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JPMorgan plans contingent absolute return autocallables on Micron Technology
By Susanna Moon
Chicago, April 23 - JPMorgan Chase & Co. plans to price 0% contingent absolute return autocallable optimization securities due May 2, 2014 linked to Micron Technology Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call premium of 10% to 13% if Micron Technology shares close at or above the initial share price on any quarterly observation date. The exact call return will be set at pricing.
If the notes are not called and the final share price is at or above the 60% trigger level, the payout at maturity will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
The notes are expected to price on April 26 and settle on April 30.
The Cusip number is 48124B386.
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