JPMorgan plans issue of annual review notes linked to Nikkei 225

By Jennifer Chiou

New York, June 16 - JPMorgan Chase & Co. plans to price an issue of 0% annual review notes due July 8, 2009 linked to the Nikkei 225 index, according to an FWP filing with the Securities and Exchange Commission.

The pricing date is expected to be on or about June 23, with settlement on June 28.

The notes will be automatically called at increasing premiums if the index shows a positive return on the annual review dates. For each $1,000 principal amount, the redemption amount will be at least 12.4% if called on July 2, 2007, at least 24.8% if called on July 2, 2008 and at least 37.2% if called on July 2, 2009. The exact redemption amounts will be determined at pricing.

If the notes are not called, investors will receive par unless the index declines by more than 10%. Investors will lose 1.1111% of the principal amount for every 1% decline in the index beyond 10%.

J.P. Morgan Securities Inc. will be agent for the offering.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.