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JPMorgan to price 10.5% yield optimization notes linked to SanDisk
By Angela McDaniels
Tacoma, Wash., Nov. 1 - JPMorgan Chase & Co. plans to price yield optimization notes with contingent protection due Nov. 10, 2011 linked to the common stock of SanDisk Corp., according to an FWP filing with the Securities and Exchange Commission.
The coupon is expected to be at least 10.5% and will be set at pricing. Interest will be payable monthly.
The principal amount of each note will be equal to the price of SanDisk stock on the pricing date.
The payout at maturity will be par unless the final price of SanDisk stock is less than 75% of the initial share price, in which case the payout will be one SanDisk share per note.
The notes (Cusip 46634X724) are expected to price Nov. 5 and settle Nov. 10.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
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