New Issue: JPMorgan prices $196,000 14.25% reverse convertibles linked to Molycorp

New York, April 17 - JPMorgan Chase & Co. priced $196,000 of 14.25% reverse convertible notes due July 18, 2012 linked to Molycorp, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Molycorp shares fall below the protection price of $24.54, 75% of the initial price of $32.72, during the life of the notes and finish below the initial price in which case the payout will be 30.5623 shares of Molycorp stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Molycorp, Inc. (Symbol: MCP)
Amount:	$196,000
Maturity:	July 18, 2012
Coupon:	14.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Molycorp shares fall below the protection price of $24.54, 75% of the initial price, and finish below the initial price, in which case 30.5623 shares of Molycorp stock
Initial price:	$32.72
Protection price:	$24.54, 75% of $32.72
Exchange ratio:	30.5623
Pricing date:	April 13
Settlement date:	April 18
Agent:	JPMorgan
Fees:	2.89%
Cusip:	48125VUV0

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