New Issue: JPMorgan prices $0.5 million 10.75% reverse convertibles linked to Walt Disney

New York, May 28 - JPMorgan Chase & Co. priced $0.5 million of 10.75% reverse convertible notes due May 28, 2010 linked to Walt Disney Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Walt Disney shares fall below the protection price of $17.178, 70% of the initial price of $24.54, during the life of the notes and finish below the initial price in which case the payout will be 40.7498 shares of Walt Disney stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Walt Disney Co. (Symbol: DIS)
Amount:	$0.5 million
Maturity:	May 28, 2010
Coupon:	10.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Walt Disney shares fall below the protection price of $17.178, 70% of the initial price, and finish below the initial price, in which case 40.7498 shares of Walt Disney stock
Initial price:	$24.54
Protection price:	$17.178, 70% of $24.54
Exchange ratio:	40.7498
Pricing date:	May 26
Settlement date:	May 29
Agent:	JPMorgan
Fees:	4.2%

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