JPMorgan plans 10% upside autocallable reverse exchangeables on Ford

By Marisa Wong

Madison, Wis., March 23 - JPMorgan Chase & Co. plans to price upside autocallable reverse exchangeable notes due Sept. 29, 2011 linked to the common stock of Ford Motor Co., according to an FWP filing with the Securities and Exchange Commission.

The coupon will be at least 10% per year 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 June 24.

The payout at maturity will be par unless Ford stock closes below 75% of the initial share price on any day during the life of the notes and finishes below the initial 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: 48125XKK1) are expected to price March 24 and settle March 29.

J.P. Morgan Securities LLC is the agent.

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