New Issue: JPMorgan prices $593,000 8.25% reverse convertibles linked to Hess

New York, Sept. 21 - JPMorgan Chase & Co. priced $593,000 of 8.25% reverse convertible notes due March 22, 2013 linked to Hess Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Hess shares fall below the protection price of $35.815, 65% of the initial price of $55.10, during the life of the notes and finish below the initial price in which case the payout will be 18.1488 shares of Hess stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Hess Corp. (Symbol: HES)
Amount:	$593,000
Maturity:	March 22, 2013
Coupon:	8.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Hess shares fall below the protection price of $35.815, 65% of the initial price, and finish below the initial price, in which case 18.1488 shares of Hess stock
Initial price:	$55.10
Protection price:	$35.815, 65% of $55.10
Exchange ratio:	18.1488
Pricing date:	Sept. 19
Settlement date:	Sept. 24
Agent:	JPMorgan
Fees:	0.65%
Cusip:	48125V5U0

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