JPMorgan plans callable contingent interest notes tied to S&P, Russell

By Marisa Wong

Madison, Wis., April 23 - JPMorgan Chase & Co. plans to price callable contingent interest notes due May 31, 2017 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

If each index closes at or above the 70% barrier level on a semiannual review date, the notes will pay a coupon at an annual rate of 6.25% to 6.75% for that period. The exact semiannual contingent coupon will be set at pricing.

The notes are callable at par plus the coupon on any interest payment date other than the final date.

The payout at maturity will be par unless either index finishes below the 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing component.

J.P. Morgan Securities LLC is the agent.

The notes are expected to price on May 23 and settle on June 2.

The Cusip number is 48127DFT0.

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