New Issue: JPMorgan prices $1 million 14.75% reverse convertibles linked to OmniVision Technologies

New York, Feb. 17 - JPMorgan Chase & Co. priced $1 million of 14.75% reverse convertible notes due May 19, 2011 linked to OmniVision Technologies, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless OmniVision Technologies shares fall below the protection price of $19.02, 69.4161% of the initial price of $27.40, during the life of the notes and finish below the initial price in which case the payout will be 36.4964 shares of OmniVision Technologies stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	OmniVision Technologies, Inc. (Symbol: OVTI)
Amount:	$1 million
Maturity:	May 19, 2011
Coupon:	14.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless OmniVision Technologies shares fall below the protection price of $19.02, 69.4161% of the initial price, and finish below the initial price, in which case 36.4964 shares of OmniVision Technologies stock
Initial price:	$27.40
Protection price:	$19.02, 69.4161% of $27.40
Exchange ratio:	36.4964
Pricing date:	Feb. 15
Settlement date:	Feb. 18
Agent:	JPMorgan
Fees:	1.5%
Cusip:	48125XEX0

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