New Issue: JPMorgan prices $196,000 21.75% reverse convertibles linked to LDK Solar

New York, May 31 - JPMorgan Chase & Co. priced $196,000 of 21.75% reverse convertible notes due Aug. 30, 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 $4.627, 70% of the initial price of $6.61, during the life of the notes and finish below the initial price in which case the payout will be 151.2859 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:	$196,000
Maturity:	Aug. 30, 2011
Coupon:	21.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless LDK Solar shares fall below the protection price of $4.627, 70% of the initial price, and finish below the initial price, in which case 151.2859 shares of LDK Solar stock
Initial price:	$6.61
Protection price:	$4.627, 70% of $6.61
Exchange ratio:	151.2859
Pricing date:	May 26
Settlement date:	May 31
Agent:	JPMorgan
Cusip:	48125XRY4

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