New Issue: JPMorgan prices $335,000 8.5% reverse convertibles linked to Yahoo

New York, Jan. 12 - JPMorgan Chase & Co. priced $335,000 of 8.5% reverse convertible notes due Oct. 14, 2011 linked to Yahoo! Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Yahoo shares fall below the protection price of $13.114, 79% of the initial price of $16.60, during the life of the notes and finish below the initial price in which case the payout will be 60.241 shares of Yahoo stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Yahoo! Inc. (Symbol: YHOO)
Amount:	$335,000
Maturity:	Oct. 14, 2011
Coupon:	8.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Yahoo shares fall below the protection price of $13.114, 79% of the initial price, and finish below the initial price, in which case 60.241 shares of Yahoo stock
Initial price:	$16.60
Protection price:	$13.114, 79% of $16.60
Exchange ratio:	60.241
Pricing date:	Jan. 10
Settlement date:	Jan. 13
Agent:	JPMorgan
Fees:	3.7%, including 2.5% for selling concessions
Cusip:	48125XAR7

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