Published on 5/20/2008 in the Prospect News Structured Products Daily.
New Issue: JPMorgan Chase sells $41.94 million return enhanced notes linked to 11 stocks
By Susanna Moon
Chicago, May 20 - JPMorgan Chase & Co. priced $41.94 million of 0% return enhanced notes due May 20, 2010 linked to an equally weighted basket of 11 common stocks, according to an FWP filing with the Securities and Exchange Commission.
The underlying stocks are 3M Co., AGCO Corp., Cemex, SAB de CV, Corning Inc. (American Depositary Shares), Deere & Co., Dover Corp., Illinois Tool Works Inc., Siemens AG (ADS), Textron Inc., Tyco International Ltd. and United Technologies Corp.
The payout at maturity will be par plus triple any gain on the basket, up to a maximum return of 28.35%.
Investors will be fully exposed to any decline.
The final basket level will be the arithmetic average of the basket's closing levels on the five consecutive trading days ending May 17, 2010.
J.P. Morgan Securities Inc. is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Return enhanced notes
|
| Underlying stocks: | 3M Co. (NYSE: MMM), AGCO Corp. (NYSE: AG), Cemex, SAB de CV (NYSE: CX), Corning Inc. (NYSE: GLW), Deere & Co. (NYSE: DE), Dover Corp. (NYSE: DOV), Illinois Tool Works Inc. (NYSE: ITW), Siemens AG (NYSE: SI), Textron Inc. (NYSE: TXT), Tyco International Ltd. (NYSE: TYC) and United Technologies Corp. (NYSE: UTX)
|
| Amount: | $41,936,000
|
| Maturity: | May 20, 2010
|
| Price: | Par
|
| Payout at maturity: | Par plus triple any basket gain, capped at 28.35% maximum return; exposure to any losses
|
| Initial share prices: | $77.86 for 3M Co., $59.09 for AGCO, for $29.57 Cemex, $27.05 for Corning Inc., $83.61 for Deere, $54.18 for Dover, $54.99 for Illinois Tool Works, $116.92 for Siemens AG, $64.24 for Textron, $45.93 for Tyco and $74.29 for United Technologies
|
| Pricing date: | May 15
|
| Settlement date: | May 20
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 2.2%, including 1.1% for selling concessions
|
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