JPMorgan pushes back pricing for issue of 15.5% reverse exchangeable notes linked to Nvidia

By Jennifer Chiou

New York, July 14 - JPMorgan Chase & Co. said it postponed pricing on an issue of 15.5% reverse exchangeable notes due July 25, 2007 linked to the Nvidia Corp. stock, according to an amended FWP filing with the Securities and Exchange Commission.

The pricing date is now expected to be on or about July 21 with settlement on July 26, delayed from on or about July 14 with settlement on July 19, respectively.

The notes originally were to mature on July 19, 2007.

Interest will be payable monthly.

Noteholders will receive par unless the final share price of Nvidia stock is less than the initial price and it falls below the protection amount during the life of the notes, in which case a number of Nvidia shares equal to $1,000 divided by the initial share price. The protection amount is 30% of the initial share price.

Investors will share in any losses.

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

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