JPMorgan plans trigger autocallable optimization notes linked to Hess

By Angela McDaniels

Tacoma, Wash., Jan. 6 - JPMorgan Chase & Co. plans to price 0% trigger autocallable optimization securities due Jan. 13, 2012 linked to the common stock of Hess Corp., according to an FWP filing with the Securities and Exchange Commission.

The notes will be automatically called at par of $10 plus an annualized call return of 14.5% to 17.5% if Hess shares close at or above the initial share price on any of 12 monthly observation dates. The exact call return will be set at pricing.

If the notes are not called and the final share price is greater than or equal to 80% of the initial share price, the payout at maturity will be par. Otherwise, the payout will be par plus the stock return.

The notes (Cusip: 46634X559) are expected to price Jan. 7 and settle Jan. 12.

UBS Financial Services Inc. and J.P. Morgan Securities LLC are the underwriters.

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