Published on 9/23/2008 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.33 million buffered return enhanced notes linked to five Asian indexes
By Angela McDaniels
Tacoma, Wash., Sept. 23 - JPMorgan Chase & Co. priced $5.33 million of 0% buffered return enhanced notes due Oct. 8, 2009 linked to a basket of Asian indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the FTSE/Xinhua China 25 with a 28% weight, Korea Stock Price 200 with 26.5% weight, MSCI Taiwan with a 21% weight, Amex Hong Kong 30 with a 16.5% weight and MSCI Singapore with an 8% weight.
The payout at maturity will be par plus double any basket gain, subject to a maximum return of 22.64%. Investors will receive par if the basket declines by 10% or less and will lose 1.1111% for every 1% that the basket declines 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 200 (26.5% weight), MSCI Taiwan (21% weight), Amex Hong Kong 30 (16.5% weight) and MSCI Singapore (8% weight)
|
| Amount: | $5,325,000
|
| Maturity: | Oct. 8, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any basket gain, capped at maximum return of 22.64%; par if basket falls by 10% or less; 1.1111% loss for every 1% decline beyond 10%
|
| Initial index levels: | 991.06 for Amex Hong Kong; 16,209.6 for FTSE/Xinhua China; 188.31 for Kospi; 317.15 for MSCI Singapore; 235.23 for MSCI Taiwan
|
| Final index levels: | For each index, the average of its closing levels on Sept. 25, Sept. 28, Sept. 29, Sept. 30 and Oct. 5 of 2009
|
| Pricing date: | Sept. 19
|
| Settlement date: | Sept. 24
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 1.25%, including 0.625% for selling concessions
|
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