JPM plans 9.25% upside auto callable reverse exchangeables on Ford

By Jennifer Chiou

New York, Jan. 4 - JPMorgan Chase & Co. plans to price upside auto callable single observation reverse exchangeable notes due Jan. 20, 2012 linked to the common stock of Ford Motor Co., according to an FWP with the Securities and Exchange Commission.

The coupon will be at least 9.25% and will be set at pricing. Interest will be payable monthly.

The notes will be called at par if Ford stock closes above the initial share price on April 18, July 18, 2011, Oct. 18, 2011 or Jan. 17, 2012.

The payout at maturity will be par unless the final share price is less than 80% of the initial share price, in which case the payout will be a number of Ford shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, a cash amount equal to the value of those shares.

The notes (Cusip: 48124A6T9) are expected to price on Jan. 18 and settle on Jan. 21.

J.P. Morgan Securities LLC is the agent.

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