New Issue: JPMorgan prices $1 million 9% reverse convertibles linked to Northern Oil

New York, July 10 - JPMorgan Chase & Co. priced $1 million of 9% reverse convertible notes due Oct. 11, 2012 linked to Northern Oil and Gas, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Northern Oil shares fall below the protection price of $10.45, 64.2681% of the initial price of $16.26, during the life of the notes and finish below the initial price in which case the payout will be 61.5006 shares of Northern Oil stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Northern Oil and Gas, Inc. (Symbol: NOG)
Amount:	$1 million
Maturity:	Oct. 11, 2012
Coupon:	9%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Northern Oil shares fall below the protection price of $10.45, 64.2681% of the initial price, and finish below the initial price, in which case 61.5006 shares of Northern Oil stock
Initial price:	$16.26
Protection price:	$10.45, 64.2681% of $16.26
Exchange ratio:	61.5006
Pricing date:	July 6
Settlement date:	July 11
Agent:	JPMorgan
Fees:	1.75%, including 1.25% for selling concessions
Cusip:	48125VR51

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