New Issue: JPMorgan prices $4.83 million buffered return enhanced notes linked to Euro Stoxx 50

By Angela McDaniels

Tacoma, Wash., Jan. 15 - JPMorgan Chase & Co. priced $4.83 million of 0% buffered return enhanced notes due Jan. 23, 2009 linked to the Dow Jones Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any positive index return, subject to a maximum payout equal to 115.1% of par. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for each 1% decline beyond 10%.

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

Issuer:	JPMorgan Chase & Co.
Issue:	Buffered return enhanced notes
Underlying index:	Dow Jones Euro Stoxx 50
Amount:	$4,825,000
Maturity:	Jan. 23, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any index gain, capped at maximum return of 15.1%; par if index falls by 10% or less; 1.1111% loss for each 1% decline beyond 10%
Initial index level:	4,225.31
Final index level:	Average of closing levels on Jan. 14, Jan. 15, Jan. 16, Jan. 19 and Jan. 20 of 2009
Pricing date:	Jan. 11
Settlement date:	Jan. 16
Agent:	J.P. Morgan Securities Inc.
Fees:	1.27%, including 0.635% for selling concessions

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