New Issue: JPMorgan prices $789,000 14.25% reverse convertibles linked to Silver Wheaton

New York, Nov. 28 - JPMorgan Chase & Co. priced $789,000 of 14.25% reverse convertible notes due Feb. 29, 2012 linked to Silver Wheaton Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Silver Wheaton shares fall below the protection price of $22.624, 70% of the initial price of $32.32, during the life of the notes and finish below the initial price in which case the payout will be 30.9406 shares of Silver Wheaton stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Silver Wheaton Corp. (Symbol: SLW)
Amount:	$789,000
Maturity:	Feb. 29, 2012
Coupon:	14.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Silver Wheaton shares fall below the protection price of $22.624, 70% of the initial price, and finish below the initial price, in which case 30.9406 shares of Silver Wheaton stock
Initial price:	$32.32
Protection price:	$22.624, 70% of $32.32
Exchange ratio:	30.9406
Pricing date:	Nov. 22
Settlement date:	Nov. 30
Agent:	JPMorgan
Fees:	2.475%
Cusip:	48125VCE8

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