JPMorgan plans issue of principal-protected exchangeable notes linked to Home Depot

By Jennifer Chiou

New York, June 26 - JPMorgan Chase & Co. plans to price an issue of principal-protected exchangeable notes due June 28, 2011 linked to Home Depot, Inc. stock, according to an FWP filing with the Securities and Exchange Commission.

The pricing date is expected to be on June 26 with settlement on June 28.

If at maturity the notes have not been exchanged, noteholders will receive the greater of par or the alternative redemption amount, which is product of the final share price and $1,000 divided by the initial share price times an exchange ratio. The exchange ratio will not be more than 120% and will be set on the pricing date.

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

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