New Issue: JPMorgan prices $1.5 million 10.15% reverse convertibles linked to H&R Block

New York, June 4 - JPMorgan Chase & Co. priced $1.5 million of 10.15% reverse convertible notes due Dec. 7, 2010 linked to H&R Block, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless H&R Block shares fall below the protection price of $9.684, 60% of the initial price of $16.14, during the life of the notes and finish below the initial price in which case the payout will be 61.9579 shares of H&R Block stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	H&R Block, Inc. (Symbol: HRB)
Amount:	$1.5 million
Maturity:	Dec. 7, 2010
Coupon:	10.15%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless H&R Block shares fall below the protection price of $9.684, 60% of the initial price, and finish below the initial price, in which case 61.9579 shares of H&R Block stock
Initial price:	$16.14
Protection price:	$9.684, 60% of $16.14
Exchange ratio:	61.9579
Pricing date:	June 2
Settlement date:	June 7
Agent:	JPMorgan
Cusip:	48124ATD9

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