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JPMorgan plans 9%-11% autocallable yield notes linked to indexes, ETF
By Angela McDaniels
Tacoma, Wash., Aug. 1 - JPMorgan Chase & Co. plans to price autocallable yield notes due May 31, 2013 linked to the Market Vectors Gold Miners exchange-traded fund, the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The nine-month notes will carry a coupon of 9% to 11% per year. The exact interest rate will be set at pricing. Interest will be payable monthly.
The notes will be called at par if all three of the underlying components close at or above their initial levels on Nov. 27, 2012 or Feb. 25, 2013.
A trigger event will occur if any underlying component falls by more than 40% during the life of the notes.
The payout at maturity will be par unless a trigger event occurs and the final level of any underlying component is less than its initial level, in which case investors will lose 1% for every 1% that the final level of the worst-performing underlying component is less than its initial level.
The notes are expected to price Aug. 28 and settle Aug. 31.
J.P. Morgan Securities LLC is the agent.
The Cusip number is 48125V2B5.
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