New Issue: JPMorgan prices $1.58 million 15.15% reverse convertibles linked to Ford Motor

New York, Aug. 25 - JPMorgan Chase & Co. priced $1.58 million of 15.15% reverse convertible notes due Nov. 30, 2010 linked to Ford Motor Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Ford Motor shares fall below the protection price of $7.875, 70% of the initial price of $11.25, during the life of the notes and finish below the initial price in which case the payout will be 88.8889 shares of Ford Motor stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Ford Motor Co. (Symbol: F)
Amount:	$1.58 million
Maturity:	Nov. 30, 2010
Coupon:	15.15%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Ford Motor shares fall below the protection price of $7.875, 70% of the initial price, and finish below the initial price, in which case 88.8889 shares of Ford Motor stock
Initial price:	$11.25
Protection price:	$7.875, 70% of $11.25
Exchange ratio:	88.8889
Pricing date:	Aug. 24
Settlement date:	Aug. 31
Agent:	JPMorgan
Cusip:	48124AA72

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