New Issue: JPMorgan prices $230,000 14.25% reverse convertibles linked to Las Vegas Sands

New York, Dec. 30 - JPMorgan Chase & Co. priced $230,000 of 14.25% reverse convertible notes due March 30, 2012 linked to Las Vegas Sands Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Las Vegas Sands shares fall below the protection price of $31.80, 75% of the initial price of $42.40, during the life of the notes and finish below the initial price in which case the payout will be 23.5849 shares of Las Vegas Sands stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Las Vegas Sands Corp. (Symbol: LVS)
Amount:	$230,000
Maturity:	March 30, 2012
Coupon:	14.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Las Vegas Sands shares fall below the protection price of $31.80, 75% of the initial price, and finish below the initial price, in which case 23.5849 shares of Las Vegas Sands stock
Initial price:	$42.40
Protection price:	$31.80, 75% of $42.40
Exchange ratio:	23.5849
Pricing date:	Dec. 28
Settlement date:	Dec. 30
Agent:	JPMorgan
Fees:	1.9%
Cusip:	48125VEX4

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