The payment at maturity, in excess of any accrued and unpaid interest, will be based on the performance of the applicable Reference Stock. Minimum denominations of $1,000 and integral multiples thereof. Our election, the Cash Value thereof), in each case, together with any accrued and unpaid interest, as described below. Payment at maturity for each $1,000 principal amount note will be either a cash payment of $1,000 or delivery of shares of the applicable Reference Stock (or, at Instead, the payment at maturity will be based on whether the Final Share Price of the applicable Reference Stock is less than the applicable Initial Share Price by more than the applicable Protection Amount asĪny payment on the notes is subject to the credit risk of JPMorgan Chase & Co. However, the notes do not guarantee any return Investing in the notes is not equivalent to investing in the shares of an issuer of any of the Reference Stocks.Įach issue of offered notes will pay interest monthly at the fixed rate specified for that issue below. Investors should be willing to forgo the potential to participate in the appreciation of the applicable Reference Stock, be willing toĪccept the risks of owning the common stock of the applicable Reference Stock issuer, and be willing to lose some or all of their principal at maturity. The notes are designed for investors who seek an interest rate that is higher than the current dividend yield on the applicable Reference Stock or the yield on aĬonventional debt security with the same maturity issued by us or an issuer with a comparable credit rating. This pricing supplement does not, however, allow you to purchase a note linked to a basket of some or all of the Reference Stocks

Participate in any of the three (3) note offerings or, at your election, in two or more of the offerings. Each issue of offered notes is linked to one, and only one, Reference Stock. This pricing supplement relates to three (3) separate note offerings. Single Observation Reverse Exchangeable Notes due April 19, 2012Įach Linked to the Common Stock of a Different Single Reference Stock Issuer Prospectus supplement dated November 21, 2008 and

Title of Each Class of Securities Offered

Commercial series cps r05.0952