By Angela McDaniels
Seattle, Feb. 13 - JPMorgan Chase & Co. priced a $7.92 million offering of 0% buffered return enhanced notes due Feb. 21, 2008 linked to the Nikkei 225 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any gain on the index, subject to a maximum total return of 19.5%.
If the final index level declines by 10% or less, the payout will be par. Investors will lose 1.1111% for each 1% decline beyond 10%.
The final index level will be the average of the index's closing levels on Feb. 12, Feb. 13, Feb. 14, Feb. 15 and Feb. 18 of 2008.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Buffered return enhanced senior notes
|
| Underlying index: | Nikkei 225
|
| Amount: | $7.92 million
|
| Maturity: | Feb. 21, 2008
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any index gain, capped at 19.5%; par if index falls by 10% or less; 1.1111% loss for each 1% decline beyond 10%
|
| Initial index level: | 17,504.33
|
| Pricing date: | Feb. 9
|
| Settlement date: | Feb. 14
|
| Agent: | J.P. Morgan Securities Inc.
|
| Agent fees: | 1.41%, including 0.705% for selling concessions
|
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