New Issue: JPMorgan prices $500,000 of 3x return enhanced notes linked to Euro Stoxx 50

By Laura Lutz

Des Moines, Jan. 11 - JPMorgan Chase & Co. priced $500,000 of zero-coupon 3x return enhanced notes due Feb. 12, 2009 linked to the Dow Jones Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is at least the initial level, the payout at maturity will be par plus 300% of any gain on the index, capped at a maximum payout equal to 120.4% of par.

Otherwise, the payout will be par times the index performance.

JPMorgan Securities Inc. is the underwriter.

Issuer:	JPMorgan Chase & Co.
Issue:	3x return enhanced notes
Underlying index:	Dow Jones Euro Stoxx 50 index
Amount:	$500,000
Maturity:	Feb. 12, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	If final level is at least initial level, par plus 300% of any index gain, capped at payout of 120.4% of par; otherwise, par times index performance
Pricing date:	Jan. 9
Settlement date:	Jan. 14
Underwriters:	JPMorgan Securities Inc.
Fees:	1.77%, including 1% for selling concessions

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