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JPMorgan plans buffered return enhanced notes linked to S&P 500 for Merrill
By Jennifer Chiou
New York, Jan. 12 - JPMorgan Securities Inc. plans to arrange 0% buffered return enhanced notes due June 24, 2008 linked to the S&P 500 index for Merrill Lynch & Co., Inc., according to an FWP filing with the Securities and Exchange Commission.
J.P. Morgan Securities is the placement agent.
The payout at maturity will be par plus twice any positive return on the index up to a maximum of 14.4%.
If the ending index level declines by no more than 10%, the payout at maturity will be par. Holders will lose 1.1111% for each 1% the index declines beyond 10%.
The notes will price on Jan. 19 and settle on Jan. 24.
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