By Angela McDaniels
Tacoma, Wash., July 15 - JPMorgan Chase & Co. priced $1 million of 0% single review notes due Aug. 19, 2010 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the initial index level on Aug. 16, 2010, then the notes will be called and investors will receive par plus 8%.
If the notes are not called, the payout at maturity will be par if the final index level is at least 70% of the initial level. Otherwise, investors will lose 1% for every 1% that the index declines beyond 30%.
J.P. Morgan Securities Inc. is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Single review notes
|
| Underlying index: | Russell 2000
|
| Amount: | $1 million
|
| Maturity: | Aug. 19, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par if index has not declined by more than 30%; 1% loss for every 1% decline beyond 30%
|
| Call: | Automatically at par plus 8% if index closes at or above initial level on Aug. 16, 2010
|
| Initial index level: | 496.52
|
| Pricing date: | July 14
|
| Settlement date: | July 17
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 1.05%, including 0.1% for selling concessions
|
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