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JPMorgan to price buffered return enhanced notes linked to S&P 500
By Susanna Moon
Chicago, Jan. 2 - JPMorgan Chase & Co. plans to price 0% buffered return enhanced notes due March 3, 2010 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 quadruple any index gain, up to a maximum return of 20% to 22%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up 10% and will lose 1.1111% for every 1% decline beyond 10%.
The notes are expected to price on Jan. 27 and settle on Jan. 30.
J.P. Morgan Securities Inc. is the agent.
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