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JPMorgan plans dual directional buffered return enhanced notes linked to S&P 500
By Susanna Moon
Chicago, Oct. 2 - JPMorgan Chase & Co. plans to price 0% dual directional buffered return enhanced notes due Oct. 22, 2009 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par plus double any index gain, up to a maximum return of at least 12.4%. If the index declines by up to 10%, the payout will be par plus the absolute value of the index return. Investors will lose 1.1111% for each 1% decline beyond 10%.
The notes are expected to price on Oct. 3 and settle on Oct. 8.
J.P. Morgan Securities Inc. is the agent.
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