JPMorgan plans 14% single observation reverse exchangeables linked to General Electric

By Jennifer Chiou

New York, Dec. 5 - JPMorgan Chase & Co. plans to price 14% annualized single observation reverse exchangeable notes due June 17, 2009 linked to the common stock of General Electric Co., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The observation date is June 12, 2009.

Payout at maturity will be par unless General Electric stock falls by more than 50% on the observation date, in which case the payout will be a number of General Electric shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, the value of those shares in cash.

The notes will price on Dec. 12 and settle on Dec. 17.

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

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