New Issue: JPMorgan prices $1.34 million knock-out notes linked to Euro Stoxx, Nikkei, S&P 500

By Angela McDaniels

Tacoma, Wash., Jan. 30 - JPMorgan Chase & Co. priced $1.34 million of 0% knock-out notes due Jan. 31, 2011 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The basket contains equal weights of the Dow Jones Euro Stoxx 50, Nikkei 225 and S&P 500 indexes.

A knock-out event will occur if any index closes below its knock-out level - 60% of its initial level - during the life of the notes.

If a knock-out event has occurred, the payout at maturity will be par plus the basket return. Otherwise, the payout will be par plus the greater of 21% and the basket return.

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

Issuer:	JPMorgan Chase & Co.
Issue:	Knock-out notes
Underlying indexes:	Dow Jones Euro Stoxx 50, Nikkei 225 and S&P 500, equally weighted
Amount:	$1,337,000
Maturity:	Jan. 31, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	If any index falls by 40% or more during the life of the notes, par plus the basket return; otherwise, par plus the greater of 21% and the basket return
Pricing date:	Jan. 28
Settlement date:	Jan. 31
Agent:	J.P. Morgan Securities Inc.
Fees:	3.6%, including selling concessions of 2% to 2.125%

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