New Issue: JPMorgan prices $670,000 11.35% reverse convertibles linked to Emerson Electric

New York, May 14 - JPMorgan Chase & Co. priced $670,000 of 11.35% reverse convertible notes due Nov. 16, 2012 linked to Emerson Electric Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Emerson Electric shares fall below the protection price of $41.225, 85% of the initial price of $48.50, during the life of the notes and finish below the initial price in which case the payout will be 20.6186 shares of Emerson Electric stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Emerson Electric Co. (Symbol: EMR)
Amount:	$670,000
Maturity:	Nov. 16, 2012
Coupon:	11.35%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Emerson Electric shares fall below the protection price of $41.225, 85% of the initial price, and finish below the initial price, in which case 20.6186 shares of Emerson Electric stock
Initial price:	$48.50
Protection price:	$41.225, 85% of $48.50
Exchange ratio:	20.6186
Pricing date:	May 10
Settlement date:	May 15
Agent:	JPMorgan
Fees:	1%
Cusip:	48125VWB2

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