New Issue: JPMorgan prices $3 million buffered return enhanced notes linked to S&P 500

New York, May 13 - JPMorgan Chase & Co. priced $3 million of 0% buffered return enhanced notes due June 14, 2011 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.5 times any index gain, up to a maximum return of 19%. Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.

JPMorgan Securities Inc. is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Buffered return enhanced notes
Underlying index:	S&P 500
Amount:	$3 million
Maturity:	June 14, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.5 times any index gain, capped at 19%; par if index declines by 10% or less; 1% loss for every 1% decline beyond 10%
Initial price:	1110.88
Pricing date:	May 11
Settlement date:	May 14
Agent:	JPMorgan Securities Inc.
Fees:	1.06%

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