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JPMorgan plans 10%-12.5% trigger yield notes tied to Freeport-McMoRan
By Toni Weeks
San Diego, Aug. 24 - JPMorgan Chase & Co. plans to price 10% to 12.5% annualized trigger yield optimization notes due Feb. 29, 2012 linked to the common stock of Freeport-McMoRan Copper & Gold Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The face amount of each note will be equal to the initial price of Freeport-McMoRan stock.
The payout at maturity will be par unless the final price of Freeport-McMoRan stock is less than 60% of the initial share price, in which case investors will receive one Freeport-McMoRan share per note.
The notes (Cusip: 46636T796) are expected to price Aug. 29 and settle Aug. 31.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the underwriters.
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