New Issue: JPMorgan prices $0.776 million 17% reverse convertibles linked to Alcoa

New York, May 12 - JPMorgan Chase & Co. priced $0.776 million of 17% reverse convertible notes due Nov. 13, 2009 linked to Alcoa Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Alcoa shares fall below the protection price of $5.005, 50% of the initial price of $10.01, during the life of the notes and finish below the initial price in which case the payout will be 99.9001 shares of Alcoa stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Alcoa Inc. (Symbol: AA)
Amount:	$0.776 million
Maturity:	Nov. 13, 2009
Coupon:	17%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Alcoa shares fall below the protection price of $5.005, 50% of the initial price, and finish below the initial price, in which case 99.9001 shares of Alcoa stock
Initial price:	$10.01
Protection price:	$5.005, 50% of $10.01
Exchange ratio:	99.9001
Pricing date:	May 8
Settlement date:	May 13
Agent:	JPMorgan

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