JPMorgan plans buffered return enhanced notes linked to three indexes

By Laura Lutz

Des Moines, June 4 - JPMorgan Chase & Co. plans to price an issue of 0% buffered return enhanced notes due June 30, 2010 linked to a basket of three indexes, according to an FWP filing with the Securities and Exchange Commission.

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

The notes will price on June 26 and settle on June 29.

Payout at maturity will be par plus any gain on the basket times an upside leverage factor that will be at least 130%. The exact leverage factor will be set at pricing.

If the basket declines by less than 10%, the payout will be par. Investors will lose 1% for every 1% that the basket declines beyond 10%.

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

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