JPMorgan to sell buffered equity notes tied to PowerShares QQQ Trust

By Susanna Moon

Chicago, March 15 - JPMorgan Chase & Co. plans to price 0% buffered equity notes due April 9, 2012 based on the PowerShares QQQ Trust, series 1, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any gain on the fund, up to a maximum return of 20.5% to 25.5%. The exact cap will be set at pricing.

Investors will receive par if the fund falls by up to 15% and will lose 1% for each 1% drop beyond the buffer.

The notes are expected to price on April 6 and settle on April 9.

J.P. Morgan Securities Inc. will be the agent.

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