New Issue: JPMorgan prices $50,000 10% reverse convertibles linked to Hewlett-Packard

New York, June 18 - JPMorgan Chase & Co. priced $50,000 of 10% reverse convertible notes due June 18, 2014 linked to Hewlett-Packard Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Hewlett-Packard shares fall below the protection price of $19.792, 80% of the initial price of $24.74, during the life of the notes and finish below the initial price in which case the payout will be 40.4204 shares of Hewlett-Packard stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Hewlett-Packard Co. (Symbol: HPQ)
Amount:	$50,000
Maturity:	June 18, 2014
Coupon:	10%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Hewlett-Packard shares fall below the protection price of $19.792, 80% of the initial price, and finish below the initial price, in which case 40.4204 shares of Hewlett-Packard stock
Initial price:	$24.74
Protection price:	$19.792, 80% of $24.74
Exchange ratio:	40.4204
Pricing date:	June 14
Settlement date:	June 19
Agent:	JPMorgan
Cusip:	48126NDT1

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