New Issue: JPMorgan prices $0.75 million 13.6% reverse convertibles linked to Goldman Sachs

New York, May 25 - JPMorgan Chase & Co. priced $0.75 million of 13.6% reverse convertible notes due May 26, 2011 linked to Goldman Sachs Group shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Goldman Sachs shares fall below the protection price of $84.372, 60% of the initial price of $140.62, during the life of the notes and finish below the initial price in which case the payout will be 7.1114 shares of Goldman Sachs stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Goldman Sachs Group (Symbol: GS)
Amount:	$0.75 million
Maturity:	May 26, 2011
Coupon:	13.6%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Goldman Sachs shares fall below the protection price of $84.372, 60% of the initial price, and finish below the initial price, in which case 7.1114 shares of Goldman Sachs stock
Initial price:	$140.62
Protection price:	$84.372, 60% of $140.62
Exchange ratio:	7.1114
Pricing date:	May 21
Settlement date:	May 26
Agent:	JPMorgan
Fees:	2%, including 1% for selling concessions
Cusip:	48124ART6

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