JPMorgan plans yield optimization notes tied to Dow Chemical via UBS

By E. Janene Geiss

Philadelphia, Nov. 17 - JPMorgan Chase & Co. plans to price yield optimization notes with contingent protection due Feb. 26, 2010 linked to the common stock of the Dow Chemical Co., according to a 424B2 filing with the Securities and Exchange Commission.

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

The annual coupon is expected to be at least 11% with the exact coupon set at pricing. Interest is payable quarterly.

If Dow Chemical stock falls below the trigger price - 75% of the initial price - during the life of the notes, the payout at maturity will be a number of Dow Chemical shares equal to par divided by the initial share price.

Otherwise, the payout will be par.

The notes are expected to price on Nov. 25 and settle on Nov. 30.

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