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JPMorgan plans 7%-9% trigger yield optimization notes on Cablevision
By Angela McDaniels
Tacoma, Wash., April 18 - JPMorgan Chase & Co. plans to price 7% to 9% trigger yield optimization notes due April 26, 2013 linked to the class A common stock of Cablevision Systems Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly. The exact coupon will be set at pricing.
The face amount of each note will be equal to the initial price of Cablevision stock.
The payout at maturity will be par unless the final price of Cablevision stock is less than 75% of the initial share price, in which case investors will receive one Cablevision share per note.
The notes (Cusip: 46637G819) are expected to price April 20 and settle April 25.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
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