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JPMorgan plans buffered return enhanced notes due 2013 tied to S&P 500
By Susanna Moon
Chicago, Nov. 1 - JPMorgan Chase & Co. plans to price 0% buffered return enhanced notes due May 31, 2013 based on the performance of the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of 18% to 22%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% decline beyond 10%.
The notes (Cusip 48124AV79) will price on Nov. 23 and settle on Nov. 30.
J.P. Morgan Securities LLC is the agent.
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