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JPM plans 10.25%-12.75% trigger yield optimization notes on Rio Tinto
By Jennifer Chiou
New York, Nov. 15 - JPMorgan Chase & Co. plans to price 10.25% to 12.75% trigger yield optimization notes due Nov. 26, 2012 linked to the American Depositary Shares of Rio Tinto plc, according to an FWP with the Securities and Exchange Commission.
Interest will be payable monthly. The exact coupon will be set at pricing.
The face amount of each note will be equal to the ADS price of Rio Tinto.
The payout at maturity will be par unless the final ADS price of Rio Tinto is less than 70% of the initial ADS price, in which case investors will receive one Rio Tinto ADS per note.
The notes (Cusip: 46636T119) are expected to price on Nov. 18 and settle on Nov. 23.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the underwriters.
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