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JPMorgan to price return enhanced notes linked to S&P 500
By E. Janene Geiss
Philadelphia, Jan. 13 - JPMorgan Chase & Co. plans to price 0% return enhanced notes due Feb. 3, 2010 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
Payout at maturity will be par plus triple any gain on the index, up to a maximum return of 30.45%. The exact cap will be set at pricing.
Investors will be fully exposed to any index decline.
The final index level will be the arithmetic average of the index's closing levels on the five consecutive trading days ending Jan. 29, 2010.
The notes are expected to price Jan. 16 and settle Jan. 22.
J.P. Morgan Securities Inc. will be the agent.
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