New Issue: JPMorgan sells $3.38 million trigger autocallable securities on Cummins

By Marisa Wong

Madison, Wis., Dec. 20 - JPMorgan Chase & Co. priced $3.38 million of 0% trigger autocallable optimization securities due Dec. 24, 2012 linked to the common stock of Cummins Inc., according to a 424B2 with the Securities and Exchange Commission.

If Cummins shares close at or above the initial share price on any quarterly observation date, the notes will be called at par plus an annualized call premium of 24%.

If the notes are not called and the final share price is greater than or equal to 50% of the initial price, the payout at maturity will be par. Otherwise, investors will share fully in losses.

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

Issuer:	JPMorgan Chase & Co.
Issue:	Trigger autocallable optimization securities
Underlying stock:	Cummins Inc. (NYSE: CMI)
Amount:	$3,379,500
Maturity:	Dec. 24, 2012
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	If Cummins shares finish at or above trigger price, par; otherwise, par plus stock return
Call:	At par plus premium of 24% per year if Cummins stock closes at or above initial share price on any of four quarterly observation dates
Initial share price:	$87.30
Trigger price:	$43.65, 50% of initial share price
Pricing date:	Dec. 16
Settlement date:	Dec. 21
Agents:	UBS Financial Services Inc. and J.P. Morgan Securities LLC
Fees:	1.5%
Cusip:	48126B764

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