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JPMorgan plans 10% callable yield notes on S&P 500, Russell 2000
By Jennifer Chiou
New York, Aug. 15 - JPMorgan Chase & Co. plans to price 10% annualized callable yield notes due Aug. 31, 2012 linked to the S&P 500 index and the Russell 2000 index, according to an FWP 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 60% 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. 30, Feb. 29, 2012 and May 31, 2012.
The notes (Cusip: 48125XM60) are expected to price on Aug. 26 and settle on Aug. 31.
J.P. Morgan Securities LLC is the agent.
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