JPMorgan plans to sell 18%-22% RevCons linked to Chesapeake Energy

By Susanna Moon

Chicago, Aug. 25 - JPMorgan Chase & Co. plans to price 18% to 22% annualized reverse convertible securities due March 15, 2010 linked to the common stock of Chesapeake Energy Corp., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless the stock falls below the trigger price - 75% of the initial share price - during the life of the notes and the final share price is less than the initial price, in which case the payout will be a number of Chesapeake shares equal to $1,000 divided by the initial share price or, at the issuer's option, the cash equivalent.

The notes will price on Sept. 9 and settle on Sept. 14.

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

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