JPMorgan plans principal-protected notes linked to currency basket

By Laura Lutz

Des Moines, Feb. 15 - JPMorgan Chase & Co. plans to price zero-coupon principal-protected notes due March 26, 2010 linked to a basket of four currencies, according to an FWP filing with the Securities and Exchange Commission.

The basket consists of equal weights of the Brazilian real, the Indian rupee, the Mexican peso and the New Turkish lira, all against the dollar.

The payout at maturity will be par plus any gain on the basket times a participation rate that will be at least 200%. Investors will receive at least par.

The notes are expected to price on March 20 and settle on March 26.

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

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