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JPMorgan plans 6.5%-8.5% autocallable yield notes on S&P 500, Russell
By Angela McDaniels
Tacoma, Wash., April 30 - JPMorgan Chase & Co. plans to price 6.5% to 8.5% autocallable yield notes due Aug. 29, 2014 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly. The exact coupon will be set at pricing.
The notes will be called at par if each underlying index closes at or above its initial level on Aug. 28, 2013, Nov. 26, 2013, Feb. 25, 2014 or May 28, 2014.
A trigger event will occur if either index falls by more than 30% during the life of the notes.
The payout at maturity will be par unless a trigger event has occurred and either index finishes below its initial level, in which case investors will lose 1% for every 1% decline of the worst-performing component.
J.P. Morgan Securities LLC is the agent.
The notes will price May 28 and settle May 31.
The Cusip number is 48126D3C1.
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