New Issue: JPMorgan prices $0.389 million principal-protected notes linked to currency basket

By Jennifer Chiou

New York, May 29 - JPMorgan Chase & Co. priced a $0.389 million issue of 0% principal-protected notes due Nov. 28, 2008 linked to a basket of four currencies, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes equal weights of the spot rates against the U.S. dollar of the Australian dollar, the Canadian dollar, the euro and the Japanese yen.

The payout at maturity will be par plus 145% of any positive return on the basket. Investors will receive at least par.

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

Issuer:	JPMorgan Chase & Co.
Issue:	Principal-protected notes
Underlying currencies:	Australian dollar, Canadian dollar, euro, Japanese yen, all against the dollar and equally weighted
Amount:	$0.389 million
Maturity:	Nov. 28, 2008
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 145% of any basket gain; floor of par
Pricing date:	May 24
Settlement date:	May 30
Agent:	J.P. Morgan Securities Inc.
Fees:	2.7%, including 0.5% for selling concessions

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