JPMorgan plans five-year protected notes on S&P 500 Risk Control index

By Susanna Moon

Chicago, Dec. 1 - JPMorgan Chase & Co. plans to issue 0% principal-protected notes due Dec. 31, 2014 based on the S&P 500 Risk Control 10% Excess Return index, according to a term sheet.

The payout at maturity will be par plus at least 100% of any index gain, with the exact participation rate to be set at pricing.

Investors will receive at least par.

The index is intended to provide a performance benchmark for an unfunded investment in the U.S. equity markets while seeking greater stability than and a reduction in the overall risk level relative to the S&P 500 Total Return index.

The notes will price on Dec. 22 and settle on Dec. 28.

J.P. Morgan Securities Inc. is the agent.

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