New Issue: JPMorgan prices $0.51 million 25.1% reverse convertibles linked to Stone Energy

New York, May 25 - JPMorgan Chase & Co. priced $0.507 million of 25.1% reverse convertible notes due Aug. 26, 2010 linked to Stone Energy Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Stone Energy shares fall below the protection price of $8.4435, 65% of the initial price of $12.99, during the life of the notes and finish below the initial price in which case the payout will be 76.98229 shares of Stone Energy stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Stone Energy Corp. (Symbol: SGY)
Amount:	$0.507 million
Maturity:	Aug. 26, 2010
Coupon:	25.1%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Stone Energy shares fall below the protection price of $8.4435, 65% of the initial price, and finish below the initial price, in which case 76.98229 shares of Stone Energy stock
Initial price:	$12.99
Protection price:	$8.4435, 65% of $12.99
Exchange ratio:	76.98229
Pricing date:	May 21
Settlement date:	May 26
Agent:	JPMorgan
Cusip:	48124ARX7

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