New Issue: JPMorgan prices $0.62 million 9.5% reverse convertibles linked to CSX

New York, Feb. 26 - JPMorgan Chase & Co. priced $0.618 million of 9.5% reverse convertible notes due Feb. 28, 2011 linked to CSX Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless CSX shares fall by more than the protection amount of $9.40, 20% of the initial price of $47.00, during the life of the notes and finish below the initial price in which case the payout will be 21.2766 shares of CSX stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	CSX Corp. (Symbol: CSX)
Amount:	$0.618 million
Maturity:	Feb. 28, 2011
Coupon:	9.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless CSX shares fall more than the protection amount of $9.40, 20% of the initial price, and finish below the initial price, in which case 21.2766 shares of CSX stock
Initial price:	$47.00
Protection amount:	$9.40, 20% of $47.00
Exchange ratio:	21.2766
Pricing date:	Feb. 23
Settlement date:	Feb. 26
Agent:	JPMorgan
Fees:	2.625%
Cusip:	48124AGQ4

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