New Issue: JPMorgan prices $1 million 15% reverse convertibles linked to Stone Energy

New York, Oct. 28 - JPMorgan Chase & Co. priced $1 million of 15% reverse convertible notes due Feb. 1, 2011 linked to Stone Energy Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Stone Energy shares fall below the protection price of $9.98, 64.47% of the initial price of $15.48, during the life of the notes and finish below the initial price in which case the payout will be 64.5995 shares of Stone Energy stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Stone Energy Corp. (Symbol: SGY)
Amount:	$1 million
Maturity:	Feb. 1, 2011
Coupon:	15%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Stone Energy shares fall below the protection price of $9.98, 64.47% of the initial price, and finish below the initial price, in which case 64.5995 shares of Stone Energy stock
Initial price:	$15.48
Protection price:	$9.98, 64.47% of $15.48
Exchange ratio:	64.5995
Pricing date:	Oct. 27
Settlement date:	Oct. 29
Agent:	JPMorgan
Fees:	2%, including 1.6% for selling concessions
Cusip:	48124AV20

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