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JPMorgan plans 6.35%-8.35% airbag autocallables linked to MetLife
By Susanna Moon
Chicago, Dec. 19 - JPMorgan Chase & Co. plans to price 6.35% to 8.35% airbag autocallable yield optimization notes due Jan. 3, 2014 linked to MetLife Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par plus accrued interest if MetLife stock closes at or above the initial share price on any review date.
If the notes are not called, the payout at maturity will be par unless the final share price is less than the 85% conversion level, in which case the payout will be a number of MetLife shares equal to $1,000 divided by the conversion price.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the underwriters.
The notes are expected to price on Dec. 27 and settle on Dec. 31.
The Cusip number is 48124B790.
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