Published on 12/29/2010 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.62 million buffered return enhanced notes on iShares MSCI EAFE fund
By Jennifer Chiou
New York, Dec. 27 - JPMorgan Chase & Co. priced $2.62 million of 0% buffered return enhanced notes due June 29, 2012 linked to the iShares MSCI EAFE index fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any fund gain, up to a maximum return of 16%.
Investors will receive par if the shares fall by up to 10% and will lose 1% for every 1% decline beyond 10%.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Buffered return enhanced notes
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Underlying fund: | iShares MSCI EAFE index fund
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Amount: | $2,618,000
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Maturity: | June 29, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any fund gain, capped at 16%; 1% loss for every 1% drop beyond 10%
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Initial price: | $57.75
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Pricing date: | Dec. 22
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Settlement date: | Dec. 28
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.817%, including 0.2% for selling concessions
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Cusip: | 48124A3X3
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