JPMorgan plans dual directional buffered equity notes linked to Apple

By Angela McDaniels

Tacoma, Wash., July 17 - JPMorgan Chase & Co. plans to price 0% capped dual directional buffered equity notes due Aug. 7, 2013 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.

If the final share price is greater than the initial price, the payout at maturity will be par plus the gain, up to a maximum return of at least 20%. The exact cap will be set at pricing.

If the final share price is less than the initial share price by up to 21.35%, the payout will be par plus the absolute value of the stock return.

If the final share price is less than the initial share price by more than 21.35%, investors will be fully exposed to the decline.

The notes are expected to price July 20 and settle July 25.

J.P. Morgan Securities LLC is the agent.

The Cusip number is 48125VS84.

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