JPMorgan plans trigger callable optimization notes on Cigna via UBS

By Susanna Moon

Chicago, Jan. 26 - JPMorgan Chase & Co. plans to price 0% trigger autocallable optimization securities due Feb. 3, 2012 based on the performance of Cigna Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par of $10 plus an annualized call return of 13.5% to 16.5% if Cigna shares close at or above the initial share price on any of 12 monthly observation dates. The exact call return will be set at pricing.

The payout at maturity will be par if Cigna stock finishes at or above the trigger price, 80% of the initial share price.

Otherwise, the payout will be par plus the stock return with exposure to any losses.

The notes (cusip 46634X427) will price on Jan. 27 and settle on Jan. 31.

UBS Financial Services Inc. and J.P. Morgan Securities LLC are the underwriters.

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