New Issue: JPMorgan prices $547,000 9% callable yield notes linked to Russell, Gold Miners ETF

By Toni Weeks

San Diego, Nov. 15 - JPMorgan Chase & Co. priced $547,000 of 9% annualized callable yield notes due May 16, 2012 linked to the Russell 2000 index and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless either underlying component closes below 50% of its initial level during the life of the notes and the final level is less than the initial level, in which case investors will receive par plus the return of the worst-performing underlying component.

The notes will be callable at par on any interest payment date.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Callable yield notes
Underlying components:	Russell 2000 index and Market Vectors Gold Miners exchange-traded fund
Amount:	$547,000
Maturity:	May 16, 2012
Coupon:	9%, payable monthly
Price:	Par
Payout at maturity:	Par, unless either component falls below 50% of its initial level during life of notes and final level is less than initial level, in which case par plus return of worst-performing component
Initial levels:	725.5 for Russell, $60.17 for gold fund
Protection amount:	362.75 for Russell, $30.085 for gold fund; 50% of initial levels
Call option:	At par on any monthly interest payment date
Pricing date:	Nov. 10
Settlement date:	Nov. 16
Agent:	J.P. Morgan Securities LLC
Fees:	3.2%, including 2.25% for selling concessions
Cusip:	48125VCX6

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