New Issue: JPMorgan prices $1 million 9% reverse exchangeables linked to Palo Alto

New York, March 10 - JPMorgan Chase & Co. priced $1 million of 9% reverse exchangeable notes due June 11, 2014 linked to Palo Alto Networks, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Palo Alto shares fall below the protection price of $40.5, 58.2902% of the initial price of $69.48, during the life of the notes and finish below the initial price in which case the payout will be 14.3926 shares of Palo Alto stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse exchangeable notes
Underlying stock:	Palo Alto Networks, Inc. (Symbol: PANW)
Amount:	$1 million
Maturity:	June 11, 2014
Coupon:	9%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Palo Alto shares fall below the protection price of $40.5, 58.2902% of the initial price, and finish below the initial price, in which case 14.3926 shares of Palo Alto stock
Initial price:	$69.48
Protection price:	$40.5, 58.2902% of $69.48
Exchange ratio:	14.3926
Pricing date:	March 6
Settlement date:	March 11
Agent:	JPMorgan
Fees:	1.25%
Cusip:	48127DBD9

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