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JPMorgan plans 5.15% callable yield notes on S&P 500, Russell 2000
By Toni Weeks
San Luis Obispo, Calif., Jan. 8 - JPMorgan Chase & Co. plans to price 5.15% single observation callable yield notes due July 31, 2015 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 July 24, 2015 final observation date, in which case investors will be fully exposed to the decline of the worst-performing index.
The notes may be called at par on any interest payment date other than the maturity date.
J.P. Morgan Securities LLC is the agent.
The notes (Cusip: 48126NU88) are expected to price Jan. 24 and settle Jan. 31.
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