By Angela McDaniels
Tacoma, Wash., Dec. 22 - JPMorgan Chase & Co. priced $3.02 million of 0% market plus notes due June 23, 2010 linked to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.
If the price of gold has declined from the strike level by 10% or more on any day during the life of the notes, the payout at maturity will be par plus the gold return. Otherwise, the payout will be par plus the greater of the gold return and 5%.
In both cases, the payout will be subject to a maximum return of 14.5%.
The strike level - $1,101.50 - was set by the calculation agent and is lower than the regular official weekday closing price of gold on the pricing date, which was $1,104.50.
J.P. Morgan Securities Inc. is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Market plus notes
|
| Underlying commodity: | Gold
|
| Amount: | $3,019,000
|
| Maturity: | June 23, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If gold declines from the strike level by 10% or more during the life of the notes, par plus the gold return; otherwise, par plus the greater of the gold return and 5%; return capped at 14.5% in either case
|
| Strike level: | $1,101.50
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 23
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 1%
|
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