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JPMorgan plans 4.8%-5.2% callable yield notes on two indexes
By Toni Weeks
San Luis Obispo, Calif., April 4 - JPMorgan Chase & Co. plans to price 4.8% to 5.2% single observation callable yield notes due Oct. 27, 2014 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly. The exact coupon will be set at pricing.
The payout at maturity will be par unless either index falls by more than 25% on the Oct. 20, 2014 final observation date, in which case investors will be fully exposed to the decline in the worst-performing index.
The notes may be called at par on any interest payment date other than maturity date.
The notes (Cusip: 48126DM22) are expected to price April 19 and settle April 26.
J.P. Morgan Securities LLC is the agent.
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