JPMorgan to price trigger phoenix autocallables linked to Dell

By Angela McDaniels

Tacoma, Wash., Feb. 23 - JPMorgan Chase & Co. plans to price trigger phoenix autocallable optimization securities due Feb. 28, 2013 linked to the common stock of Dell Inc., according to an FWP filing with the Securities and Exchange Commission.

If Dell stock closes at or above the trigger price, 75% of the initial share price, on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at the rate of 8.5% to 11% per year. Otherwise, no coupon will be paid that quarter. The exact contingent coupon rate will be set at pricing.

If the shares close at or above the initial price on a quarterly observation date, the notes will be called at par of $10 plus the contingent coupon.

If the notes are not called and Dell shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.

The notes (Cusip: 48126B277) are expected to price Feb. 27 and settle Feb. 29.

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

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