New Issue: JPMorgan prices $1.01 million 10.25% reverse convertibles linked to Apple

New York, April 26 - JPMorgan Chase & Co. priced $1.013 million of 10.25% reverse convertible notes due Oct. 29, 2013 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Apple shares fall below the protection price of $304.245, 75% of the initial price of $405.66, during the life of the notes and finish below the initial price in which case the payout will be 2.4651 shares of Apple stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Apple Inc. (Symbol: AAPL)
Amount:	$1.013 million
Maturity:	Oct. 29, 2013
Coupon:	10.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Apple shares fall below the protection price of $304.245, 75% of the initial price, and finish below the initial price, in which case 2.4651 shares of Apple stock
Initial price:	$405.66
Protection price:	$304.245, 75% of $405.66
Exchange ratio:	2.4651
Pricing date:	April 24
Settlement date:	April 29
Agent:	JPMorgan
Fees:	1%
Cusip:	48126DQ44

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