New Issue: JPMorgan prices $1.05 million lesser index notes linked to Nikkei 225, Euro Stoxx 50

By Jennifer Chiou

New York, July 31 - JPMorgan Chase & Co. priced a $1.05 million issue of lesser index principal-protected notes due April 11, 2008 linked to the Nikkei 225 index and the Dow Jones Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

At maturity, investors will receive par plus two times the lesser of the returns on the two indexes, capped at 9.6%. Investors will receive at least par.

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

Issuer:	JPMorgan Chase & Co.
Issue:	Lesser index principal-protected notes
Underlying indexes:	Nikkei 225, Dow Jones Euro Stoxx 50
Amount:	$1.05 million
Maturity:	April 11, 2008
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus two times the lesser of the returns on the two indexes, capped at 9.6% return, floor of par
Initial index level:	17,283.81 for Nikkei 225; 4,244.58 for Dow Jones Euro Stoxx 50
Pricing date:	July 27
Settlement date:	Aug. 1
Agent:	J.P. Morgan Securities Inc.
Fees:	6.1% total, including 3.05% for selling concessions

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