JPMorgan plans trigger phoenix autocallables due 2015 tied to S&P 500

By Susanna Moon

Chicago, June 28 - JPMorgan Chase & Co. plans to price trigger phoenix autocallable optimization securities due Jan. 8, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index closes at or above the trigger level, 74% to 78% of the initial level, on a quarterly observation date, the notes will pay a contingent quarterly coupon at an annualized rate of 5% for that quarter. The exact trigger level will be set at pricing.

The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any quarterly observation date.

If the notes are not called, the payout at maturity will be par unless the final index level is less than the trigger level, in which case investors will be fully exposed to the index's decline from the initial level.

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

The notes will price on July 2 and settle on July 8.

The Cusip number is 48126H746.

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