New Issue: JPMorgan sells $750,000 25% notes linked to Six Flags

By Jennifer Chiou

New York, April 3 - JPMorgan Chase & Co. priced a $750,000 issue of 25% reverse exchangeable notes due July 5, 2007 linked to Six Flags, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The three-month notes pay 6.25% for an annualized rate of 25%.

Payout at maturity will be par in cash unless Six Flags stock falls by more than the protection amount of $1.49 during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Six Flags shares equal to $1,000 divided by the initial share price.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse exchangeable notes
Underlying stock:	Six Flags, Inc.
Amount:	$750,000
Maturity:	July 5, 2007
Coupon:	25%
Price:	Par
Payout at maturity:	Par in cash if Six Flags stock does not decrease by more than the protection amount of $1.49 and finishes at or above the initial price; otherwise 168.0672 shares of Six Flags stock
Initial share price:	$5.95
Protection amount:	$1.49, 25% of $5.95
Pricing date:	April 2
Settlement date:	April 5
Agent:	J.P. Morgan Securities Inc.
Fees:	2.35% total, including 1.25% for selling concessions

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