New Issue: JPMorgan prices $0.171 million 10.00% reverse convertibles linked to Verizon Communications

New York, Jan. 29 - JPMorgan Chase & Co. priced $0.171 million of 10.00% reverse convertible notes due Jan. 29, 2010 linked to Verizon Communications Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Verizon Communications shares fall below the protection price of $11.984, 40% of the initial price of $29.96, during the life of the notes and finish below the initial price in which case the payout will be 33.3778 shares of Verizon Communications stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Verizon Communications Inc. (Symbol: VZ)
Amount:	$0.171 million
Maturity:	Jan. 29, 2010
Coupon:	10.00%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Verizon Communications shares fall below the protection price of $11.984, 40% of the initial price, and finish below the initial price, in which case 33.3778 shares of Verizon Communications stock
Initial price:	$29.96
Protection price:	$11.984, 40% of $29.96
Exchange ratio:	33.3778
Pricing date:	Jan. 27
Settlement date:	Jan. 30
Agent:	JPMorgan
Fees:	2.74%

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