JPM plans 8.75%-11.25% airbag yield optimization notes on Joy Global

By Jennifer Chiou

New York, Oct. 18 - JPMorgan Chase & Co. plans to price 8.75% to 11.25% annualized airbag yield optimization notes due April 26, 2012 linked to the common stock of Joy Global Inc., according to an FWP with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par in cash unless the final share price is less than the conversion price, in which case the payout will be a number of Joy Global shares equal to $1,000 divided by the conversion price. The conversion price is 70% of the initial share price.

The notes (Cusip: 46636T325) are expected to price on Oct. 20 and settle on Oct. 25.

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

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