JPMorgan plans 7% autocallable yield notes on Russell, gold fund

By Jennifer Chiou

New York, May 9 - JPMorgan Chase & Co. plans to price 7% autocallable yield notes due May 27, 2014 linked to the Market Vectors Gold Miners exchange-traded fund and the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.

Interest is payable monthly. The exact coupon will be set at pricing.

The notes will be automatically called at par plus accrued interest if both components close at or above their initial levels on any of the quarterly call dates.

A trigger event will occur if either component falls below the trigger level, 59% of its initial level, on any trading day.

If a trigger event does not occur, or if it does and the return of the least-performing component is zero or positive, investors will receive par at maturity.

If a trigger event occurs and the return of the least-performing component is negative, investors will share in those losses.

The notes (Cusip: 48126D4X4) are expected to price on May 21 and settle on May 24.

J.P. Morgan Securities LLC is the agent.

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