JPMorgan plans issue of principal-protected dual directional notes linked to 3 commodities, 3 indexes

By E. Janene Geiss

Philadelphia, Oct. 16 - JPMorgan Chase & Co. plans to price 0% principal-protected dual directional notes due Oct. 29, 2010 linked to a basket of three indexes, according to an FWP filing with the Securities and Exchange Commission.

The basket consists of WTI crude oil with a 35% weight, primary aluminum with a 15% weight, copper - grade A with a 15% weight, the S&P GSCI Precious Metals Index Excess Return with a 15% weight, S&P GSCI Agriculture Index Excess Return with a 10% weight and the S&P GSCI Livestock Index Excess Return with a 10% weight.

Payout at maturity will be par plus any gain on the basket times an upside participation rate that will be at least 110%. If the basket declines, the payout will equal the absolute value of the decline times a downside participation rate of at least 30%.

The exact participation rates will be determined at pricing. Investors will receive at least par.

The notes are expected to price Oct. 26 and settle Oct. 31.

J.P. Morgan Securities Inc. will be the agent.

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