JPMorgan plans daily observation knock-out notes linked to Oracle

By Toni Weeks

San Diego, Aug. 2 - JPMorgan Chase & Co. plans to price 0% capped daily observation knock-out notes due Aug. 22, 2012 linked to Oracle Corp. shares, according to an FWP filing with the Securities and Exchange Commission.

If the price of Oracle stock falls by more than 25% during the life of the notes, the payout at maturity will be par plus the stock return, with exposure to any losses.

Otherwise, the payout will be par plus the greater of the stock return and a contingent minimum return of at least 10%.

The maximum payment at maturity in either case will be $1,250 per $1,000 principal amount of notes.

The exact terms will be set at pricing.

The notes (Cusip: 48125XE85) are expected to price Aug. 5 and settle Aug. 10.

J.P. Morgan Securities LLC is the agent.

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