New Issue: JPMorgan prices $146,000 11% reverse convertibles linked to Hewlett-Packard

New York, June 28 - JPMorgan Chase & Co. priced $146,000 of 11% reverse convertible notes due June 27, 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 $19.208, 80% of the initial price of $24.01, during the life of the notes and finish below the initial price in which case the payout will be 41.6493 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:	$146,000
Maturity:	June 27, 2014
Coupon:	11%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Hewlett-Packard shares fall below the protection price of $19.208, 80% of the initial price, and finish below the initial price, in which case 41.6493 shares of Hewlett-Packard stock
Initial price:	$24.01
Protection price:	$19.208, 80% of $24.01
Exchange ratio:	41.6493
Pricing date:	June 26
Settlement date:	June 28
Agent:	JPMorgan
Cusip:	48126NFR3

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