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JPMorgan plans 0% buffered return enhanced notes linked to S&P 500
By Laura Lutz
Des Moines, March 3 - JPMorgan Chase & Co. plans to price 0% buffered return enhanced notes due Sept. 30, 2009 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the final index level is at least the initial level, the payout at maturity will be par plus 150% of any index gain in the index, capped at a payout equal to 115.25% of par.
If the index declines by up to 15%, the payout will be par. Investors will lose 1% for each 1% that the index declines beyond 15%.
The notes are expected to price March 26 and settle March 31.
J.P. Morgan Securities Inc. will be the agent.
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