New Issue: JPMorgan prices $500,000 16.25% reverse convertibles linked to Seagate Technology

New York, May 29 - JPMorgan Chase & Co. priced $500,000 of 16.25% reverse convertible notes due Nov. 29, 2012 linked to Seagate Technology Public Ltd. Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Seagate Technology shares fall below the protection price of $15.834, 60% of the initial price of $26.39, during the life of the notes and finish below the initial price in which case the payout will be 37.8931 shares of Seagate Technology stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Seagate Technology Public Ltd. Co. (Symbol: STX)
Amount:	$500,000
Maturity:	Nov. 29, 2012
Coupon:	16.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Seagate Technology shares fall below the protection price of $15.834, 60% of the initial price, and finish below the initial price, in which case 37.8931 shares of Seagate Technology stock
Initial price:	$26.39
Protection price:	$15.834, 60% of $26.39
Exchange ratio:	37.8931
Pricing date:	May 24
Settlement date:	May 30
Agent:	JPMorgan
Fees:	3.5%, including 2.25% for selling concessions
Cusip:	48125VA26

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