New Issue: JPMorgan prices $0.61 million 17% reverse convertibles linked to Wynn Resorts

New York, Feb. 26 - JPMorgan Chase & Co. priced $0.607 million of 17% reverse convertible notes due May 27, 2010 linked to Wynn Resorts, Ltd. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Wynn Resorts shares fall by more than the protection amount of $12.736, 20% of the initial price of $63.68, during the life of the notes and finish below the initial price in which case the payout will be 15.7035 shares of Wynn Resorts stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Wynn Resorts, Ltd. (Symbol: WYNN)
Amount:	$0.607 million
Maturity:	May 27, 2010
Coupon:	17%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Wynn Resorts shares fall more than the protection amount of $12.736, 20% of the initial price, and finish below the initial price, in which case 15.7035 shares of Wynn Resorts stock
Initial price:	$63.68
Protection amount:	$12.736, 20% of $63.68
Exchange ratio:	15.7035
Pricing date:	Feb. 23
Settlement date:	Feb. 26
Agent:	JPMorgan
Fees:	1.76%

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