JPMorgan to price 11% reverse exchangeables linked to Hartford Financial Services

By E. Janene Geiss

Philadelphia, March 12 - JPMorgan Chase & Co. plans to price 11% annualized reverse exchangeable notes due Sept. 30, 2008 linked to the common stock of Hartford Financial Services Group, Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

Investors will receive par unless Hartford stock falls below 75% 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 Hartford shares equal to $1,000 divided by the initial share price.

The notes are expected to price on March 26 and settle on March 31.

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

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