New Issue: JPMorgan prices $0.287 million 27% reverse convertibles linked to Bank of America

New York, Oct. 30 - JPMorgan Chase & Co. priced $0.287 million of 27% reverse convertible notes due Jan. 30, 2009 linked to Bank of America Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Bank of America shares fall below the protection price, 40% of the initial price of $23.02, during the life of the notes and finish below the initial price in which case the payout will be Bank of America shares equal to $1,000 principal amount divided by the initial price.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Bank of America Corp. (Symbol: BAC)
Amount:	$0.287 million
Maturity:	Jan. 30, 2009
Coupon:	27%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Bank of America shares fall below the protection price, 40% of the initial price, and finish below the initial price, in which case Bank of America shares equal to $1,000 principal amount divided by the initial price
Initial price:	$23.02
Pricing date:	Oct. 28
Settlement date:	Oct. 31
Agent:	JPMorgan

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