Published on 12/29/2006 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $36,000 0% notes inversely linked to PHLX Housing
By Angela McDaniels
Seattle, Dec. 28 - JPMorgan Chase & Co. priced a $36,000 issue of 0% bearish principal-protected notes due June 29, 2012 inversely linked to the PHLX Housing Sector index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 115% of the absolute value of any decline in the index. Investors will receive at least par.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Bearish principal-protected senior notes
|
| Underlying index: | PHLX Housing Sector index
|
| Amount: | $36,000
|
| Maturity: | June 29, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.15% for each 1% decline in the index; floor of par
|
| Initial index level: | 230.82
|
| Pricing date: | Dec. 22
|
| Settlement date: | Dec. 29
|
| Agent: | J.P. Morgan Securities Inc.
|
| Agent fees: | 3.24%, includes 0.5% selling concession
|
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