New Issue: JPMorgan prices $1.48 million 12% reverse convertibles linked to Schlumberger

New York, Jan. 18 - JPMorgan Chase & Co. priced $1.475 million of 12% reverse convertible notes due July 19, 2012 linked to Schlumberger N.V. (Schlumberger Ltd.) shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Schlumberger shares fall below the protection price of $54.392, 80% of the initial price of $67.99, during the life of the notes and finish below the initial price in which case the payout will be 14.7080 shares of Schlumberger stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Schlumberger N.V. (Schlumberger Ltd.) (Symbol: SLB)
Amount:	$1.475 million
Maturity:	July 19, 2012
Coupon:	12%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Schlumberger shares fall below the protection price of $54.392, 80% of the initial price, and finish below the initial price, in which case 14.7080 shares of Schlumberger stock
Initial price:	$67.99
Protection price:	$54.392, 80% of $67.99
Exchange ratio:	14.7080
Pricing date:	Jan. 13
Settlement date:	Jan. 19
Agent:	JPMorgan
Fees:	2.623%
Cusip:	48125VHY9

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