New Issue: JPMorgan prices $565,000 14.6% reverse convertibles linked to Hecla Mining

New York, March 15 - JPMorgan Chase & Co. priced $565,000 of 14.6% reverse convertible notes due June 19, 2012 linked to Hecla Mining Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Hecla Mining shares fall below the protection price of $3.409, 70% of the initial price of $4.87, during the life of the notes and finish below the initial price in which case the payout will be 205.3388 shares of Hecla Mining stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Hecla Mining Co. (Symbol: HL)
Amount:	$565,000
Maturity:	June 19, 2012
Coupon:	14.6%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Hecla Mining shares fall below the protection price of $3.409, 70% of the initial price, and finish below the initial price, in which case 205.3388 shares of Hecla Mining stock
Initial price:	$4.87
Protection price:	$3.409, 70% of $4.87
Exchange ratio:	205.3388
Pricing date:	March 13
Settlement date:	March 19
Agent:	JPMorgan
Fees:	2.35%, including 1.5% for selling concessions
Cusip:	48125VRT9

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