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JPMorgan plans 10% callable yield notes on components with 60% trigger
By Susanna Moon
Chicago, May 2 - JPMorgan Chase & Co. plans to price 10% callable yield notes due May 31, 2012 linked to the Russell 2000 index and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless either the index or fund falls to or below its knock-in level - 60% of its initial level - during the life of the notes and finishes below its initial level, in which case investors will receive par plus the return of the worst-performing component, capped at a maximum payout of par.
The notes will be callable at par on Aug. 31, Nov. 30 and Feb. 29, 2012.
J.P. Morgan Securities LLC is the underwriter.
The notes will price on May 25 and settle on May 31.
The Cusip is 48125XPB6.
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