New Issue: JPMorgan prices $3.35 million principal-protected notes linked to commodity basket

By Susanna Moon

Chicago, March 24 - JPMorgan Chase & Co. priced $3.35 million of zero-coupon principal-protected notes due March 26, 2012 linked to three commodities and two commodity indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of WTI crude oil with a 40% weight, copper grade A with a 20% weight, primary aluminum with a 15% weight, the S&P GSCI Precious Metals Index Excess Return with a 15% weight and the S&P GSCI Agriculture Index Excess Return with a 10% weight.

The payout at maturity will be par plus 105% of any basket gain. Investors will receive at least par.

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

Issuer:	JPMorgan Chase & Co.
Issue:	Principal-protected notes
Underlying commodities:	WTI crude oil (40% weight), copper grade A (20% weight), primary aluminum (15% weight), S&P GSCI Precious Metals Index Excess Return (15% weight), S&P GSCI Agriculture Index Excess Return (10% weight)
Amount:	$3,352,000
Maturity:	March 26, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 105% of any basket gain; floor of par
Pricing date:	March 19
Settlement date:	March 25
Underwriter:	J.P. Morgan Securities Inc.
Fees:	3.659%, including 2.187% for selling concessions

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