JPMorgan plans to price quarterly review notes linked to copper

By Angela McDaniels

Tacoma, Wash., Sept. 16 - JPMorgan Chase & Co. plans to price 0% quarterly review notes due Sept. 30, 2010 linked to the price of copper, according to an FWP filing with the Securities and Exchange Commission.

The notes will be automatically called if the price of copper on any of four quarterly review dates is greater than or equal to the starting price of copper. The redemption amount will be par plus an annualized call premium of 26.5%.

The review dates are Dec. 28, 2009, March 29, 2010, June 28, 2010 and Sept. 27, 2010.

If the notes are not called, the payout at maturity will be par as long as the final price of copper is at least 85% of the starting copper price. Otherwise, investors will be fully exposed to the decline.

The notes will price Sept. 18 and settle Sept. 23.

J.P. Morgan Securities Inc. is the agent.

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