New Issue: JPMorgan upsizes 14% reverse exchangeables linked to GE to $425,000

By Angela McDaniels

Tacoma, Wash., Aug. 3 - JPMorgan Chase & Co. increased its recent issue of 14% reverse exchangeable notes due Jan. 29, 2010 linked to the common stock of General Electric Co. to $425,000 from $415,000, according to a 424B3 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par in cash unless General Electric shares decline by more than 30% during the life of the notes and finish below the initial price, in which case the payout will be a number of General Electric shares equal to $1,000 divided by the initial price.

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

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse exchangeable notes
Underlying stock:	General Electric Co. (Symbol: GE)
Amount:	$425,000, upsized from $415,000
Maturity:	Jan. 29, 2010
Coupon:	14%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless General Electric shares fall by more than the protection amount during the life of the notes and finish below the initial price, in which case 79.8722 General Electric shares
Initial price:	$12.52
Protection amount:	$3.78, 30% of initial price
Pricing date:	July 28
Settlement date:	July 31
Agent:	J.P. Morgan Securities Inc.
Fees:	2.36%, including 1.93% for selling concessions

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