New Issue: JPMorgan prices $1 million 16% reverse convertibles linked to Foster Wheeler

New York, March 3 - JPMorgan Chase & Co. priced $1 million of 16% reverse convertible notes due Sept. 7, 2010 linked to Foster Wheeler AG shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Foster Wheeler shares fall below the protection price of $19.56, 80% of the initial price of $24.45, during the life of the notes and finish below the initial price in which case the payout will be 40.8998 shares of Foster Wheeler stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Foster Wheeler AG (Symbol: FWLT)
Amount:	$1 million
Maturity:	Sept. 7, 2010
Coupon:	16%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Foster Wheeler shares fall below the protection price of $19.56, 80% of the initial price, and finish below the initial price, in which case 40.8998 shares of Foster Wheeler stock
Initial price:	$24.45
Protection price:	$19.56, 80% of $24.45
Exchange ratio:	40.8998
Pricing date:	March 1
Settlement date:	March 4
Agent:	JPMorgan
Fees:	2.725%, including 2.125% for selling concessions

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