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JPMorgan plans 8%-10% autocallable yield notes tied to S&P 500, Russell
By Susanna Moon
Chicago, May 25 - JPMorgan Chase & Co. plans to price 8% to 10% autocallable yield notes due June 6, 2013 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus accrued interest if the underlying indexes close above their initial levels on any of three call dates. The call dates are Aug. 31, Dec. 3, 2012 and March 1, 2013.
A trigger event will occur if either index falls below the 65% trigger level on any day during the life of the notes.
The payout at maturity will be par unless a trigger event occurs and the least-performing component finishes below its initial level, in which case investors will be exposed to those losses.
J.P. Morgan Securities LLC is the agent.
The notes will price on June 1 and settle on June 6.
The Cusip number is 48125VA34.
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