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JPMorgan plans 10.25% autocallable yield notes on S&P 500, Russell
By Toni Weeks
San Diego, March 13 - JPMorgan Chase & Co. plans to price 10.25% autocallable yield notes due March 25, 2013 linked to the S&P 500 index and the Russell 2000 index, 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 the indexes close above their initial levels on three quarterly call dates. The call dates are June 20, Sept. 20, 2012 and Dec. 20, 2012.
A trigger event will occur if either index 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 index is negative, investors will share in those losses.
The notes (Cusip: 48125VQW3) are expected to price March 20 and settle March 23.
J.P. Morgan Securities LLC is the agent.
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