JPMorgan to price 21% reverse exchangeables linked to Under Armour

By Jennifer Chiou

New York, March 27 - JPMorgan Chase & Co. plans to price 21% annualized reverse exchangeable notes due July 9, 2008 linked to the common stock of Under Armour, Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

Investors will receive par unless Under Armour stock falls below 70% of the initial share price during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Under Armour shares equal to $1,000 divided by the initial share price.

The notes are expected to price on April 4 and settle on April 9.

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

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