New Issue: JPMorgan prices $82,000 10.5% reverse convertibles linked to Freeport-McMoRan

New York, May 30 - JPMorgan Chase & Co. priced $82,000 of 10.5% reverse convertible notes due May 30, 2014 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 $24.712, 80% of the initial price of $30.89, during the life of the notes and finish below the initial price in which case the payout will be 32.3729 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:	$82,000
Maturity:	May 30, 2014
Coupon:	10.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Freeport-McMoRan shares fall below the protection price of $24.712, 80% of the initial price, and finish below the initial price, in which case 32.3729 shares of Freeport-McMoRan stock
Initial price:	$30.89
Protection price:	$24.712, 80% of $30.89
Exchange ratio:	32.3729
Pricing date:	May 28
Settlement date:	May 31
Agent:	JPMorgan
Cusip:	48126NAZ0

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