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JPMorgan plans to price review notes with buffer linked to S&P 500
By Marisa Wong
Madison, Wis., Jan. 18 - JPMorgan Chase & Co. plans to price 0% review notes due Feb. 6, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized 12% premium if the index closes at or above the initial level on any of four quarterly review dates beginning on May 1.
If the notes are not called and the index falls by up to 10%, the payout at maturity will be par. Otherwise, investors will lose 1.1111% for every 1% decline beyond 10%.
J.P. Morgan Securities LLC is the agent.
The notes (Cusip: 48125VJY7) will price on Jan. 20 and settle on Jan. 25.
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