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JPMorgan plans buffered return enhanced notes tied to S&P MidCap 400
By Susanna Moon
Chicago, Dec. 29 - JPMorgan Chase & Co. plans to price 0% buffered return enhanced notes due July 23, 2012 based on the S&P MidCap 400 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of 9% to 13.5%. The exact rate will be set at pricing.
Investors will receive par if the index falls by up to 15% and will lose 1% for each 1% decline beyond 15%.
The notes (Cusip: 48124A6J1) will price on Jan. 18 and settle on Jan. 21.
J.P. Morgan Securities LLC is the agent.
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