JPMorgan plans daily observation knock-out notes on Hewlett-Packard

By Susanna Moon

Chicago, Jan. 25 - JPMorgan Chase & Co. plans to price 0% capped daily observation knock-out notes due Feb. 15, 2012 based on the performance of Hewlett-Packard Co. shares, according to an FWP with the Securities and Exchange Commission.

If Hewlett-Packard shares never fall by more than 20%, the payout at maturity will be par plus any gain, subject to a minimum return of 1.5% and a maximum return of at least 25%.

Otherwise, investors will receive par plus the stock return, capped at a maximum return of at least 25%. In this case, investors will be exposed to any losses.

The notes (Cusip 48125XCG9) will price on Jan. 28 and settle on Feb. 2.

J.P. Morgan Securities LLC is the agent.

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