JPMorgan plans to sell Bear Market PLUS linked to S&P 500 index

By Susanna Moon

Chicago, Nov. 30 - JPMorgan Chase & Co. plans to sell 0% Bear Market Performance Leveraged Upside Securities due Jan. 31, 2011 linked inversely to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10.00 plus triple the absolute value of any decline in the index, up to a maximum payout of $11.40 to $11.80 per note.

If the index gains, the payout will be par minus the gain, up to a loss of 80%. Investors will receive at least $2.00 per note.

The notes will price and settle in December.

J.P. Morgan Securities Inc. is the agent. It will allow selling concessions to Morgan Stanley Smith Barney LLC.

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