JPMorgan plans 8%-10.5% trigger yield optimization notes on Valero

By Angela McDaniels

Tacoma, Wash., June 11 - JPMorgan Chase & Co. plans to price 8% to 10.5% trigger yield optimization notes due June 20, 2013 linked to the common stock of Valero Energy Corp., according to an FWP filing with the Securities and Exchange Commission.

The exact coupon will be set at pricing. Interest will be payable monthly.

The face amount of each note will be equal to the initial price of Valero stock.

The payout at maturity will be par unless the final price of Valero stock is less than 65% of the initial share price, in which case investors will receive one Valero share per note.

The notes (Cusip: 48124B204) are expected to price June 14 and settle June 19.

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

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