New Issue: JPMorgan prices $85,000 9.5% reverse convertibles linked to Bank of America

New York, Nov. 30 - JPMorgan Chase & Co. priced $85,000 of 9.5% reverse convertible notes due May 31, 2012 linked to Bank of America Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Bank of America shares fall below the protection price of $7.808, 80% of the initial price of $9.76, during the life of the notes and finish below the initial price in which case the payout will be 102.459 shares of Bank of America stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Bank of America Corp. (Symbol: BAC)
Amount:	$85,000
Maturity:	May 31, 2012
Coupon:	9.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Bank of America shares fall below the protection price of $7.808, 80% of the initial price, and finish below the initial price, in which case 102.459 shares of Bank of America stock
Initial price:	$9.76
Protection price:	$7.808, 80% of $9.76
Exchange ratio:	102.459
Pricing date:	Nov. 28
Settlement date:	Nov. 30
Agent:	JPMorgan
Fees:	2.45%
Cusip:	48126DGF0

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