New Issue: JPMorgan sells $492,000 two-year buffered notes on S&P GSCI Precious Metals

By Susanna Moon

Chicago, July 13 - JPMorgan Chase & Co. priced $492,000 of 0% buffered notes due July 13, 2012 based on the performance of the S&P GSCI Precious Metals Index Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any index gain, up to a maximum return of 26.65%.

Investors will receive par if the index falls by up to 15% and will lose 1% for each 1% decline beyond 15%.

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

Issuer:	JPMorgan Chase & Co.
Issue:	Buffered notes
Underlying index:	S&P GSCI Precious Metals Index Excess Return
Amount:	$492,000
Maturity:	July 13, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain, capped at 26.65%; 1% loss for each 1% drop beyond 15%
Initial index level:	174.595
Pricing date:	July 9
Settlement date:	July 14
Agent:	J.P. Morgan Securities Inc.
Fees:	1.75%
Cusip:	48124AUY1

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