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

By Marisa Wong

Morgantown, W.Va., Dec. 21 – JPMorgan Chase & Co. plans to price 7% to 9% autocallable yield notes due Jan. 3, 2017 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly, with the exact percentage to be set at pricing.

The notes will be called at par of $1,000 plus the interest payment if each index closes at or above its initial level on any quarterly review date other than the final review date.

The payout at maturity will be par unless either index closes below its 70% trigger level on any day during the life of the notes and either index finishes below its initial level, in which case investors will be fully exposed to the any losses of the worst performing index.

J.P. Morgan Securities LLC is the agent.

The notes are expected to price on Dec. 23 and settle on Dec. 31.

The Cusip number is 48128GEK2.

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