JPMorgan plans autocallable contingent interest notes on Wells Fargo

By Jennifer Chiou

New York, March 13 - JPMorgan Chase & Co. plans to price autocallable contingent interest notes due April 4, 2013 linked to the common stock of Wells Fargo & Co., according to an FWP with the Securities and Exchange Commission.

If the stock closes at or above the 70% trigger level on any review date, the notes will pay a coupon that quarter at an annualized rate of 12.6%.

If the stock closes at or above the initial share price on any review date other than other than the final review date, the notes will be called at par plus the coupon.

If the notes have not been called and the stock finishes at or above the trigger level, the payout at maturity will be par plus the coupon.

Otherwise, investors will be fully exposed to any losses.

The notes (Cusip: 48125VRQ5) are expected to price on March 16 and settle on March 21.

J.P. Morgan Securities LLC is the underwriter.

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