New Issue: JPMorgan prices $40,000 9% reverse convertibles linked to Yamana Gold

New York, March 30 - JPMorgan Chase & Co. priced $40,000 of 9% reverse convertible notes due March 30, 2012 linked to Yamana Gold Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Yamana Gold shares fall below the protection price of $9.696, 80% of the initial price of $12.12, during the life of the notes and finish below the initial price in which case the payout will be 82.5083 shares of Yamana Gold stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Yamana Gold Inc. (Symbol: AUY)
Amount:	$40,000
Maturity:	March 30, 2012
Coupon:	9%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Yamana Gold shares fall below the protection price of $9.696, 80% of the initial price, and finish below the initial price, in which case 82.5083 shares of Yamana Gold stock
Initial price:	$12.12
Protection price:	$9.696, 80% of $12.12
Exchange ratio:	82.5083
Pricing date:	March 28
Settlement date:	March 31
Agent:	JPMorgan
Cusip:	48125XJF4

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