New Issue: JPMorgan prices $6.4 million 0% buffered return enhanced notes linked to Euro Stoxx 50

By E. Janene Geiss

Philadelphia, Feb. 27 - JPMorgan Chase & Co. priced a $6.4 million issue of 0% buffered return enhanced notes due March 5, 2008 linked to the Dow Jones Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any positive return on the index up to a maximum return of 15%. Investors will share in any losses beyond 10% at a rate of 1.1111% per 1% drop below 10%.

J.P. Morgan Securities Inc. is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Buffered return enhanced senior unsecured notes
Underlying index:	Dow Jones Euro Stoxx 50
Amount:	$6.4 million
Maturity:	March 5, 2008
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus double any index gain, capped at 15%; par if the index loses up to 10%; share in losses at 1.1111% per 1% drop beyond 10%
Initial index level:	4,245.99
Pricing date:	Feb. 23
Settlement date:	Feb. 28
Agent:	J.P. Morgan Securities Inc.
Fees:	1.29%, including 0.645% for selling concessions

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