New Issue: JPMorgan sells $2.871 million buffered return enhanced notes linked to S&P 500

By Angela McDaniels

Seattle, Aug. 29 - JPMorgan Chase & Co. sold $2.871 million of 0% buffered return enhanced senior notes due Dec. 12, 2007 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par plus twice any positive return on the index, capped at a maximum payout of 13.6%.

If the ending index level declines by 10% or less, payout at maturity will be par. Holders will lose 1.1111% for each 1% decline beyond 10%.

Issuer:	JPMorgan Chase & Co.
Issue:	Buffered return enhanced senior notes
Underlying index:	S&P 500
Amount:	$2.871 million
Maturity:	Dec. 12, 2007
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus twice any return on the index, capped at a 13.6% payout; par if the ending basket level declines by 10% or less; investors will lose 1.1111% for each 1% the index falls beyond 10%
Pricing date:	Aug. 25
Settlement date:	Aug. 30
Underwriter:	J.P. Morgan Securities Inc.

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