New Issue: JPMorgan sells $2.16 million buffered equity notes on iShares MSCI Emerging Markets

By Susanna Moon

Chicago, May 5 - JPMorgan Chase & Co. priced $2.16 million of 0% buffered equity notes due Nov. 5, 2009 linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any fund gain, up to a maximum return of 42%.

Investors will par if the shares fall by up to 20% and will lose 1% for each 1% drop beyond 20%.

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

Issuer:	JPMorgan Chase & Co.
Issue:	Buffered equity notes
Underlying index:	iShares MSCI Emerging Markets index fund
Amount:	$2,162,000
Maturity:	Nov. 5, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus double any fund gain, capped at 42%; par if shares fall by up to 20%; 1% loss for each 1% drop beyond 20%
Initial share price:	$29.10
Pricing date:	May 1
Settlement date:	May 6
Agent:	J.P. Morgan Securities Inc.
Fees:	1.558%

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