New Issue: JPMorgan prices $274,000 10.25% reverse convertibles linked to Schlumberger

New York, Jan. 31 - JPMorgan Chase & Co. priced $274,000 of 10.25% reverse convertible notes due July 31, 2012 linked to Schlumberger N.V. (Schlumberger Ltd.) shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Schlumberger shares fall below the protection price of $61.328, 80% of the initial price of $76.66, during the life of the notes and finish below the initial price in which case the payout will be 13.0446 shares of Schlumberger stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Schlumberger N.V. (Schlumberger Ltd.) (Symbol: SLB)
Amount:	$274,000
Maturity:	July 31, 2012
Coupon:	10.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Schlumberger shares fall below the protection price of $61.328, 80% of the initial price, and finish below the initial price, in which case 13.0446 shares of Schlumberger stock
Initial price:	$76.66
Protection price:	$61.328, 80% of $76.66
Exchange ratio:	13.0446
Pricing date:	Jan. 27
Settlement date:	Jan. 31
Agent:	JPMorgan
Fees:	1.98%
Cusip:	48125VKL3

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