JPMorgan plans range accrual notes on six-month Libor, Russell 2000

By Marisa Wong

Madison, Wis., April 4 - JPMorgan Chase & Co. plans to price callable range accrual notes due April 17, 2027 linked to six-month Libor and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

Interest will accrue at an annualized rate of 7% for each day that six-month Libor is 6% or less and the index closes at or above 620. Interest is payable quarterly.

The payout at maturity will be par.

The notes are callable at par on any interest payment date beginning April 17, 2013.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 48125VUG3) will price on April 11 and settle on April 17.

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