New Issue: JPMorgan prices $877,000 13.35% reverse convertibles linked to Sprint Nextel

New York, Nov. 29 - JPMorgan Chase & Co. priced $877,000 of 13.35% reverse convertible notes due Feb. 28, 2011 linked to Sprint Nextel Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Sprint Nextel shares fall below the protection price of $3.08, 80% of the initial price of $3.85, during the life of the notes and finish below the initial price in which case the payout will be 259.7403 shares of Sprint Nextel stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Sprint Nextel Corp. (Symbol: S)
Amount:	$877,000
Maturity:	Feb. 28, 2011
Coupon:	13.35%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Sprint Nextel shares fall below the protection price of $3.08, 80% of the initial price, and finish below the initial price, in which case 259.7403 shares of Sprint Nextel stock
Initial price:	$3.85
Protection price:	$3.08, 80% of $3.85
Exchange ratio:	259.7403
Pricing date:	Nov. 23
Settlement date:	Nov. 30
Agent:	JPMorgan
Cusip:	48124AY68

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