New Issue: JPMorgan prices $990,000 7.55% reverse exchangeables linked to Tesoro

New York, Oct. 3 - JPMorgan Chase & Co. priced $990,000 of 7.55% reverse exchangeable notes due April 7, 2015 linked to Tesoro Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Tesoro shares fall below the protection price of $46.0125, 75% of the initial price of $61.35, during the life of the notes and finish below the initial price in which case the payout will be 16.2999 shares of Tesoro stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse exchangeable notes
Underlying stock:	Tesoro Corp. (Symbol: TSO)
Amount:	$990,000
Maturity:	April 7, 2015
Coupon:	7.55%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Tesoro shares fall below the protection price of $46.0125, 75% of the initial price, and finish below the initial price, in which case 16.2999 shares of Tesoro stock
Initial price:	$61.35
Protection price:	$46.0125, 75% of $61.35
Exchange ratio:	16.2999
Pricing date:	Oct. 1
Settlement date:	Oct. 6
Agent:	JPMorgan
Fees:	1.75%
Cusip:	48127DJ66

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