New Issue: JPMorgan prices $4.11 million 8.8% reverse exchangeables linked to Fluor

New York, Nov. 6 - JPMorgan Chase & Co. priced $4.106 million of 8.8% reverse exchangeable notes due May 8, 2014 linked to Fluor Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Fluor shares fall below the protection price of $60.648, 80% of the initial price of $75.81, during the life of the notes and finish below the initial price in which case the payout will be 13.1909 shares of Fluor stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse exchangeable notes
Underlying stock:	Fluor Corp. (Symbol: FLR)
Amount:	$4.106 million
Maturity:	May 8, 2014
Coupon:	8.8%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Fluor shares fall below the protection price of $60.648, 80% of the initial price, and finish below the initial price, in which case 13.1909 shares of Fluor stock
Initial price:	$75.81
Protection price:	$60.648, 80% of $75.81
Exchange ratio:	13.1909
Pricing date:	Nov. 4
Settlement date:	Nov. 7
Agent:	JPMorgan
Fees:	0.1%
Cusip:	48126NB22

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