New Issue: JPMorgan prices $322,000 9.25% reverse exchangeables linked to Hertz

By Toni Weeks

San Luis Obispo, Calif., Dec. 3 - JPMorgan Chase & Co. priced $322,000 of 9.25% reverse exchangeable notes due Nov. 28, 2014 linked to Hertz Global Holdings, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par in cash unless Hertz shares fall by more than 20% during the life of the notes and finish below the initial price, in which case the payout will be 41.9639 shares of Hertz stock.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse exchangeable notes
Underlying stock:	Hertz Global Holdings, Inc. (Symbol: HTZ)
Amount:	$322,000
Maturity:	Nov. 28, 2014
Coupon:	9.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Hertz shares fall by more than 20% during the life of the notes and finish below the initial price, in which case 41.9639 shares of Hertz stock
Initial price:	$23.83
Buffer amount:	$4.766, 20% of initial price
Exchange ratio:	41.9639
Pricing date:	Nov. 26
Settlement date:	Nov. 29
Agent:	J.P. Morgan Securities LLC
Fees:	2.39%
Cusip:	48126NE52

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