New Issue: JPMorgan prices $1.05 million single observation reverse exchangeables linked to BofA

By Jennifer Chiou

New York, June 7 - JPMorgan Chase & Co. priced $1.05 million of 10.8% single observation reverse exchangeable notes due June 10, 2013 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless the final share price is less than 50% of the initial share price, in which case the payout will be a number of BofA shares equal to $1,000 divided by the initial share price or, at the issuer's option, a cash amount equal to the value of those shares.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Single observation reverse exchangeable notes
Underlying stock:	Bank of America Corp. (Symbol: BAC)
Amount:	$1.05 million
Maturity:	June 10, 2013
Coupon:	10.8%, payable monthly
Price:	Par
Payout at maturity:	If final price of BofA stock has declined from initial price by more than protection amount, 140.8451 BofA shares or equivalent amount in cash; otherwise, par
Initial share price:	$7.10
Protection amount:	$3.55, 50% of initial price
Pricing date:	June 5
Settlement date:	June 10
Agent:	J.P. Morgan Securities LLC
Fees:	2.75%, including 2.25% for selling concessions
Cusip:	48125VF54

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