JPMorgan to price 13% reverse exchangeables linked to SanDisk

By E. Janene Geiss

Philadelphia, March 6 - JPMorgan Chase & Co. plans to price an issue of 13% reverse exchangeable notes due March 28, 2008 linked to SanDisk Corp., according to an FWP filing with the Securities and Exchange Commission.

If SanDisk stock falls below 70% of the initial share price during the life of the notes and finishes below the initial share price, the payout will be a number of SanDisk shares equal to $1,000 divided by the initial share price.

If the stock declines by more than 30%, the protection amount, investors will share in any losses.

Interest will be paid monthly.

The notes are expected to price March 23 and settle March 28.

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

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