New Issue: JPMorgan prices $1.416 million 19% reverse convertibles linked to Bank of America

New York, June 11 - JPMorgan Chase & Co. priced $1.416 million of 19% reverse convertible notes due June 15, 2010 linked to Bank of America Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Bank of America shares fall below the protection price of $5.99, 50% of the initial price of $11.98, during the life of the notes and finish below the initial price in which case the payout will be 83.4725 shares of Bank of America stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Bank of America Corp. (Symbol: BAC)
Amount:	$1.416 million
Maturity:	June 15, 2010
Coupon:	19%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Bank of America shares fall below the protection price of $5.99, 50% of the initial price, and finish below the initial price, in which case 83.4725 shares of Bank of America stock
Initial price:	$11.98
Protection price:	$5.99, 50% of $11.98
Exchange ratio:	83.4725
Pricing date:	June 10
Settlement date:	June 15
Agent:	JPMorgan
Fees:	3.31%

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