New Issue: JPMorgan prices $0.22 million 13.25% reverse convertibles linked to Yamana Gold

New York, March 30 - JPMorgan Chase & Co. priced $0.215 million of 13.25% reverse convertible notes due March 31, 2011 linked to Yamana Gold, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Yamana Gold shares fall below the protection price of $7.88, 80% of the initial price of $9.85, during the life of the notes and finish below the initial price in which case the payout will be 101.5228 shares of Yamana Gold stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Yamana Gold, Inc. (Symbol: AUY)
Amount:	$0.215 million
Maturity:	March 31, 2011
Coupon:	13.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Yamana Gold shares fall below the protection price of $7.88, 80% of the initial price, and finish below the initial price, in which case 101.5228 shares of Yamana Gold stock
Initial price:	$9.85
Protection price:	$7.88, 80% of $9.85
Exchange ratio:	101.5228
Pricing date:	March 26
Settlement date:	March 31
Agent:	JPMorgan
Fees:	3.325%
Cusip:	48124AKL0

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