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JPMorgan to price 0% buffered return enhanced notes linked to S&P 500
By Angela McDaniels
Seattle, Oct. 6 - JPMorgan Chase & Co. plans to price an issue of 0% buffered return enhanced notes due March 27, 2008 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The pricing date is expected to be on or about Oct. 13 with settlement on Oct. 18.
The payout at maturity will be par plus twice any positive return on the index up to a maximum return, which will be determined at pricing and will be at least 13.2%.
If the ending index level declines by 10% or less, payout at maturity will be par. Holders will lose 1.1111% for each 1% the index declines beyond 10%.
J.P. Morgan Securities Inc. will be agent for the offering.
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