By Susanna Moon
Chicago, Aug. 10 - JPMorgan Chase & Co. priced $2.09 million of 0% buffered return enhanced notes due Feb. 10, 2011 based on the SPDR KBW Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any fund gain, up to a maximum of $1,125.25 for every $1,000 principal amount.
Investors will receive par if the fund share price falls by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.
J.P. Morgan Securities Inc. is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Buffered return enhanced notes
|
| Underlying fund: | SPDR KBW Bank exchange-traded fund
|
| Amount: | $2,085,000
|
| Maturity: | Feb. 10, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any fund gain, capped at 12.525%; 1.1111% loss per 1% drop beyond 10%
|
| Initial price: | $24.07
|
| Pricing date: | Aug. 6
|
| Settlement date: | Aug. 11
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 0.5%
|
| Cusip: | 48124AYE1
|
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