JPMorgan plans one-year contingent income autocallables on MetLife

By Toni Weeks

San Diego, Nov. 20 - JPMorgan Chase & Co. plans to price contingent income autocallable securities due Nov. 29, 2013 linked to the common stock of MetLife, Inc., according to an FWP filing with the Securities and Exchange Commission.

If MetLife stock closes at or above the 80% downside threshold level on a quarterly determination date, the notes will pay a contingent payment of $0.375 to $0.45 per $10 note. The exact contingent payment will be set at pricing.

If the stock closes at or above the initial share price on any of the first three quarterly determination dates, the notes will be automatically redeemed at par plus the contingent payment.

If the notes are not called and MetLife shares finish at or above the downside threshold level, the payout at maturity will be par plus the contingent payment.

Otherwise, investors will be fully exposed to any losses.

J.P. Morgan Securities LLC is the agent.

The notes will price Nov. 27 and settle three business days later.

The Cusip number is 48126E461.

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