New Issue: JPMorgan prices $63,000 9% reverse exchangeables linked to Morgan Stanley

New York, July 18 - JPMorgan Chase & Co. priced $63,000 of 9% reverse exchangeable notes due July 18, 2014 linked to Morgan Stanley shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Morgan Stanley shares fall below the protection price of $21.104, 80% of the initial price of $26.38, during the life of the notes and finish below the initial price in which case the payout will be 37.9075 shares of Morgan Stanley stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse exchangeable notes
Underlying stock:	Morgan Stanley (Symbol: MS)
Amount:	$63,000
Maturity:	July 18, 2014
Coupon:	9%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Morgan Stanley shares fall below the protection price of $21.104, 80% of the initial price, and finish below the initial price, in which case 37.9075 shares of Morgan Stanley stock
Initial price:	$26.38
Protection price:	$21.104, 80% of $26.38
Exchange ratio:	37.9075
Pricing date:	July 16
Settlement date:	July 19
Agent:	JPMorgan
Cusip:	48126NJD0

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