New Issue: JPMorgan prices $0.2 million 14% reverse convertibles linked to Wells Fargo

New York, July 13 - JPMorgan Chase & Co. priced $0.195 million of 14% reverse convertible notes due July 15, 2010 linked to Wells Fargo & Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Wells Fargo shares fall below the protection price of $9.148, 60% of the initial price of $22.87, during the life of the notes and finish below the initial price in which case the payout will be 43.7254 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:	$0.195 million
Maturity:	July 15, 2010
Coupon:	14%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Wells Fargo shares fall below the protection price of $9.148, 60% of the initial price, and finish below the initial price, in which case 43.7254 shares of Wells Fargo stock
Initial price:	$22.87
Protection price:	$9.148, 60% of $22.87
Exchange ratio:	43.7254
Pricing date:	July 10
Settlement date:	July 15
Agent:	JPMorgan
Fees:	6%

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