New Issue: JPMorgan prices $30,000 buffered return enhanced notes linked to index basket

By Laura Lutz

Des Moines, April 27 - JPMorgan Chase & Co. priced a $30,000 issue of 0% buffered return enhanced notes due April 30, 2010 linked to a basket of three indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes equal weights of the S&P 500 index, the Nikkei 225 index and the Dow Jones Euro Stoxx 50 index.

The payout at maturity will be par plus 145% of any positive return on the basket. Investors will lose 1% for each 1% that the index drops beyond 10%.

JPMorgan Securities Inc. will be the agent for the offering.

Issuer:	JPMorgan Chase & Co.
Issue:	Buffered return enhanced senior unsecured notes
Underlying indexes:	S&P 500 index, Nikkei 225 index, Dow Jones Euro Stoxx 50 index
Amount:	$30,000
Maturity:	April 30, 2010
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 145% of any index gain; par if the basket loses up to 10%; share in losses at 1% per 1% drop beyond 10%
Initial index level:	173.482
Pricing date:	April 25
Settlement date:	April 30
Agent:	J.P. Morgan Securities Inc.
Fees:	1.9%, including 0.5% for selling concessions

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