New Issue: JPMorgan prices $26,000 buffered return enhanced notes linked to MSCI EAFE

By Susanna Moon

Chicago, March 28 - JPMorgan Chase & Co. priced $26,000 of 0% buffered return enhanced notes due Sept. 30, 2009 linked to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any index gain, subject to a maximum return of 13.5%. Investors will receive par if the index declines by 15% or less and will lose 1% for each 1% decline beyond 15%.

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

Issuer:	JPMorgan Chase & Co.
Issue:	Buffered return enhanced notes
Underlying index:	MSCI EAFE
Amount:	$26,000
Maturity:	Sept. 30, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus double any index gain, capped at 13.5% return; par if index falls by 15% or less; 1% loss for each 1% decline beyond 15%
Initial index level:	2,037.16
Pricing date:	March 26
Settlement date:	March 31
Agent:	J.P. Morgan Securities Inc.
Fees:	3.7%, including 1.5% for selling concessions

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