JPMorgan to price return enhanced notes linked to S&P 500

By E. Janene Geiss

Philadelphia, Nov. 5 - JPMorgan Chase & Co. plans to price 0% return enhanced notes due Nov. 21, 2008 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The notes are expected to price Nov. 9 and settle Nov. 15.

The payout at maturity will be par plus triple any index gain, capped at a maximum return that will be at least 18.9%. The exact cap will be determined at pricing.

Investors will be fully exposed to any decline in the index.

The final index level will be the average of the index's closing levels on Nov. 12, Nov. 13, Nov. 14, Nov. 17 and Nov. 18 of 2008.

J.P. Morgan Securities Inc. will be the agent.

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