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JPMorgan plans 9%-11.5% trigger yield optimization notes tied to Hess
By Angela McDaniels
Tacoma, Wash., Dec. 7 - JPMorgan Chase & Co. plans to price 9% to 11.5% trigger yield optimization notes due Dec. 14, 2012 linked to the common stock of Hess Corp., according to an FWP filing with the Securities and Exchange Commission.
The exact coupon will be set at pricing. Interest will be payable monthly.
The face amount of each note will be equal to the initial price of Hess stock.
The payout at maturity will be par unless the final price of Hess stock is less than 70% of the initial share price, in which case investors will receive one Hess share per note.
The notes (Cusip: 48126B814) are expected to price Dec. 9 and settle Dec. 14.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
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