JPMorgan plans 10% callable yield notes linked to Russell, gold fund

By Toni Weeks

San Diego, Aug. 1 - JPMorgan Chase & Co. plans to price 10% callable yield notes due Aug. 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 is payable monthly.

The notes are callable at par on Nov. 30, Feb. 29, 2012 and May 31, 2012.

The payout at maturity will be par unless either component falls below its knock-in level - 60% of its initial level - during the life of the notes and the final level of either component is less than its starting level, in which case investors will receive par plus the return of the worst-performing component.

The notes (Cusip: 48125XD94) are expected to price Aug. 26 and settle Aug. 31.

J.P. Morgan Securities LLC is the agent.

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