I used the following syntax and it seems to have given the desired result:
COPY,
INFILE(SYSUT1),
OUTFILE(SYSUT1O),
REPLACEMEM(Y),
INFORMAT(JCL),
MEMBER(*),
CHANGE(1,0,EQ,C" CLASS=P",C" CLASS=Y",ALL),
CHANGE(1,0,EQ,C",CLASS=P",C",CLASS=Y",ALL)
In the future, it may be easier for you to use option 3.9 to create the proper syntax from the panels:
CA File Master Plus ---------- Update From & To Character Strings ----------
COMMAND ===>
Pos Len Op Value All
From ===> 1 0 EQ C" CLASS=P"___________________________________
To C" CLASS=Y"___________________________________ Y
From ===> 1 0 EQ C",CLASS=P"___________________________________
To C",CLASS=Y"___________________________________ Y