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Published on 11/22/2010 in the Prospect News Structured Products Daily.

JPMorgan plans 9%-11.75% yield optimization notes on Macy's via UBS

By Susanna Moon

Chicago, Nov. 22 - JPMorgan Chase & Co. plans to price 9% to 11.75% annualized yield optimization notes with contingent protection due May 31, 2011 based on the common stock of Macy's, Inc., according to an FWP with the Securities and Exchange Commission.

Interest is payable monthly.

Each note will have face value equal to the closing price of Macy's stock on the pricing date.

The payout at maturity will be par unless the stock finishes below 75% of the initial share price, in which case the payout will be one share of Macy's stock per note.

The notes (Cusip 46634X666) will price on Nov. 24 and settle on Nov. 30.

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


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