New Issue: JPMorgan prices $1.06 million buffered equity notes linked to S&P 500

By Marisa Wong

Milwaukee, May 19 - JPMorgan Chase & Co. priced $1.06 million of 0% buffered equity notes due June 22, 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 any index gain, subject to a maximum return of 14.5%. Investors will receive par if the index declines by 10% or less and will be exposed to any decline beyond 10%.

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

Issuer:	JPMorgan Chase & Co.
Issue:	Buffered equity notes
Underlying index:	S&P 500
Amount:	$1,058,000
Maturity:	June 22, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain, up to maximum return of 14.5%; par if index declines by 10% or less; 1% loss for every 1% decline beyond 10%
Initial level:	1,136.94
Pricing date:	May 17
Settlement date:	May 20
Agent:	J.P. Morgan Securities Inc.
Fees:	2.4%
Cusip:	48124ARH2

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