New Issue: JPMorgan prices $3 million 12% yield optimization notes on VMWare via UBS

By Jennifer Chiou

New York, June 10 - JPMorgan Chase & Co. priced $3 million of 12% yield optimization notes with contingent protection due June 14, 2011 linked to the common stock of VMWare, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each note has a face value of $66.82, which is equal to the closing price of VMWare stock on the pricing date.

Interest is payable monthly.

The payout at maturity will be par unless the final price of VMWare stock is less than 70% of the initial share price, in which case the payout will be one share of VMWare stock.

UBS Financial Services Inc. and J.P. Morgan Securities Inc. are the underwriters.

Issuer:	JPMorgan Chase & Co.
Issue:	Yield optimization notes with contingent protection
Underlying stock:	VMWare, Inc. (Symbol: VMW)
Amount:	$2,999,950.72
Maturity:	June 14, 2011
Coupon:	12%, payable monthly
Price:	Par of $66.82
Payout at maturity:	If final share price is less than trigger price, one VMWare share; otherwise, par
Initial share price:	$66.82
Trigger price:	$46.78, 70% of initial price
Pricing date:	June 8
Settlement date:	June 11
Underwriters:	UBS Financial Services Inc. and J.P. Morgan Securities Inc.
Fees:	2%
Cusip:	46634E296

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