TERMS SHEET
This terms sheet contains selected information for quick reference only. You should read
this Supplement, particularly "Risk Factors," and each of the other documents listed under
"Available Information."
Sponsor: J.P. Morgan Securities Inc.
Trustee: U.S. Bank National Association
Tax Administrator: The Trustee
Closing Date: June 30, 2005
Distribution Date: The 20th day of each month or, if the 20th day is not a Business Day, the
first Business Day thereafter, commencing in July 2005.
Trust Assets:
Trust
Asset
Group
Trust Asset Type
Certificate Rate
Original Term
To Maturity
(in years)
1
Underlying SMBS Securities
(1)
(1)
2
Ginnie Mae II
5.5%
30
3
Ginnie Mae II
6.5%
30
4
Ginnie Mae II
5.5%
30
(1)Certain information regarding the Underlying SMBS Securities is set forth
in Exhibits A and B to this Supplement.
Security Groups: This series of Securities consists of multiple Security Groups (each, a
"Group"), as shown on the inside front cover of this Supplement and on Schedule I to this
Supplement. Payments on each Group will be based solely on payments on the Trust Asset
Group with the same numerical designation.
Assumed Characteristics of the Mortgage Loans Underlying the Group 2, 3 and 4 Trust
Assets1:
Principal
Balance2
Weighted Average
Remaining Term to
Maturity (in months)
Weighted Average
Loan Age
(in months)
Weighted
Average
Mortgage Rate3
Group 2 Trust Assets
$200,000,000
355
3
5.95%
Group 3 Trust Assets
$ 50,000,000
345
12
6.87%
Group 4 Trust Assets
$100,704,000
355
3
6.06%
1As of June 1, 2005.
2Does not include the Group 2 Trust Assets that will be added to pay the
Trustee Fee.
3The Mortgage Loans underlying the Group 2, 3 and 4 Trust Assets may bear
interest at rates ranging from 0.25% to 1.50% per annum above the related
Certificate Rate.
The actual remaining terms to maturity, loan ages and Mortgage Rates of many of the Mortgage
Loans underlying the Group 2, 3 and 4 Trust Assets will differ from the weighted averages
shown above, perhaps significantly. See "The Trust Assets – The Mortgage Loans" in
S-4