JPMorgan plans contingent absolute return notes on Bank of America

By Susanna Moon

Chicago, March 6 - JPMorgan Chase & Co. plans to price 0% contingent absolute return autocallable optimization securities due March 14, 2014 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 of $10 plus an annualized call premium of 8% to 10.5% 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 stock finishes at or above the 75% trigger level, the payout at maturity will be par plus the absolute value of the stock 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 March 8 and settle on March 13.

The Cusip number is 48124B626.

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