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JPMorgan plans 10%-13% six-month callable yield notes on S&P 500, Market Vectors Gold Miners
By Susanna Moon
Chicago, Aug. 2 - JPMorgan Chase & Co. plans to price 10% to 13% annualized callable yield notes due Feb. 28, 2011 based on the performance of the S&P 500 index and the Market Vectors Gold Miners exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
A trigger event occurs if either underlying component falls to or below 70% of its initial level on any trading day during the life of the notes.
If a trigger event occurs, the payout at maturity will be par plus the return of the worse-performing underlying component, capped at a maximum payout of par.
If a trigger event does not occur, investors will receive par.
The notes are callable at par on Nov. 30.
The notes (Cusip 48124AXW2) are expected to price on Aug. 26 and settle on Aug. 31.
J.P. Morgan Securities Inc. is the agent.
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