Published on 2/25/2011 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.15 million buffered return enhanced notes linked to Russell 2000
New York, Feb. 25 - JPMorgan Chase & Co. priced $2.155 million of 0% buffered return enhanced notes due Aug. 31, 2012 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any index gain, up to a maximum return of 19%. Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
JPMorgan Securities Inc. is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Buffered return enhanced notes
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Underlying stock: | Russell 2000
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Amount: | $2.155 million
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Maturity: | Aug. 31, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any index gain, capped at 19%; par if index declines by 10% or less; 1% loss for every 1% decline beyond 10%
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Initial price: | 799.65
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Pricing date: | Feb. 23
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Settlement date: | Feb. 28
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Agent: | JPMorgan Securities Inc.
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Fees: | 1.86%, including 0.2% for selling concessions
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Cusip: | 48125XCY0
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