JPMorgan plans trigger autocallable securities on Cummins via UBS

By Jennifer Chiou

New York, Dec. 15 - JPMorgan Chase & Co. plans to price 0% trigger autocallable optimization securities due Dec. 24, 2012 linked to the common stock of Cummins Inc., according to an FWP with the Securities and Exchange Commission.

If Cummins shares close at or above the initial share price on any quarterly observation date, the notes will be called at par plus an annualized call premium of 22% to 24%. The exact call premium will be determined at pricing.

If the notes are not called and the final share price is greater than or equal to 50% of the initial price, the payout at maturity will be par. Otherwise, investors will share fully in losses.

The notes (Cusip: 48126B764) are expected to price on Dec. 16 and settle on Dec. 21.

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

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