New Issue: JPMorgan prices $436,000 principal-protected notes linked to currency basket

By Susanna Moon

Chicago, Sept. 19 - JPMorgan Chase & Co. priced $436,000 of zero-coupon principal-protected notes due Nov. 22, 2010 linked to a basket of four equally weighted currencies relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.

The currencies are the Brazilian real, the Indian rupee, the Mexican peso and the New Turkish lira.

Payout at maturity will be par plus triple any basket gain against the dollar. Investors will receive at least par.

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

Issuer:	JPMorgan Chase & Co.
Issue:	Principal-protected notes
Underlying currencies:	Brazilian real, Indian rupee, Mexican peso and New Turkish lira, equally weighted against the dollar
Amount:	$436,000
Maturity:	Nov. 22, 2010
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 300% of any basket gain versus dollar; floor of par
Initial spot rates:	0.53591 for real, 0.02158 for rupee, 0.09206 for peso and 0.78996 for lira
Pricing date:	Sept. 17
Settlement date:	Sept. 22
Agent:	J.P. Morgan Securities Inc.
Fees:	2.75%, including 0.5% for selling concessions

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