New Issue: JPMorgan prices $600,000 17.85% reverse exchangeables linked to Zillow

New York, April 17 - JPMorgan Chase & Co. priced $600,000 of 17.85% reverse exchangeable notes due Oct. 20, 2014 linked to Zillow, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Zillow shares fall below the protection price of $54.336, 60% of the initial price of $90.56, during the life of the notes and finish below the initial price in which case the payout will be 11.0424 shares of Zillow stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse exchangeable notes
Underlying stock:	Zillow, Inc. (Symbol: Z)
Amount:	$600,000
Maturity:	Oct. 20, 2014
Coupon:	17.85%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Zillow shares fall below the protection price of $54.336, 60% of the initial price, and finish below the initial price, in which case 11.0424 shares of Zillow stock
Initial price:	$90.56
Protection price:	$54.336, 60% of $90.56
Exchange ratio:	11.0424
Pricing date:	April 15
Settlement date:	April 23
Agent:	JPMorgan
Fees:	1%
Cusip:	48127DFK9

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