JPMorgan to price 9%-10% callable yield notes linked to S&P 500, United States Oil Fund

By Angela McDaniels

Tacoma, Wash., June 7 - JPMorgan Chase & Co. plans to price callable yield notes due Dec. 16, 2010 linked to the S&P 500 index and United States Oil Fund, LP, according to an FWP filing with the Securities and Exchange Commission.

The notes will carry an annualized coupon of 9% to 10% that will be set at pricing. Interest will be payable monthly.

The notes are callable at par on Sept. 16, 2010.

The payout at maturity will be par unless either of the underlying components falls to or below 70% of its initial level during the life of the notes and the final level of either underlying component is less than its initial level, in which case investors will be exposed to the decline of the worst-performing component.

The notes will price June 11 and settle June 16.

J.P. Morgan Securities Inc. is the agent.

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