JPMorgan to price 20% reverse exchangeables linked to GE

By Angela McDaniels

Tacoma, Wash., Nov. 18 - JPMorgan Chase & Co. plans to price reverse exchangeable notes due May 28, 2009 linked to the common stock of General Electric Co., according to an FWP filing with the Securities and Exchange Commission.

The six-month notes will pay 10% for an annualized coupon of 20%. Interest will be payable monthly.

The payout at maturity will be par unless GE stock falls by more than 50% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of GE shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, a cash amount equal to the value of those shares.

The notes are expected to price on Nov. 24 and settle on Nov. 28.

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

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