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JPMorgan plans capped market plus notes linked to S&P GSCI Crude Oil
By Jennifer Chiou
New York, Nov. 9 - JPMorgan Chase & Co. plans to price 0% capped market plus notes due Nov. 28, 2011 linked to the S&P GSCI Crude Oil Index Excess Return, according to an FWP filing with the Securities and Exchange Commission.
If the index falls to or below 75% of the strike level on any day during the life of the notes, the payout at maturity will be par plus the index return, which could be positive or negative. Otherwise, the payout will be par plus the greater of the index return and 3%.
In each case, the payout will be subject to a maximum return of at least 14% that will be set at pricing.
The strike level will be set at pricing and may or may not be the regular official weekday closing level of the index on that date.
The notes (Cusip: 48124AZ83) are expected to price on Nov. 12 and settle on Nov. 17.
J.P. Morgan Securities LLC is the agent.
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