New Issue: JPMorgan prices $1.25 million 10.5% reverse convertibles linked to FedEx

New York, Aug. 5 - JPMorgan Chase & Co. priced $1.25 million of 10.5% reverse convertible notes due Feb. 8, 2012 linked to FedEx Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless FedEx shares fall below the protection price of $64.305, 75% of the initial price of $85.74, during the life of the notes and finish below the initial price in which case the payout will be 11.6632 shares of FedEx stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	FedEx Corp. (Symbol: FDX)
Amount:	$1.25 million
Maturity:	Feb. 8, 2012
Coupon:	10.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless FedEx shares fall below the protection price of $64.305, 75% of the initial price, and finish below the initial price, in which case 11.6632 shares of FedEx stock
Initial price:	$85.74
Protection price:	$64.305, 75% of $85.74
Exchange ratio:	11.6632
Pricing date:	Aug. 3
Settlement date:	Aug. 8
Agent:	JPMorgan
Fees:	0.75%
Cusip:	48125XG59

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