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JPMorgan to price bearish return enhanced notes linked to Baidu.com
By Jennifer Chiou
New York, Oct. 31 - JPMorgan Chase & Co. plans to price bearish return enhanced notes due Jan. 4, 2008 linked inversely to the American Depositary Shares representing the class A stock of Baidu.com, Inc., according to an FWP filing with the Securities and Exchange Commission.
If the final price of Baidu.com stock falls from the initial share price, investors will receive four times the absolute value of the loss, capped at 22.9%.
If the final share price is greater than the initial price, investors will share in losses according to the gain.
The notes will price on Nov. 2 and settle on Nov. 7.
J.P. Morgan Securities Inc. will be the agent.
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