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JPMorgan plans 8.5% autocallable yield notes tied to S&P 500, Russell
By Susanna Moon
Chicago, April 13 - JPMorgan Chase & Co. plans to price 8.5% autocallable yield notes due April 23, 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 July 18, Oct. 18, 2012 and Jan. 17, 2013.
A trigger event will occur if either index falls below the 60% 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 April 18 and settle on April 23.
The Cusip number is 48125VVF4.
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