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JPMorgan plans knock-out buffered return enhanced notes tied to S&P 500
By Angela McDaniels
Tacoma, Wash., July 23 - JPMorgan Chase & Co. plans to price 0% knock-out buffered return enhanced notes due Aug. 1, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.3 times the index return if it is positive, subject to a maximum return of 45.8%.
If the index return is between zero and negative 50%, the payout will be par.
If the index return is less than negative 50%, the payout will be par plus the return.
The notes (Cusip: 48124AXK8) are expected to price July 28 and settle Aug. 2.
J.P. Morgan Securities Inc. is the agent.
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