Published on 4/11/2008 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.2 million 0% buffered return enhanced notes linked to S&P 500
By Susanna Moon
Chicago, April 11 - JPMorgan Chase & Co. priced $4.2 million of 0% buffered return enhanced notes due Dec. 6, 2010 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par plus double the index return, capped at 38.7%. Investors will receive par for losses up to 10% and will share in losses beyond 10%.
J.P. Morgan Securities Inc. is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Buffered return enhanced notes
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Underlying index: | S&P 500
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Amount: | $4.2 million
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Maturity: | Dec. 6, 2010
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus double the index return, capped at 38.7%; investors will receive par for losses up to 10% and will share in losses beyond 10%
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Initial index level: | 1,354.49
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Pricing date: | April 9
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Settlement date: | April 14
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Agent: | J.P. Morgan Securities Inc.
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Fees: | 3%, including 1.5% for selling concessions
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