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JPMorgan plans 7.25%-7.75% autocallable yield notes on fund, index
By Toni Weeks
San Diego, Sept. 5 - JPMorgan Chase & Co. plans to price 7.25% to 7.75% autocallable yield notes due Sept. 24, 2013 linked to the iShares MSCI Emerging Markets index fund and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly. The exact coupon will be set at pricing.
The notes will be called at par if each underlying component closes at or above its initial level on any of three quarterly call dates.
A trigger event will occur if either component falls by more than 41% during the life of the notes.
The payout at maturity will be par unless a trigger event has occurred and either underlying component finishes below its initial level, in which case investors will lose 1% for every 1% decline of the worst-performing component.
The notes (Cusip: 48125V5Z9) are expected to price Sept. 19 and settle Sept. 24.
J.P. Morgan Securities LLC is the agent.
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