Published on 5/28/2008 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.15 million buffered return enhanced notes linked to five Asian indexes
By Angela McDaniels
Tacoma, Wash., May 28 - JPMorgan Chase & Co. priced $3.15 million of 0% buffered return enhanced notes due June 11, 2009 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the FTSE/Xinhua China 25 index with a 28% weight, the Korea Stock Price Index 200 with a 26.5% weight, the MSCI Taiwan index with a 21% weight, the Amex Hong Kong 30 index with a 16.5% weight and the MSCI Singapore index with an 8% weight.
The payout at maturity will be par plus double any basket gain, capped at a maximum return of 19.5%. Investors will receive par if the basket declines by 10% or less and will lose 1.1111% for each 1% decline beyond 10%.
J.P. Morgan Securities Inc. is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Buffered return enhanced notes
|
| Underlying indexes: | FTSE/Xinhua China 25 (28% weight), Korea Stock Price Index 200 (26.5% weight), MSCI Taiwan (21% weight), Amex Hong Kong 30 (16.5% weight) and MSCI Singapore (8% weight)
|
| Amount: | $3,151,000
|
| Maturity: | June 11, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any basket gain, capped at maximum return of 19.5%; par if basket falls by 10% or less; 1.1111% loss for each 1% decline beyond 10%
|
| Initial index levels: | For Amex Hong Kong 30, 1,280.76; for FTSE/Xinhua China 25, 22,460.46; for Kospi 200, 234.14; for MSCI Singapore, 383.46; for MSCI Taiwan, 337.7
|
| Final index levels: | For each index, the average of its closing levels on June 2, June 3, June 4, June 5 and June 8 of 2009
|
| Pricing date: | May 23
|
| Settlement date: | May 29
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 1.5%, including 0.75% for selling concessions
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