New Issue: JPMorgan prices $1.03 million 16.7% reverse convertibles linked to Clean Energy

New York, May 26 - JPMorgan Chase & Co. priced $1.033 million of 16.7% reverse convertible notes due Aug. 31, 2011 linked to Clean Energy Fuels Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Clean Energy shares fall below the protection price of $9.653, 70% of the initial price of $13.79, during the life of the notes and finish below the initial price in which case the payout will be 72.5163 shares of Clean Energy stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Clean Energy Fuels Corp. (Symbol: CLNE)
Amount:	$1.033 million
Maturity:	Aug. 31, 2011
Coupon:	16.7%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Clean Energy shares fall below the protection price of $9.653, 70% of the initial price, and finish below the initial price, in which case 72.5163 shares of Clean Energy stock
Initial price:	$13.79
Protection price:	$9.653, 70% of $13.79
Exchange ratio:	72.5163
Pricing date:	May 24
Settlement date:	May 31
Agent:	JPMorgan
Fees:	2.25%, including 1.5% for selling concessions
Cusip:	48125XSZ0

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