New Issue: JPMorgan prices $155,000 10% reverse convertibles linked to Schlumberger

New York, May 31 - JPMorgan Chase & Co. priced $155,000 of 10% reverse convertible notes due May 31, 2013 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 $53.792, 80% of the initial price of $67.24, during the life of the notes and finish below the initial price in which case the payout will be 14.8721 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:	$155,000
Maturity:	May 31, 2013
Coupon:	10%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Schlumberger shares fall below the protection price of $53.792, 80% of the initial price, and finish below the initial price, in which case 14.8721 shares of Schlumberger stock
Initial price:	$67.24
Protection price:	$53.792, 80% of $67.24
Exchange ratio:	14.8721
Pricing date:	May 29
Settlement date:	May 31
Agent:	JPMorgan
Fees:	2.995%
Cusip:	48125VZN3

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