New York, Feb. 27 - JPMorgan Chase & Co. priced a $3.125 million issue of 0% call overwrite index notes due March 5, 2008 linked to the BXM index, according to a 424B2 filing with the Securities and Exchange Commission.
Payment at maturity will be determined according to the index performance minus an annual issuer's fee of 1.5%, which accrues daily over the term of the notes.
Investors will be fully exposed to any decline in the index and will only earn a return if the index increases by more than 1.5287%.
JPMorgan Securities Inc. will be the agent for the offering.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Call overwrite index notes
|
| Underlying index: | CBOE S&P 500 BuyWrite Index (the BXM index)
|
| Amount: | $3.125 million
|
| Maturity: | March 5, 2008
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Index performance minus annual fee of 1.5% accruing daily
|
| Initial index level: | 824.23
|
| Pricing date: | Feb. 23
|
| Settlement date: | Feb. 28
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 1.529% total, including 0.561% for selling concessions
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