New Issue: JPMorgan sells $4.72 million trigger autocallable optimization securities on Hess

By Marisa Wong

Madison, Wis., March 16 - JPMorgan Chase & Co. priced $4.72 million of 0% trigger autocallable optimization securities due March 21, 2012 linked to the common stock of Hess Corp., according to a 424B2 filing with the Securities and Exchange Commission.

If Hess stock closes at or above the initial share price on any of 12 monthly observation dates, the notes will be called at par of $10 plus an annualized call return of 23.3%.

The payout at maturity will be par if Hess stock finishes at or above 80% of the initial share price. Otherwise, investors will be exposed to the decline in the share price.

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

Issuer:	JPMorgan Chase & Co.
Issue:	Trigger autocallable optimization securities
Underlying stock:	Hess Corp.
Amount:	$4,715,890
Maturity:	March 21, 2012
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	If Hess stock finishes at or above trigger price, par; otherwise, par plus stock return
Call:	At par plus premium of 23.3% per year if Hess stock closes at or above initial share price on any of 12 monthly observation dates
Initial share price:	$79.35
Trigger price:	$63.48, 80% of initial price
Pricing date:	March 14
Settlement date:	March 17
Underwriters:	UBS Financial Services Inc. and J.P. Morgan Securities LLC
Fees:	1.25%
Cusip:	46634X310

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