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Published on 2/12/2007 in the Prospect News Structured Products Daily.

New Issue: JPMorgan prices $2.5 million 95% principal-protected notes linked to Nikkei 225

By Jennifer Chiou

New York, Feb. 12 - JPMorgan Chase & Co. priced $2.5 million of 95% principal-protected notes due Jan. 10, 2008 linked to the Nikkei 225 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par minus 5%, or $950, plus an additional amount equal to triple any gain on the index. The additional amount will be capped at $214.50 per $1,000 principal amount, which limits the return to 16.45%.

The final index level will be the average of the index's closing level on Dec. 26, 2007, Dec. 27, 2007, Dec. 28, 2007, Jan. 4, 2008 and Jan. 7, 2008.

Issuer:JPMorgan Chase & Co.
Issue:95% principal-protected notes
Underlying index:Nikkei 225
Amount:$2.5 million
Maturity:Jan. 10, 2008
Coupon:0%
Price:Par
Payout at maturity:Par minus 5%, or $950.00, plus triple any index gain, capped at 21.45% per $1,000, or 16.45% on initial investment
Initial index level:17,292.48
Pricing date:Feb. 8
Settlement date:Feb. 13
Agent:J.P. Morgan Securities Inc.
Agent fees:1.3%, including 0.65% for selling concessions

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