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JPMorgan plans 8% callable yield notes linked to S&P 500, Russell 2000
By Susanna Moon
Chicago, Nov. 12 - JPMorgan Chase & Co. plans to price 8% callable yield notes due Dec. 20, 2011 based on 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 quarterly.
A trigger event will occur if either underlying index closes at or below 75% of its initial level.
The payout at maturity will be par unless a trigger event has occurred, in which case the payout will be par plus the return of the lower-performing index, up to a maximum payout of par.
The notes will be callable at par on any interest payment date.
The notes (Cusip 48124A2R7) are expected to price on Dec. 15 and settle on Dec. 20.
J.P. Morgan Securities LLC is the underwriter.
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