JPMorgan plans 6.5%-7.5% callable yield notes on S&P 500, Russell 2000

By Susanna Moon

Chicago, July 26 - JPMorgan Chase & Co. plans to price 6.5% to 7.5% single observation callable yield notes due Nov. 27, 2012 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless either index finishes at less than 75% of its initial level, in which case, the payout will be par plus the return of the worst-performing index.

The notes will be callable at par on Nov. 26, Feb. 26, 2012, May 26, 2012 and Aug. 26, 2012.

J.P. Morgan Securities LLC is the agent.

The notes will price on Aug. 19 and settle on Aug. 26.

The Cusip number is 48125XA48.

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