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JPMorgan plans 11%-12% callable yield notes tied to S&P 500, Russell
By Jennifer Chiou
New York, Sept. 9 - JPMorgan Chase & Co. plans to price 11% to 12% callable yield notes due Sept. 21, 2012 linked to the S&P 500 index and the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on Dec. 21, March 21, 2012 and June 21, 2012.
The payout at maturity will be par unless either index falls to or below its knock-in level - 75% of its initial level - during the life of the notes and finishes below the initial level, in which case investors will receive par plus the return of the worst-performing index.
The notes (Cusip: 48125XZ41) will price on Sept. 14 and settle on Sept. 21.
J.P. Morgan Securities LLC will be the agent.
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