JPMorgan plans 5.45% single observation callable yield notes tied to S&P 500, Russell 2000

By Jennifer Chiou

New York, Oct. 3 - JPMorgan Chase & Co. plans to price single observation callable yield notes due April 27, 2015 linked to the S&P 500 index and the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.

The notes will carry a coupon of at least 5.45%. The exact coupon will be set at pricing. Interest is payable quarterly.

If the final level of either underlying index is less than 75% of its initial level, the payout at maturity will be par plus the return of the worst-performing index. Otherwise, the payout will be par.

The notes are callable at par on any interest payment date other than the maturity date.

The notes (Cusip: 48126NWS2) are expected to price on Oct. 18 and settle on Oct. 25.

J.P. Morgan Securities LLC is the agent.

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