New Issue: JPMorgan prices $400,000 9.35% reverse convertibles linked to Chesapeake Energy

New York, Jan. 30 - JPMorgan Chase & Co. priced $400,000 of 9.35% reverse convertible notes due May 2, 2013 linked to Chesapeake Energy Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Chesapeake Energy shares fall below the protection price of $14.1975, 75% of the initial price of $18.93, during the life of the notes and finish below the initial price in which case the payout will be 52.8262 shares of Chesapeake Energy stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Chesapeake Energy Corp. (Symbol: CHK)
Amount:	$400,000
Maturity:	May 2, 2013
Coupon:	9.35%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Chesapeake Energy shares fall below the protection price of $14.1975, 75% of the initial price, and finish below the initial price, in which case 52.8262 shares of Chesapeake Energy stock
Initial price:	$18.93
Protection price:	$14.1975, 75% of $18.93
Exchange ratio:	52.8262
Pricing date:	Jan. 28
Settlement date:	Jan. 31
Agent:	JPMorgan
Cusip:	48126DTJ8

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