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JPMorgan to price return enhanced notes linked to Russell 2000
By E. Janene Geiss
Philadelphia, Dec. 12 - JPMorgan Chase & Co. plans to price 0% return enhanced notes due Jan. 7, 2009 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus at least triple any index gain, capped at a maximum return that will be at least 25.8%. The exact terms will be set at pricing.
Investors will be fully exposed to any decline in the index.
The closing index level will be the average of the index's closing levels on Dec. 26, Dec. 29, Dec. 30 and Dec. 31 of 2008 and Jan. 2 of 2009.
The notes are expected to price Dec. 14 and settle Dec. 19.
J.P. Morgan Securities Inc. will be the agent.
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