What is the main purpose of this 8-K filing?

This 8-K filing is primarily to report and incorporate by reference a Tax Opinion from Davis Polk & Wardwell regarding specific financial notes issued by JPMorgan Chase.

Why is a Tax Opinion included?

A Tax Opinion is included to provide guidance on the tax treatment and implications of these notes for investors. Such opinions are common for complex financial instruments to clarify how gains, losses, and coupon payments might be taxed.

Does this filing provide an update on JPMorgan Chase's overall financial performance?

No, this 8-K filing does not provide a broad update on JPMorgan Chase's financial performance. It is specific to the disclosure of the Tax Opinion for a particular structured financial product.

JPMORGAN CHASE & CO 8-K SEC Disclosure

Q: What are the '9.75% Reverse Exchangeable Notes due December 27, 2007'?

These are financial notes issued by JPMorgan Chase with a fixed coupon of 9.75% per annum. Their value and payout at maturity are linked to the performance of the common stock of Gilead Sciences, Inc. The 'Reverse Exchangeable' nature implies that the principal amount at maturity may be paid in shares of Gilead Sciences or cash, depending on the stock's performance relative to a predetermined price.

Summary

JPMorgan Chase & Co. (JPM) filed a Form 8-K on December 20, 2006, to report a specific exhibit. This filing is not a comprehensive financial update but rather an informational disclosure concerning a particular financial instrument. The key event relates to the filing of a Tax Opinion from Davis Polk & Wardwell. This Tax Opinion pertains to the "9.75% Reverse Exchangeable Notes due December 27, 2007, Linked to the Common Stock of Gilead Sciences, Inc." For investors, this highlights the company's engagement in structured products and derivatives, specifically a note whose return is tied to the performance of Gilead Sciences' stock. The inclusion of a tax opinion suggests the complexity and specific tax implications associated with these notes, which would be of interest to investors holding or considering such instruments.

Key Highlights

1JPM filed an 8-K on December 20, 2006.
2The filing's primary purpose is to disclose an exhibit.
3The exhibit is a Tax Opinion from Davis Polk & Wardwell.
4The Tax Opinion concerns 9.75% Reverse Exchangeable Notes.
5These notes mature on December 27, 2007.
6The notes are linked to the Common Stock of Gilead Sciences, Inc.

JPMORGAN CHASE & CO 8-K Report, Exhibit Filing (Dec 20, 2006)

Summary

Key Highlights

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