New Issue: JPMorgan prices $115,000 10.75% reverse exchangeables linked to Whirlpool

New York, July 18 - JPMorgan Chase & Co. priced $115,000 of 10.75% reverse exchangeable notes due July 18, 2014 linked to Whirlpool Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Whirlpool shares fall below the protection price of $96.864, 80% of the initial price of $121.08, during the life of the notes and finish below the initial price in which case the payout will be 8.259 shares of Whirlpool stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse exchangeable notes
Underlying stock:	Whirlpool Corp. (Symbol: WHR)
Amount:	$115,000
Maturity:	July 18, 2014
Coupon:	10.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Whirlpool shares fall below the protection price of $96.864, 80% of the initial price, and finish below the initial price, in which case 8.259 shares of Whirlpool stock
Initial price:	$121.08
Protection price:	$96.864, 80% of $121.08
Exchange ratio:	8.259
Pricing date:	July 16
Settlement date:	July 19
Agent:	JPMorgan
Cusip:	48126NJF5

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