New Issue: JPMorgan prices $25,000 18% reverse exchangeables linked to Research In Motion

By Angela McDaniels

Tacoma, Wash., June 28 - JPMorgan Chase & Co. priced $25,000 of reverse exchangeable notes due Dec. 31, 2013 linked to the common stock of Research In Motion Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes carry an annualized coupon of 18%. Interest is payable monthly.

The payout at maturity will be par unless Research In Motion stock falls by more than 35% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Research In Motion shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, a cash amount equal to the value of those shares.

J.P. Morgan Securities Inc. is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse exchangeable notes
Underlying stock:	Research In Motion Ltd. (Symbol: BBRY)
Amount:	$25,000
Maturity:	Dec. 31, 2013
Coupon:	18%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Research In Motion shares fall by more than buffer amount during life of notes and finish below initial price, in which case 67.069 shares of Research In Motion stock
Initial price:	$14.91
Buffer amount:	$5.2185, 35% of initial share price
Pricing date:	June 26
Settlement date:	June 28
Agent:	J.P. Morgan Securities Inc.
Fees:	2.88%
Cusip:	48126NFP7

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