By Angela McDaniels
Tacoma, Wash., March 5 - JPMorgan Chase & Co. priced $5.08 million of 0% buffered return enhanced notes due Sept. 9, 2009 linked to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.
If the final price of gold is greater than the strike level, then the payout at maturity will be par plus 1.5 times the gain, subject to a maximum return of 18.5%. Investors will receive par if gold declines by 10% or less from the strike level and will lose 1% for every 1% that it declines beyond 10%.
The strike level was set at $914.00 on the pricing date and is higher than the price of gold on that date, which was $913.75.
J.P. Morgan Securities Inc. is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Buffered return enhanced notes
|
| Underlying commodity: | Gold
|
| Amount: | $5,075,000
|
| Maturity: | Sept. 9, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times any increase in the price of gold over the strike level, capped at 18.5%; par if gold falls by 10% or less from the strike level; 1% loss for every 1% decline beyond 10%
|
| Strike level: | $914.00
|
| Pricing date: | March 3
|
| Settlement date: | March 6
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 0.7192%
|
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