New Issue: JPMorgan prices $60,000 11% reverse convertibles linked to Hewlett-Packard

New York, Sept. 30 - JPMorgan Chase & Co. priced $60,000 of 11% reverse convertible notes due Sept. 29, 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 $21.30, 80% of the initial price of $21.30, during the life of the notes and finish below the initial price in which case the payout will be Hewlett-Packard shares equal to $1,000 principal amount divided by the initial price.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Hewlett-Packard Co. (Symbol: HPQ)
Amount:	$60,000
Maturity:	Sept. 29, 2014
Coupon:	11%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Hewlett-Packard shares fall below the protection price of $21.30, 80% of the initial price, and finish below the initial price, in which case Hewlett-Packard shares equal to $1,000 principal amount divided by the initial price
Initial price:	$21.30
Protection price:	$21.30, 80% of $21.30
Pricing date:	Sept. 26
Settlement date:	Sept. 30
Agent:	JPMorgan

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