New Issue: JPMorgan prices $152,000 return enhanced notes linked to index basket

By E. Janene Geiss

Philadelphia, June 28 - JPMorgan Chase & Co. priced a $152,000 issue of 0% buffered return enhanced notes due June 30, 2010 linked to an index basket, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes equal weights (33.3333%) of the S&P 500, Nikkei 225 and Dow Jones Euro Stoxx 50.

The payout at maturity will be par plus 1.3 times any positive return on the index. Investors will receive par if the index declines by 10% or less. Investors will lose 1% for each 1% that the index drops beyond 10%.

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

Issuer:	JPMorgan Chase & Co.
Issue:	Buffered return enhanced notes
Underlying index:	S&P 500, Nikkei 225, Dow Jones Euro Stoxx 50, all with 33.3333% weight
Amount:	$152,000
Maturity:	June 30, 2010
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.3 times any index gain; par if the index gains 10% or less; share in losses at 1% per 1% drop beyond 10%
Pricing date:	June 26
Settlement date:	June 29
Agent:	J.P. Morgan Securities Inc.
Fees:	3.61%, including 2% for selling concessions

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