New Issue: JPMorgan prices $0.02 million 15% reverse convertibles linked to Yamana Gold

New York, May 27 - JPMorgan Chase & Co. priced $0.018 million of 15% reverse convertible notes due May 27, 2011 linked to Yamana Gold, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Yamana Gold shares fall below the protection price of $8.36, 80% of the initial price of $10.45, during the life of the notes and finish below the initial price in which case the payout will be 95.6938 shares of Yamana Gold stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Yamana Gold, Inc. (Symbol: AUY)
Amount:	$0.018 million
Maturity:	May 27, 2011
Coupon:	15%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Yamana Gold shares fall below the protection price of $8.36, 80% of the initial price, and finish below the initial price, in which case 95.6938 shares of Yamana Gold stock
Initial price:	$10.45
Protection price:	$8.36, 80% of $10.45
Exchange ratio:	95.6938
Pricing date:	May 25
Settlement date:	May 28
Agent:	JPMorgan
Cusip:	48124APV3

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