New Issue: JPMorgan prices $1.56 million 15.9% reverse convertibles linked to Joy Global

New York, May 24 - JPMorgan Chase & Co. priced $1.563 million of 15.9% reverse convertible notes due Nov. 27, 2013 linked to Joy Global Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Joy Global shares fall below the protection price of $42.615, 75% of the initial price of $56.82, during the life of the notes and finish below the initial price in which case the payout will be 17.5994 shares of Joy Global stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Joy Global Inc. (Symbol: JOY)
Amount:	$1.563 million
Maturity:	Nov. 27, 2013
Coupon:	15.9%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Joy Global shares fall below the protection price of $42.615, 75% of the initial price, and finish below the initial price, in which case 17.5994 shares of Joy Global stock
Initial price:	$56.82
Protection price:	$42.615, 75% of $56.82
Exchange ratio:	17.5994
Pricing date:	May 22
Settlement date:	May 28
Agent:	JPMorgan
Cusip:	48126NAK3

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