By Jennifer Chiou
New York, Feb. 21 - JPMorgan Chase & Co. priced a $5 million issue of range accrual notes due March 3, 2018 linked to six-month Libor, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is reset and payable quarterly.
Interest will equal 7.25%% per year multiplied by the proportion of days on which six-month Libor is less than or equal to 7%.
The notes are callable on any interest payment date beginning June 3, 2008 at par plus accrued interest.
J.P. Morgan Securities Inc. is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Range accrual notes
|
| Amount: | $5 million
|
| Maturity: | March 3, 2018
|
| Coupon: | 7.25% per year times the proportion of days on which six-month Libor is less than or equal to 7%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus accrued interest
|
| Call: | At par plus accrued interest on any interest payment date beginning June 3, 2008
|
| Pricing date: | Feb. 19
|
| Settlement date: | March 3
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 1.22%, including 0.85% for selling concessions
|
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