New Issue: JPMorgan prices $0.131 million 12.5% reverse convertibles linked to Freeport-McMoRan

New York, Oct. 13 - JPMorgan Chase & Co. priced $0.131 million of 12.5% reverse convertible notes due April 14, 2010 linked to Freeport-McMoRan Copper & Gold Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Freeport-McMoRan shares fall below the protection price, 70% of the initial price of $74.34, during the life of the notes and finish below the initial price in which case the payout will be Freeport-McMoRan shares equal to $1,000 principal amount divided by the initial price.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Freeport-McMoRan Copper & Gold Inc. (Symbol: FCX)
Amount:	$0.131 million
Maturity:	April 14, 2010
Coupon:	12.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Freeport-McMoRan shares fall below the protection price, 70% of the initial price, and finish below the initial price, in which case Freeport-McMoRan shares equal to $1,000 principal amount divided by the initial price
Initial price:	$74.34
Protection price:	70% of $74.34
Pricing date:	Oct. 9
Settlement date:	Oct. 15
Agent:	JPMorgan

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