JPMorgan plans autocallable optimization securities tied to SanDisk

By Jennifer Chiou

New York, Dec. 9 - JPMorgan Chase & Co. plans to price 0% autocallable optimization securities with contingent protection due Dec. 22, 2011 linked to the common stock of SanDisk Corp., according to an FWP with the Securities and Exchange Commission.

If SanDisk stock closes above the initial share price on any of 12 monthly observation dates, the notes will be called and investors will receive par of $10 plus an annualized return of 24% to 28%. The exact call return will be set at pricing.

If the notes are not called and the price of SanDisk stock finishes at or above 70% of the initial share price, the payout at maturity will be par. Otherwise, investors will receive par plus the share price return.

The notes (Cusip: 46634E122) are expected to price on Dec. 15 and settle on Dec. 21.

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

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