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JPMorgan plans buffered return enhanced notes on currencies vs. euro
By Susanna Moon
Chicago, April 19 - JPMorgan Chase & Co. plans to price 0% buffered return enhanced notes due April 2013 based on the performance of a basket of equally weighted currencies relative to the euro, according to an FWP filing with the Securities and Exchange Commission.
The underlying currencies are the Australian dollar, the Brazilian real and the Chinese renminbi.
The payout at maturity will be par plus at least 1.25 times any basket gain, with the exact participation rate to be set at pricing.
Investors will receive par if the basket falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
The notes are expected to price and settle in April.
JPMorgan Securities Inc. is the agent.
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