JPMorgan amends maturity for upside autocallable reverse exchangeables tied to Freeport-McMoRan

By Toni Weeks

San Diego, March 14 - JPMorgan Chase & Co. amended the maturity date for its upcoming upside autocallable single observation reverse exchangeable notes linked to the common stock of Freeport-McMoRan Copper & Gold Inc. to March 23, 2012 from March 26, 2012, according to an FWP filing with the Securities and Exchange Commission.

The one-year notes will carry an annualized coupon of at least 13.15%. The exact coupon will be set at pricing. Interest is payable monthly.

If Freeport-McMoRan shares close above the initial share price on any of four quarterly call dates, the notes will be called at par.

If the notes are not called and the final share price is at least 80% of the initial price, the payout at maturity will be par. Otherwise, the payout will be a number of Freeport-McMoRan shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, a cash amount equal to the value of those shares.

The notes (Cusip: 48125XJN7) will price on March 22 and settle on March 25.

J.P. Morgan Securities LLC is the agent.

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