JPMorgan to price 8.8% reverse exchangeables linked to Intel

By E. Janene Geiss

Philadelphia, Dec. 15 - JPMorgan Chase & Co. plans to price an issue of 8.8% reverse exchangeable notes due Dec. 31, 2007 linked to the common stock of Intel Corp.

Interest will be paid monthly.

At maturity, investors will receive par unless Intel stock falls below the knock-in price - 80% 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 Intel shares equal to $1,000 divided by the initial share price.

The notes are expected to price Dec. 26 and settle Dec. 29.

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

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