JPMorgan plans 6%-7.5% airbag yield optimization notes tied to Valeant

By Susanna Moon

Chicago, Nov. 21 - JPMorgan Chase & Co. plans to price 6% to 7.5% airbag yield optimization notes due Nov. 28, 2014 linked to Valeant Pharmaceuticals International, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

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 Valeant shares equal to $1,000 divided by the conversion price. The conversion price is 80% of the initial share price.

J.P. Morgan Securities LLC is the agent with UBS Financial Services Inc. as dealer.

The notes will price on Nov. 26 and settle on Nov. 29.

The Cusip number is 48127A740.

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