New Issue: JPMorgan prices $3.72 million trigger autocallable notes linked to Lorillard via UBS

By Toni Weeks

San Diego, June 21 - JPMorgan Chase & Co. priced $3.72 million of 0% trigger autocallable optimization securities due June 21, 2012 linked to the common stock of Lorillard, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If Lorillard shares close at or above the initial share price on any monthly observation date, the notes will be called at par plus an annualized call premium of 26.31%.

If the notes are not called and the final share price is greater than or equal to 65% of the initial price, the payout at maturity will be par. Otherwise, investors will share fully in losses.

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

Issuer:	JPMorgan Chase & Co.
Issue:	Trigger autocallable optimization securities
Underlying stock:	Lorillard, Inc. (NYSE: LO)
Amount:	$3,722,500
Maturity:	June 21, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	If final share price greater than or equal to $72.37, par; otherwise, full exposure to losses
Initial price:	$111.34
Trigger price:	$72.37, 65% of initial
Call option:	Par plus 26.31% per year if share price closes at or above the initial price on any monthly observation date
Pricing date:	June 17
Settlement date:	June 22
Agents:	UBS Financial Services Inc. and J.P. Morgan Securities LLC
Fees:	1.25%
Cusip:	46634X161

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