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JPMorgan to price buffered return enhanced notes linked to S&P 500
By Susanna Moon
Chicago, Oct. 14 - JPMorgan Chase & Co. plans to price 0% buffered return enhanced notes due Nov. 3, 2009 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
Payout at maturity will be par plus double any gain on the index, up to a maximum return of at least 16.8%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for each 1% drop beyond 10%.
The notes are expected to price Oct. 16 and settle Oct. 21.
J.P. Morgan Securities Inc. will be the agent.
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