New Issue: JPMorgan prices $0.148 million 15% reverse convertibles linked to Transocean

New York, March 30 - JPMorgan Chase & Co. priced $0.148 million of 15% reverse convertible notes due Sept. 30, 2009 linked to Transocean Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Transocean shares fall below the protection price, 40% of the initial price of $63.98, during the life of the notes and finish below the initial price in which case the payout will be Transocean shares equal to $1,000 principal amount divided by the initial price.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Transocean Inc. (Symbol: RIG)
Amount:	$0.148 million
Maturity:	Sept. 30, 2009
Coupon:	15%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Transocean shares fall below the protection price, 40% of the initial price, and finish below the initial price, in which case Transocean shares equal to $1,000 principal amount divided by the initial price
Initial price:	$63.98
Pricing date:	March 26
Settlement date:	March 31
Agent:	JPMorgan

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