JPMorgan to price 8%-10.5% yield optimization notes linked to Hess via UBS

By Angela McDaniels

Tacoma, Wash., June 8 - JPMorgan Chase & Co. plans to price 8% to 10.5% yield optimization notes with contingent protection due June 22, 2011 linked to the common stock of Hess Corp., according to an FWP filing with the Securities and Exchange Commission.

The face value of each note will equal the closing price of one Hess share on the pricing date.

Interest will be payable monthly.

The payout at maturity will be par unless the final price of Hess stock is less than 75% of the initial price, in which case investors will receive one Hess share.

The notes are expected to price June 16 and settle June 21.

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

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