JPMorgan plans 7%-9% autocallable yield notes tied to Russell, S&P 500

By Toni Weeks

San Diego, Nov. 2 - JPMorgan Chase & Co. plans to price 7% to 9% autocallable yield notes due Nov. 29, 2013 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

The exact interest rate will be set at pricing. Interest will be payable monthly.

The notes will be called automatically at par if each index closes at or above its initial level on Feb. 25, May 28, 2013 or Aug. 28, 2013.

A trigger event will occur if the closing level of either index declines by more than 35% during the life of the notes.

The payout at maturity will be par unless either index finishes below its initial level and a trigger event has occurred, in which case investors will lose 1% for every 1% that the worse-performing index declines below its initial level.

The notes are expected to price Nov. 27 and settle Nov. 30.

J.P. Morgan Securities LLC is the agent.

The Cusip number is 48126DGT0.

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