New Issue: JPMorgan prices $10,000 17.25% reverse exchangeables linked to First Solar

By Susanna Moon

Chicago, Sept. 3 - JPMorgan Chase & Co. priced $10,000 of 17.25% annualized reverse exchangeable notes due March 3, 2014 linked to First Solar Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless First Solar shares fall below the protection price - 70% of the initial price - during the life of the notes and finish below the initial price in which case the payout will be a number of First Solar shares equal to $1,000 divided by the initial share price.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse exchangeable notes
Underlying stock:	First Solar Inc. (Symbol: FSLR)
Amount:	$10,000
Maturity:	March 3, 2014
Coupon:	17.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless First Solar shares ever dips by more than buffer amount and finish below the initial price, in which case number of First Solar shares equal to $1,000 divided by the initial share price
Initial price:	$36.92
Buffer amount:	$11.076, 30% of initial price
Pricing date:	Aug. 28
Settlement date:	Aug. 30
Agent:	JPMorgan
Fees:	2.57%
Cusip:	48126NPL5

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