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JPMorgan to price buffered return enhanced notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., April 20 - JPMorgan Chase & Co. plans to price 0% buffered return enhanced notes due May 12, 2011 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, subject to a maximum return of at least 10.7% that will be set at pricing. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
The notes are expected to price April 23 and settle April 28.
J.P. Morgan Securities Inc. is the agent.
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