New Issue: JPMorgan sells $3.74 million buffered return enhanced notes on iShares MSCI Brazil

By Susanna Moon

Chicago, Feb. 23 - JPMorgan Chase & Co. priced $3.74 million of 0% buffered return enhanced notes due Feb. 25, 2013 based on the iShares MSCI Brazil index fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.25 times any fund gain, up to a maximum return of 75%.

Investors will receive par if the shares fall by up to 20% and will lose 1% for every 1% decline beyond the buffer.

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

Issuer:	JPMorgan Chase & Co.
Issue:	Buffered return enhanced notes
Underlying fund:	iShares MSCI Brazil index fund
Amount:	$3,735,000
Maturity:	Feb. 25, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 125% of any fund gain, capped at 75%; 1% loss for every 1% drop beyond 20%
Initial share price:	$69.71
Pricing date:	Feb. 19
Settlement date:	Feb. 24
Agent:	J.P. Morgan Securities Inc.
Fees:	0.637%
Cusip:	48124AHT7

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