JPMorgan plans capped daily observation knock-out notes on Starbucks

By Susanna Moon

Chicago, July 19 - JPMorgan Chase & Co. plans to price 0% capped daily observation knock-out notes due Aug. 8, 2012 linked to Starbucks Corp. shares, according to an FWP with the Securities and Exchange Commission.

If Starbucks shares ever fall by more than 27.5% during the life of the notes, the payout at maturity will be par plus the return, with exposure to losses.

Otherwise, the payout will be par plus the greater of the stock return and the contingent minimum return, which will be at least 12%.

The maximum payout at maturity will be at least $1,150 per $1,000 principal amount.

The exact contingent minimum and maximum return will be set at pricing.

J.P. Morgan Securities LLC is the agent.

The notes will price on July 22 and settle on July 27.

The Cusip number is 48125XZA7.

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