JPMorgan plans autocallable reverse exchangeables on Freeport-McMoRan

By Toni Weeks

San Luis Obispo, Calif., Feb. 25 - JPMorgan Chase & Co. plans to price 9% upside autocallable single observation reverse exchangeable notes due Feb. 27, 2014 linked to the common stock of Freeport-McMoRan Copper & Gold Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par plus accrued interest if Freeport-McMoRan stock closes at or above the initial share price on any of three quarterly call dates.

The payout at maturity will be par unless the final share price is less than the initial share price by more than 25%, in which case 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: 48126DYH6) are expected to price Feb. 26 and settle Feb. 28.

J.P. Morgan Securities LLC is the agent.

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