Published on 5/11/2009 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.73 million buffered return enhanced notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., May 11 - JPMorgan Chase & Co. priced $2.73 million of 0% buffered return enhanced notes due Dec. 14, 2009 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, subject to a maximum return of 7.2%. Investors will par if the index declines by 20% or less and will lose 1.25% for every 1% that the index declines beyond 20%.
J.P. Morgan Securities Inc. is the agent.
Issuer: | JPMorgan Chase & Co.
|
Issue: | Buffered return enhanced notes
|
Underlying index: | S&P 500
|
Amount: | $2,727,000
|
Maturity: | Dec. 14, 2009
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus double any index gain, up to maximum return of 7.2%; par if index falls by 20% or less; 1.25% loss for every 1% index decline beyond 20%
|
Initial index level: | 907.39
|
Pricing date: | May 7
|
Settlement date: | May 14
|
Agent: | J.P. Morgan Securities Inc.
|
Fees: | 1.1%, including 0.1% for selling concessions
|
© 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.