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JPMorgan plans 9% autocallable yield notes on Russell, metals fund
By Toni Weeks
San Diego, Aug. 9 - JPMorgan Chase & Co. plans to price 9% annualized autocallable yield notes due Feb. 15, 2012 linked to the Russell 2000 index and the SPDR S&P Metals & Mining exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called automatically at par plus accrued interest if both the index and the fund close above their initial levels on Nov. 9.
A trigger event will occur if either the index or the fund falls below the trigger level, 65% of the initial level, on any trading day.
If a trigger event does not occur, investors will receive par at maturity. If a trigger event occurs and the return of the least-performing underlying is positive, investors will receive par.
If a trigger event occurs and the return of the least-performing underlying is negative, investors will share in those losses.
The notes (Cusip: 48125XG67) will price Aug. 10 and settle Aug. 15.
J.P. Morgan Securities LLC will be the agent.
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