JPMorgan plans to price market plus notes linked to price of gold

By Angela McDaniels

Tacoma, Wash., Dec. 15 - JPMorgan Chase & Co. plans to price 0% market plus notes due June 23, 2010 linked to the price of gold, according to an FWP filing with the Securities and Exchange Commission.

If the price of gold has declined from the initial price by 10% or more on any day during the life of the notes, the payout at maturity will be par plus the gold return. Otherwise, the payout will be par plus the greater of the gold return and 5%.

In both cases, the payout will be subject to a maximum return that is expected to be at least 13.75% and will be set at pricing.

The notes are expected to price Dec. 18 and settle Dec. 23.

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

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