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JPMorgan plans 8%-10% autocallable yield notes on Russell, gold fund
By Marisa Wong
Madison, Wis., Jan. 31 - JPMorgan Chase & Co. plans to price 8% to 10% autocallable yield notes due Feb. 28, 2014 linked to the Market Vectors Gold Miners exchange-traded 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 the quarterly call dates.
A trigger event will occur if any component falls by more than 30% on any day during the life of the notes.
The payout at maturity will be par unless a trigger event has occurred and either component finishes below its initial level, in which case investors will lose 1% for every 1% decline of the worse-performing component.
J.P. Morgan Securities LLC is the agent.
The notes will price on Feb. 25 and settle on Feb. 28.
The Cusip number is 48126DVV8.
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