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Published on 8/31/2007 in the Prospect News Structured Products Daily.

JPMorgan to price 14.1% reverse exchangeables linked to GM

By Susanna Moon

Chicago, Aug. 31 - JPMorgan Chase & Co. plans to price an issue of 14.1% reverse exchangeable notes due March 28, 2008 linked to General Motors Corp. common stock, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless the stock falls by more than the protection amount - 45% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of General Motors shares equal to $1,000 divided by the initial share price or, at the bank's election, the cash equivalent.

The notes will price on Sept. 25 and settle on Sept. 28.

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


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