New Issue: JPMorgan prices $2.06 million return enhanced notes tied to PHLX Oil

By Susanna Moon

Chicago, June 1 - JPMorgan Chase & Co. priced $2.06 million of 0% return enhanced notes due June 13, 2012 linked to the PHLX Oil Service Sector index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any index gain, up to a maximum return of 28.3%.

Investors will be exposed to any losses.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Return enhanced notes
Underlying index:	PHLX Oil Service Sector
Amount:	$2,055,000
Maturity:	June 13, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any index gain, capped at 28.3%; exposure to losses
Initial level:	271.0
Pricing date:	May 27
Settlement date:	June 2
Agent:	J.P. Morgan Securities LLC
Fees:	1%
Cusip:	48125XSK3

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