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JPMorgan plans autocallable return enhanced notes linked to S&P 500
By Susanna Moon
Chicago, Jan. 25 - JPMorgan Chase & Co. plans to price 0% autocallable return enhanced notes due Feb. 15, 2012 based on the performance of the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called if the index closes at or above 104.25% of its initial level on April 28, July 21 or Oct. 21. Investors will receive par plus a call premium of at least 8.5%.
The payout at maturity will be par plus double any index gain, up to a maximum return of at least 8.5%. Investors will be exposed to any index decline.
The notes (Cusip 48125XCE4) are expected to price on Jan. 28 and settle on Feb. 2.
The exact deal terms will be set at pricing.
J.P. Morgan Securities LLC is the agent.
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