New Issue: JPMorgan prices $4.37 million capped market plus notes tied to gold

By Jennifer Chiou

New York, March 22 - JPMorgan Chase & Co. priced $4.37 million of 0% capped market plus notes due March 29, 2012 linked to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.

If the price of gold remains at or above 82.25% of the initial price during the life of the notes, the payout at maturity will be par plus the greater of the gold return and 5%. Otherwise, the payout will be par plus the gold return.

In either case, the return is capped at 10%.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Capped market plus notes
Underlying commodity:	Gold
Amount:	$4,373,000
Maturity:	March 29, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus the greater of the gold return and 5% if the price of gold is at least 82.25% of initial price during the life of the notes; otherwise, par plus gold return; maximum return of 10% in either case.
Initial gold price:	$1,420
Pricing date:	March 18
Settlement date:	March 23
Agent:	J.P. Morgan Securities LLC
Fees:	1%
Cusip:	48125XJU1

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