New Issue: JPMorgan prices $0.042 million 20% reverse convertibles linked to Freeport-McMoRan

New York, March 10 - JPMorgan Chase & Co. priced $0.042 million of 20% reverse convertible notes due June 11, 2009 linked to Freeport-McMoRan Copper & Gold Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Freeport-McMoRan shares fall below the protection price, 40% of the initial price of $33.88, 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:	$0.042 million
Maturity:	June 11, 2009
Coupon:	20%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Freeport-McMoRan shares fall below the protection price, 40% 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:	$33.88
Pricing date:	March 6
Settlement date:	March 11
Agent:	JPMorgan

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