By Angela McDaniels
Tacoma, Wash., Oct. 19 - JPMorgan Chase & Co. priced $5.44 million of 0% market plus notes due April 20, 2010 linked to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.
If the price of gold has declined from the initial price by 13% or more on any day during the life of the notes, the payout at maturity will be par plus the gold return. Otherwise, the payout will be par plus the greater of the gold return and 5%.
In both cases, the payout will be subject to a maximum return of 13%.
The initial price was set at $1,053.75 by the calculation agent and is not equal to the regular official weekday closing price of gold on the pricing date, which was $1,053.50.
J.P. Morgan Securities Inc. is the agent.
Issuer: | JPMorgan Chase & Co.
|
Issue: | Market plus notes
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Underlying commodity: | Gold
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Amount: | $5,435,000
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Maturity: | April 20, 2010
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If price of gold falls by 13% or more during life of notes, par plus gold return; otherwise, par plus greater of gold return and 5%; return capped at 13% in either case
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Initial price: | $1,053.75
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Pricing date: | Oct. 15
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Settlement date: | Oct. 20
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Agent: | J.P. Morgan Securities Inc.
|
Fees: | 1%
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