou
New York, July 3 - JPMorgan Chase & Co. priced a $5.19 million issue of 0% annual review notes due July 12, 2010 linked to the Dow Jones Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at increasing premiums if the index level is at or above the initial index level on one of three annual review dates.
For each $1,000 principal amount, the redemption amount will be par plus 11.95% if the notes are called on July 7, 2008, par plus 23.9% if called on July 7, 2009 and par plus 35.85% if called on July 7, 2010.
If the notes are not called, the payout at maturity will par unless the index declines by more than 10%. Investors will lose 1.1111% for every 1% decline in the index beyond 10%.
J.P. Morgan Securities Inc. is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Annual review notes
|
| Underlying index: | Dow Jones Euro Stoxx 50
|
| Amount: | $5.19 million
|
| Maturity: | July 12, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | Automatically called if index level is at or above the initial index level on an annual review date; payout will be par plus 11.95% if the notes are called on July 7, 2008, par plus 23.9% if called on July 7, 2009 and par plus 35.85% if called on July 7, 2010
|
| Payout at maturity: | Par unless index declines by more than 10%, in which case 1.1111% loss for each 1% decline beyond 10%
|
| Initial index level: | 4,489.77
|
| Pricing date: | June 29
|
| Settlement date: | July 5
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 3.1% total, including 1.55% for selling concessions
|
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