New Issue: JPMorgan prices $0.175 million 14% reverse convertibles linked to Yahoo

New York, Sept. 4 - JPMorgan Chase & Co. priced $0.175 million of 14% reverse convertible notes due March 5, 2009 linked to Yahoo!

Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Yahoo shares fall below the protection price of $11.25, 60% of the initial price of $18.75, during the life of the notes and finish below the initial price in which case the payout will be 53.3333 shares of Yahoo stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Yahoo!
Inc. (Symbol: YHOO)
Amount:	$0.175 million
Maturity:	March 5, 2009
Coupon:	14%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Yahoo shares fall below the protection price of $11.25, 60% of the initial price, and finish below the initial price, in which case 53.3333 shares of Yahoo stock
Initial price:	$18.75
Protection price:	$11.25, 60% of $18.75
Exchange ratio:	53.3333
Pricing date:	Sept. 2
Settlement date:	Sept. 5
Agent:	JPMorgan
Fees:	1.5%

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