New Issue: JPMorgan prices $171,000 principal-protected notes linked to currency basket

By Angela McDaniels

Seattle, Sept. 18 - JPMorgan Chase & Co. priced $171,000 of zero-coupon principal-protected notes due March 19, 2012 linked to a basket of currencies, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes equal weights of the Brazilian real, Indian rupee, Mexican peso and New Turkish lira.

The payout at maturity will be par plus double any appreciation in the basket versus the dollar. If the basket remains flat or depreciate relative to the dollar, the payout will be par.

J.P. Morgan Securities Inc. is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Principal-protected notes
Underlying currencies:	Brazilian real, Indian rupee, Mexican peso and New Turkish lira, equally weighted
Amount:	$171,000
Maturity:	March 19, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus double any basket appreciation relative to the dollar; floor of par
Initial exchange rates:	0.5281 dollars per real; 0.0248 dollars per rupee; 0.09 dollars per peso; 0.7937 dollars per lira
Pricing date:	Sept. 14
Settlement date:	Sept. 19
Agent:	J.P. Morgan Securities Inc.
Fees:	3.6%, including 0.5% for selling concessions

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