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JPMorgan plans three-month 5% return notes linked to Senior Loan ETF
By Marisa Wong
Madison, Wis., May 14 - JPMorgan Chase & Co. plans to price 5% annualized return notes due Aug. 22, 2013 linked to the PowerShares Senior Loan Portfolio, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
For each $1,000 principal amount of notes, the payout at maturity will be (a) $993.60 plus (b) $1,000 multiplied by the fund return.
The initial share price will be set by the calculation agent and may or may not be the official closing price of one share of the exchange-traded fund on the pricing date.
J.P. Morgan Securities LLC is the agent.
The notes are expected to price May 15 and settle May 20.
The Cusip number is 48126DV48.
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