New Issue: JPMorgan prices $568,000 18.85% reverse convertibles linked to lululemon

By Angela McDaniels

Tacoma, Wash., March 30 - JPMorgan Chase & Co. priced $568,000 of 18.85% annualized reverse convertible notes due June 30, 20211 linked to the common stock of lululemon athletica inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par in cash unless lululemon shares fall below 80% of the initial share price during the life of the notes and finish below the initial price, in which case the payout will be a number of shares of lululemon stock equal to $1,000 divided by the initial share price.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	lululemon athletica inc. (Symbol: LULU)
Amount:	$568,000
Maturity:	June 30, 2011
Coupon:	18.85%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless lululemon shares fall below protection price during life of notes and finish below initial price, in which case 11.73021 shares of lululemon stock
Initial price:	$85.25
Protection price:	$68.20, 80% of initial share price
Pricing date:	March 28
Settlement date:	March 31
Agent:	J.P. Morgan Securities LLC
Fees:	2.25%, including 1.75% for selling concessions
Cusip:	48125XHN9

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