New Issue: JPMorgan prices $1 million 12.5% reverse convertibles linked to Forest Oil

New York, Jan. 30 - JPMorgan Chase & Co. priced $1 million of 12.5% reverse convertible notes due April 30, 2012 linked to Forest Oil Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Forest Oil shares fall below the protection price of $9.12, 61.8305% of the initial price of $14.75, during the life of the notes and finish below the initial price in which case the payout will be 67.7966 shares of Forest Oil stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Forest Oil Corp. (Symbol: FST)
Amount:	$1 million
Maturity:	April 30, 2012
Coupon:	12.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Forest Oil shares fall below the protection price of $9.12, 61.8305% of the initial price, and finish below the initial price, in which case 67.7966 shares of Forest Oil stock
Initial price:	$14.75
Protection price:	$9.12, 61.8305% of $14.75
Exchange ratio:	67.7966
Pricing date:	Jan. 25
Settlement date:	Jan. 30
Agent:	JPMorgan
Fees:	1.7%, including 1.35% for selling concessions
Cusip:	48125VLA6

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