New Issue: JPMorgan prices $318,000 13% reverse convertibles linked to Baidu

New York, May 17 - JPMorgan Chase & Co. priced $318,000 of 13% reverse convertible notes due Nov. 18, 2011 linked to Baidu, Inc. (ADS) shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Baidu shares fall below the protection price of $105.024, 80% of the initial price of $131.28, during the life of the notes and finish below the initial price in which case the payout will be 7.6173 shares of Baidu stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Baidu, Inc. (ADS) (Symbol: BIDU)
Amount:	$318,000
Maturity:	Nov. 18, 2011
Coupon:	13%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Baidu shares fall below the protection price of $105.024, 80% of the initial price, and finish below the initial price, in which case 7.6173 shares of Baidu stock
Initial price:	$131.28
Protection price:	$105.024, 80% of $131.28
Exchange ratio:	7.6173
Pricing date:	May 13
Settlement date:	May 18
Agent:	JPMorgan
Cusip:	48125XPR1

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