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JP Morgan to price buffered return enhanced notes linked to S&P 500
By Susanna Moon
Chicago, Aug. 10 - JPMorgan Chase & Co. plans to price an issue of buffered return enhanced notes Sept. 24, 2008 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the S&P 500 gains, the payout at maturity will be par plus double any index gain up to a maximum total return of 14.9%.
If the index declines up to 10%, the payout will be par. Beyond a 10% loss, investors will lose 1.1111% for every 1% drop in the S&P 500.
The notes will price on Aug. 17 and settle on Aug. 22.
J.P. Morgan Securities Inc. is the agent.
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