New Issue: JPMorgan prices $0.759 million 40% reverse convertibles linked to Wells Fargo

New York, March 19 - JPMorgan Chase & Co. priced $0.759 million of 40% reverse convertible notes due June 23, 2009 linked to Wells Fargo & Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Wells Fargo shares fall below the protection price of $8.61, 50% of the initial price of $17.22, during the life of the notes and finish below the initial price in which case the payout will be 58.072 shares of Wells Fargo stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Wells Fargo & Co. (Symbol: WFC)
Amount:	$0.759 million
Maturity:	June 23, 2009
Coupon:	40%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Wells Fargo shares fall below the protection price of $8.61, 50% of the initial price, and finish below the initial price, in which case 58.072 shares of Wells Fargo stock
Initial price:	$17.22
Protection price:	$8.61, 50% of $17.22
Exchange ratio:	58.072
Pricing date:	March 18
Settlement date:	March 23
Agent:	JPMorgan
Fees:	2.5%

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