JPMorgan plans absolute return autocallables on Bank of America

By Toni Weeks

San Diego, Nov. 5 - JPMorgan Chase & Co. plans to price 0% contingent absolute return autocallable optimization securities due Nov. 18, 2013 linked to Bank of America Corp. 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 8% to 11% if Bank of America stock closes at or above the initial share price on any quarterly observation date. The exact call premium will be set at pricing.

If the notes are not called and the final share price is at or above the 70% 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.

The notes (Cusip: 48124B865) will price Nov. 9 and settle Nov. 15.

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

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