New Issue: JPMorgan prices $5.46 million buffered return enhanced notes linked to index basket

By Jennifer Chiou

New York, Aug. 3 - JPMorgan Chase & Co. priced a $5.46 million issue of 0% buffered return enhanced notes due Aug. 13, 2008 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes the Amex Hong Kong with a 16.5% weight, the FTSE/Xinhua with a 22% weight, the Kospi 200 with a 29.65% weight, the MSCI Singapore with a 10.1% and the MSCI Taiwan with a 21.75% weight.

The payout at maturity will be par plus double any positive return on the basket, capped at 18.1%. Investors will lose 1.1111% for each 1% that the index drops beyond 10%.

JPMorgan Securities Inc. is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Buffered return enhanced notes
Underlying basket:	Amex Hong Kong (16.5% weight), FTSE/Xinhua (22% weight), Kospi 200 (29.65% weight), MSCI Singapore (10.1% weight), MSCI Taiwan (21.75% weight)
Amount:	$5.46 million
Maturity:	Aug. 13, 2008
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus double any basket gain, capped at 18.1%; par if basket loses 10% or less; share in losses at 1.1111% per 1% drop beyond 10%
Pricing date:	Aug. 1
Settlement date:	Aug. 6
Agent:	J.P. Morgan Securities Inc.
Fees:	0.65%, including 0.325% for selling concessions

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