By Angela McDaniels
Tacoma, Wash., March 23 - JPMorgan Chase & Co. priced $473,000 of 0% market plus notes due March 31, 2011 linked to the S&P GSCI Excess Return index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index level has declined from the initial level by 20% or more on any day during the life of the notes, the payout at maturity will be par plus the index return, which could be positive or negative. Otherwise, the payout will be par plus the greater of the index return and 5%.
In each case, the payout will be subject to a maximum return of 13.75%.
J.P. Morgan Securities Inc. is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Market plus notes
|
| Underlying index: | S&P GSCI Excess Return
|
| Amount: | $473,000
|
| Maturity: | March 31, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index declines from initial level by 20% or more during life of notes, par plus index return; otherwise, par plus greater of index return and 5%; return capped at 13.75% in each case
|
| Initial level: | 429.7531
|
| Pricing date: | March 19
|
| Settlement date: | March 24
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 1%
|
| Cusip: | 48124AKN6
|
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