JPMorgan to price 12%-16% reverse exchangeables linked to Halliburton

By Toni Weeks

San Diego, March 1 - JPMorgan Chase & Co. plans to price reverse exchangeable notes due Sept. 19, 2011 linked to the common stock of Halliburton Co., according to an FWP filing with the Securities and Exchange Commission.

The six-month notes carry an annualized coupon of 12% to 16%. The exact coupon will be set at pricing. Interest is payable monthly.

The payout at maturity will be par unless Halliburton shares close below the initial price by more than 25% during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of Halliburton 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: 48125XGL4) will price on March 15 and settle on March 18.

J.P. Morgan Securities LLC is the agent.

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