New Issue: JPMorgan prices $380,000 14.37% reverse convertibles linked to F5 Networks

New York, May 19 - JPMorgan Chase & Co. priced $380,000 of 14.37% reverse convertible notes due Nov. 22, 2011 linked to F5 Networks, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless F5 Networks shares fall below the protection price of $67.496, 65% of the initial price of $103.84, during the life of the notes and finish below the initial price in which case the payout will be 9.6302 shares of F5 Networks stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	F5 Networks, Inc. (Symbol: FFIV)
Amount:	$380,000
Maturity:	Nov. 22, 2011
Coupon:	14.37%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless F5 Networks shares fall below the protection price of $67.496, 65% of the initial price, and finish below the initial price, in which case 9.6302 shares of F5 Networks stock
Initial price:	$103.84
Protection price:	$67.496, 65% of $103.84
Exchange ratio:	9.6302
Pricing date:	May 17
Settlement date:	May 20
Agent:	JPMorgan
Cusip:	48125XNP7

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