New Issue: JPMorgan prices $0.154 million 14% reverse convertibles linked to Monsanto

New York, Jan. 16 - JPMorgan Chase & Co. priced $0.154 million of 14% reverse convertible notes due July 20, 2009 linked to Monsanto Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Monsanto shares fall below the protection price of $31.376, 40% of the initial price of $78.44, during the life of the notes and finish below the initial price in which case the payout will be 12.7486 shares of Monsanto stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Monsanto Co. (Symbol: MON)
Amount:	$0.154 million
Maturity:	July 20, 2009
Coupon:	14%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Monsanto shares fall below the protection price of $31.376, 40% of the initial price, and finish below the initial price, in which case 12.7486 shares of Monsanto stock
Initial price:	$78.44
Protection price:	$31.376, 40% of $78.44
Exchange ratio:	12.7486
Pricing date:	Jan. 15
Settlement date:	Jan. 20
Agent:	JPMorgan
Fees:	3.75%

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