New Issue: JPMorgan prices $307,000 11.75% reverse convertibles linked to Freeport-McMoRan

New York, June 16 - JPMorgan Chase & Co. priced $307,000 of 11.75% reverse convertible notes due Dec. 19, 2011 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 of $39.904, 80% of the initial price of $49.88, during the life of the notes and finish below the initial price in which case the payout will be 20.0481 shares of Freeport-McMoRan stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Freeport-McMoRan Copper & Gold Inc. (Symbol: FCX)
Amount:	$307,000
Maturity:	Dec. 19, 2011
Coupon:	11.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Freeport-McMoRan shares fall below the protection price of $39.904, 80% of the initial price, and finish below the initial price, in which case 20.0481 shares of Freeport-McMoRan stock
Initial price:	$49.88
Protection price:	$39.904, 80% of $49.88
Exchange ratio:	20.0481
Pricing date:	June 14
Settlement date:	June 17
Agent:	JPMorgan
Cusip:	48125XTX4

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