New Issue: JPMorgan prices $105,000 11% reverse exchangeables tied to Halliburton

By Susanna Moon

Chicago, Feb. 15 - JPMorgan Chase & Co. priced $105,000 of 11% annualized reverse exchangeable notes due Aug. 17, 2012 linked to Halliburton Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless Halliburton stock closes below the 80% trigger level during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Halliburton shares equal to $1,000 divided by the initial share price or, at the issuer's option, the cash equivalent.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse exchangeable notes
Underlying stock:	Halliburton Co. (Symbol: HAL)
Amount:	$105,000
Maturity:	Aug. 17, 2012
Coupon:	11%, payable monthly
Price:	Par
Payout at maturity:	If stock ever falls by more than protection amount and the final share price is less than initial share price, a number of Halliburton shares equal to $1,000 divided by initial share price; otherwise, par
Initial share price:	$36.14
Protection amount:	$7.228, or 20% of initial share price
Pricing date:	Feb. 13
Settlement date:	Feb. 16
Agent:	J.P. Morgan Securities LLC
Fees:	3.82%, including 2.785% for selling concessions
Cusip:	48125VMM9

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