New Issue: JPMorgan prices $0.26 million 11.25% reverse convertibles linked to Peabody Energy

New York, March 16 - JPMorgan Chase & Co. priced $0.264 million of 11.25% reverse convertible notes due March 17, 2011 linked to Peabody Energy Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Peabody Energy shares fall below the protection price of $38.952, 80% of the initial price of $48.69, during the life of the notes and finish below the initial price in which case the payout will be 20.5381 shares of Peabody Energy stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Peabody Energy Corp. (Symbol: BTU)
Amount:	$0.264 million
Maturity:	March 17, 2011
Coupon:	11.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Peabody Energy shares fall below the protection price of $38.952, 80% of the initial price, and finish below the initial price, in which case 20.5381 shares of Peabody Energy stock
Initial price:	$48.69
Protection price:	$38.952, 80% of $48.69
Exchange ratio:	20.5381
Pricing date:	March 12
Settlement date:	March 17
Agent:	JPMorgan
Fees:	3.125%
Cusip:	48124AJL2

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