JPMorgan plans 0% buffered return enhanced notes linked to Russell 2000

By E. Janene Geiss

Philadelphia, March 13 - JPMorgan Chase & Co. plans to price an issue of 0% buffered return enhanced notes due Sept. 30, 2009 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

If the final index level is at least the initial level, the payout at maturity will be par plus double any gain in the index, subject to a maximum return of at least 22%. The exact cap will be determined at pricing.

If the index declines by up to 10%, the payout will be par. Investors will lose 1.1111 % for each 1% that the index declines beyond 10%.

The notes are expected to price March 25 and settle March 28.

J.P. Morgan Securities Inc. will be the agent.

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