New Issue: JPMorgan prices $1.36 million single observation capped market plus notes tied to copper

By Jennifer Chiou

New York, May 10 - JPMorgan Chase & Co. priced $1.36 million of 0% single observation capped market plus notes due May 18, 2012 linked to the spot price of grade A copper, according to a 424B2 filing with the Securities and Exchange Commission.

If the ending spot price of copper is less than or equal to the knock-out buffer amount of 87% of the strike value, the payout at maturity will be par plus the copper return, capped at 11%. Otherwise, the payout will be par plus the copper return, subject to a minimum return of 8% and a maximum return of 11%.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Single observation capped market plus notes
Underlying commodity:	Grade A copper
Amount:	$1,355,000
Maturity:	May 18, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus copper return, capped at 11%, if ending spot price of copper is less than or equal to the knock-out buffer amount; otherwise, par plus copper return, subject to a minimum of 8% and a maximum of 11%
Strike value:	$8,790
Pricing date:	May 6
Settlement date:	May 11
Agent:	J.P. Morgan Securities LLC
Fees:	1%
Cusip:	48125XPU4

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