New Issue: JPMorgan prices $280,000 13.75% reverse convertibles linked to Joy Global

New York, Oct. 1 - JPMorgan Chase & Co. priced $280,000 of 13.75% reverse convertible notes due March 28, 2013 linked to Joy Global Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Joy Global shares fall below the protection price of $42.2775, 75% of the initial price of $56.37, during the life of the notes and finish below the initial price in which case the payout will be 17.7399 shares of Joy Global stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Joy Global Inc. (Symbol: JOY)
Amount:	$280,000
Maturity:	March 28, 2013
Coupon:	13.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Joy Global shares fall below the protection price of $42.2775, 75% of the initial price, and finish below the initial price, in which case 17.7399 shares of Joy Global stock
Initial price:	$56.37
Protection price:	$42.2775, 75% of $56.37
Exchange ratio:	17.7399
Pricing date:	Sept. 26
Settlement date:	Sept. 28
Agent:	JPMorgan
Fees:	2.2%
Cusip:	48125V6U9

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