New Issue: JPMorgan prices $2.56 million 19.5% reverse convertibles linked to Ldk Solar

New York, April 28 - JPMorgan Chase & Co. priced $2.556 million of 19.5% reverse convertible notes due July 29, 2011 linked to Ldk Solar Co., Ltd. (Ads) shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Ldk Solar shares fall below the protection price of $7.994, 70% of the initial price of $11.42, during the life of the notes and finish below the initial price in which case the payout will be 87.5657 shares of Ldk Solar stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Ldk Solar Co., Ltd. (Ads) (Symbol: LDK)
Amount:	$2.556 million
Maturity:	July 29, 2011
Coupon:	19.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Ldk Solar shares fall below the protection price of $7.994, 70% of the initial price, and finish below the initial price, in which case 87.5657 shares of Ldk Solar stock
Initial price:	$11.42
Protection price:	$7.994, 70% of $11.42
Exchange ratio:	87.5657
Pricing date:	April 26
Settlement date:	April 29
Agent:	JPMorgan
Cusip:	48125XLY0

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