JPMorgan plans dual directional buffered equity notes linked to Apple

By Toni Weeks

San Diego, March 20 - JPMorgan Chase & Co. plans to price 0% dual directional buffered equity notes due April 10, 2013 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.

If the final share price is greater than the initial price, the payout at maturity will be par plus the gain, up to a maximum return of at least 18.15%. The exact cap will be set at pricing.

If the share price falls by up to 20%, the payout will be par plus the absolute value of the return.

If the share price falls by more than 20%, investors will be fully exposed to the decline.

The notes (Cusip: 48125VSK7) will price on March 23 and settle on March 28.

J.P. Morgan Securities LLC is the agent.

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