JPMorgan plans 8%-10.2% airbag yield optimization notes on Newcastle

By Angela McDaniels

Tacoma, Wash., July 24 - JPMorgan Chase & Co. plans to price 8% to 10.2% annualized airbag yield optimization notes due Jan. 31, 2014 linked to the common stock of Newcastle Investment Corp., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact interest rate will be set at pricing.

The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Newcastle shares equal to $1,000 divided by the conversion price. The conversion price will be 80% of the initial share price.

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

The notes will price July 29 and settle July 31.

The Cusip number is 48126H712.

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