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JPMorgan plans dual directional knock-out notes linked to S&P 500, Russell 2000
By Laura Lutz
Des Moines, April 1 - JPMorgan Chase & Co. plans to price zero-coupon principal protected dual directional knock-out notes due Aug. 31, 2009 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If either index closes above or below its initial level by more than 22% during the life of the notes, the payout will be par.
Otherwise, the payout will be a fixed amount that is expected to be at least 140% of par. The exact fixed amount will be set at pricing.
The notes are expected to price on April 25 and settle on April 30.
J.P. Morgan Securities Inc. is the underwriter.
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