JPMorgan plans to price autocallable yield notes linked to two funds

By Toni Weeks

San Diego, May 20 - JPMorgan Chase & Co. plans to price autocallable yield notes due Dec. 12, 2011 linked to the SPDR S&P Metals & Mining exchange-traded fund and the iShares MSCI Brazil index fund, according to an FWP filing with the Securities and Exchange Commission.

The notes will bear interest at 8% per year, payable monthly.

The notes will be called automatically at par plus accrued interest if the funds close above their initial levels on Sept. 7.

A trigger event will occur if either fund falls below the trigger level - 70% of the initial level - on any trading day.

If a trigger event does not occur, investors will receive par at maturity. If a trigger event occurs and the ending level of the worst-performing fund is less that its initial level, investors will share in those losses.

The notes (Cusip: 48125XSL1) will price June 7 and settle June 10.

J.P. Morgan Securities LLC will be the agent.

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