By Angela McDaniels
Tacoma, Wash., July 24 - JPMorgan Chase & Co. priced $2.5 million of 0% bearish buffered return enhanced notes due July 28, 2011 linked to a basket of currencies, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the Japanese yen, British pound sterling, euro and Swiss franc, equally weighted.
If the basket weakens relative to the dollar, the payout at maturity will be par plus 2% for every 1% depreciation. If the basket strengthens relative to the dollar by 20% or less, the payout will be par. Investors will lose 1% for every 1% appreciation of the basket beyond 20%.
J.P. Morgan Securities Inc. is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Bearish buffered return enhanced notes
|
| Underlying currencies: | Japanese yen, British pound sterling, euro and Swiss franc
|
| Amount: | $2.5 million
|
| Maturity: | July 28, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 2% for every 1% that the basket depreciates relative to the dollar; par if basket appreciates by 20% or less; 1% loss for every 1% appreciation beyond 20%
|
| Pricing date: | July 22
|
| Settlement date: | July 25
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 5%, including 2.5% 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.
