JPMorgan plans autocallable optimization notes on Merck stock via UBS

By Marisa Wong

Milwaukee, May 4 - JPMorgan Chase & Co. plans to price 0% autocallable optimization securities with contingent protection due May 16, 2011 linked to the common stock of Merck & Co., according to an FWP filing with the Securities and Exchange Commission.

If the fund closes above its initial share price on any of 12 monthly observation dates, the notes will be called and investors will receive par of $10 plus an annualized return of 16% to 20% that will be set at pricing.

If the notes are not called and the final share price is at least 80% of the initial share price, the payout at maturity will be par. Otherwise, investors will receive par plus the share price return.

The notes are expected to price May 11 and settle May 14.

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

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