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JPMorgan plans 10%-12% callable yield notes on S&P 500, Nasdaq 100
By Susanna Moon
Chicago, Oct. 1 - JPMorgan Chase & Co. plans to price 10% to 12% annualized callable yield notes due April 29, 2011 based on the lesser performing of the S&P 500 index and the Nasdaq 100 index, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly and will be set at pricing.
The notes are callable at par on Jan. 31.
The payout at maturity will be par unless either index falls to or below its knock-in level - 75% of its initial level - during the life of the notes and finishes below the initial level, in which case investors will receive par plus the return of the worse performing index.
The notes (Cusip 48124AM95) will price on Oct. 26 and settle on Oct. 29.
J.P. Morgan Securities LLC is the agent.
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