JPMorgan to price 8% six-month reverse exchangeables linked to Walt Disney

By E. Janene Geiss

Philadelphia, March 13 - JPMorgan Chase & Co. plans to price an issue of 4% (8% annual equivalent) reverse exchangeable notes due Sept. 24, 2007 linked to The Walt Disney Co., according to an FWP filing with the Securities and Exchange Commission.

If Walt Disney stock falls below 90% of the initial share price during the life of the notes and finishes below the initial share price, the payout will be a number of Walt Disney shares equal to $1,000 divided by the initial share price.

If the stock declines by more than 10%, the protection amount, investors will share in any losses.

Interest will be paid monthly.

The notes are expected to price March 19 and settle March 22.

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

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