New Issue: JPMorgan prices $208,000 11.25% reverse exchangeables linked to Hewlett-Packard

New York, July 18 - JPMorgan Chase & Co. priced $208,000 of 11.25% reverse exchangeable notes due Jan. 22, 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 $21.16, 80% of the initial price of $26.45, during the life of the notes and finish below the initial price in which case the payout will be 37.8072 shares of Hewlett-Packard stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse exchangeable notes
Underlying stock:	Hewlett-Packard Co. (Symbol: HPQ)
Amount:	$208,000
Maturity:	Jan. 22, 2014
Coupon:	11.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Hewlett-Packard shares fall below the protection price of $21.16, 80% of the initial price, and finish below the initial price, in which case 37.8072 shares of Hewlett-Packard stock
Initial price:	$26.45
Protection price:	$21.16, 80% of $26.45
Exchange ratio:	37.8072
Pricing date:	July 16
Settlement date:	July 19
Agent:	JPMorgan
Cusip:	48126NJA6

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