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JPMorgan plans 10%-12.75% yield optimization notes on MetLife via UBS
By Susanna Moon
Chicago, June 22 - JPMorgan Chase & Co. plans to price 10% to 12.75% annualized yield optimization notes with contingent protection due Dec. 31, 2010 linked to the common stock of MetLife Inc., according to an FWP filing with the Securities and Exchange Commission.
The face value of each note will equal the closing price of one MetLife share on the pricing date.
Interest will be payable monthly.
The payout at maturity will be par unless the final price of MetLife stock is less than 75% of the initial price, in which case investors will receive one MetLife share.
The notes are expected to price on June 28 and settle on June 30.
UBS Financial Services Inc. and J.P. Morgan Securities Inc. are the agents.
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