New Issue: JPMorgan prices $9.47 million 0% return enhanced notes linked to Nikkei 225

By Laura Lutz

Des Moines, Jan. 29 - JPMorgan Chase & Co. priced $9.47 million of zero-coupon return enhanced notes due July 30, 2009 linked to the Nikkei 225 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is at least the initial level, the payout at maturity will be par plus 300% of any gain on the index, capped at a maximum payout equal to 130% of par.

Otherwise, the payout will be par times the index performance.

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

Issuer:	JPMorgan Chase & Co.
Issue:	Return enhanced notes
Underlying index:	Nikkei 225
Amount:	$9.47 million
Maturity:	July 30, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	If final level is at least initial level, par plus 300% of any index gain, capped at payout of 130% of par; otherwise, par times index performance
Pricing date:	Jan. 25
Settlement date:	Jan. 30
Underwriters:	J.P. Morgan Securities Inc.
Fees:	2.832%, including 1.5% for selling concessions

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