JPMorgan plans 12% reverse exchangeable notes linked to 3D Systems

By Marisa Wong

Madison, Wis., Oct. 31 - JPMorgan Chase & Co. plans to price reverse exchangeable notes due Feb. 13, 2014 linked to the common stock of 3D Systems Corp., according to an FWP filing with the Securities and Exchange Commission.

Interest is payable quarterly. The exact rate will be set at pricing and will be at least 12% per year.

The payout at maturity will be par in cash unless 3D Systems stock finishes below the strike price and closes below the strike price by more than 29% on any day during the life of the notes, in which case investors will receive 17.7462 shares of 3D Systems stock per $1,000 note. The strike price is $56.35, which is the average of the per share price of some intraday trades of 3D Systems stock on Oct. 29.

J.P. Morgan Securities LLC is the agent.

The notes will price on Nov. 6 and settle on Nov. 13.

The Cusip number is 48126NZN0.

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