New Issue: JPMorgan prices $1 million 9.4% reverse convertibles linked to Swift Transportation

New York, July 8 - JPMorgan Chase & Co. priced $1 million of 9.4% reverse convertible notes due Oct. 8, 2013 linked to Swift Transportation Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Swift Transportation shares fall below the protection price of $10.85, 68.1961% of the initial price of $15.91, during the life of the notes and finish below the initial price in which case the payout will be 62.8536 shares of Swift Transportation stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Swift Transportation Co. (Symbol: SWFT)
Amount:	$1 million
Maturity:	Oct. 8, 2013
Coupon:	9.4%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Swift Transportation shares fall below the protection price of $10.85, 68.1961% of the initial price, and finish below the initial price, in which case 62.8536 shares of Swift Transportation stock
Initial price:	$15.91
Protection price:	$10.85, 68.1961% of $15.91
Exchange ratio:	62.8536
Pricing date:	July 3
Settlement date:	July 9
Agent:	JPMorgan
Fees:	1%
Cusip:	48126NJH1

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