JPMorgan plans 10.1% reverse exchangeables linked to Research in Motion

By E. Janene Geiss

Philadelphia, Aug. 28 - JPMorgan Chase & Co. plans to price 10.1% reverse exchangeable notes due Sept. 11, 2009 linked to the common stock of Research in Motion Ltd., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless Research in Motion stock falls by more than 50% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Research in Motion shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, the value of those shares in cash.

The notes are expected to price Sept. 9 and settle Sept. 12.

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

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