JPMorgan plans trigger phoenix autocallable notes linked to ING Groep

By Susanna Moon

Chicago, Oct. 3 - JPMorgan Chase & Co. plans to price trigger phoenix autocallable optimization securities due April 10, 2015 linked to Bearer Depositary Receipts of ING Groep NV, according to an FWP with the Securities and Exchange Commission.

If ING Groep shares close at or above the trigger price - 75% of the initial share price - on a quarterly observation date, the notes will pay a contingent coupon at an annual rate of 10% to 12% for that quarter. The exact contingent quarterly coupon will be set at pricing.

If the shares close at or above the initial price on any quarterly observation date, the notes will be called at par of $10 plus the contingent coupon.

If the notes are not called and ING Groep shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be fully exposed to losses.

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

The notes will price on Oct. 4 and settle on Oct. 10.

The Cusip number is 48126H233.

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