New Issue: JPMorgan prices $210,000 15.25% reverse convertibles linked to Baidu

New York, Aug. 1 - JPMorgan Chase & Co. priced $210,000 of 15.25% reverse convertible notes due Jan. 31, 2012 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 $128.992, 80% of the initial price of $161.24, during the life of the notes and finish below the initial price in which case the payout will be 6.2019 shares of Baidu stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Baidu, Inc. (ADS) (Symbol: BIDU)
Amount:	$210,000
Maturity:	Jan. 31, 2012
Coupon:	15.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Baidu shares fall below the protection price of $128.992, 80% of the initial price, and finish below the initial price, in which case 6.2019 shares of Baidu stock
Initial price:	$161.24
Protection price:	$128.992, 80% of $161.24
Exchange ratio:	6.2019
Pricing date:	July 27
Settlement date:	July 29
Agent:	JPMorgan
Cusip:	48125XZR0

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