New Issue: JPMorgan prices $180,000 10% reverse convertibles linked to Goldman Sachs

By Jennifer Chiou

New York, Sept. 11 - JPMorgan Chase & Co. priced $180,000 of 10% annualized reverse convertible notes due Sept. 11, 2009 linked to Goldman Sachs Group, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par in cash unless Goldman Sachs shares fall by more than the 40% protection amount during the life of the notes and finish below the initial price, in which case a number of shares of Goldman Sachs stock equal to $1,000 divided by the initial price

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Goldman Sachs Group, Inc. (Symbol: GS)
Amount:	$180,000
Maturity:	Sept. 11, 2009
Coupon:	10%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Goldman Sachs shares fall by more than the 40% protection amount and finish below the initial price, in which case a number of shares of Goldman Sachs stock equal to $1,000 divided by the initial price
Initial price:	$161.67
Protection amount:	40% of the initial price
Pricing date:	Sept. 9
Settlement date:	Sept. 11
Agent:	JPMorgan
Fees:	5.331%, including 3.666% for selling concessions

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