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JPMorgan plans 7.15% autocallable yield notes on fund, two indexes
By Toni Weeks
San Diego, Oct. 19 - JPMorgan Chase & Co. plans to price autocallable yield notes due Sept. 5, 2013 linked to the lesser performing of the Market Vectors Gold Miners exchange-traded fund, the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The coupon will be at least 7.15% per year and will be set at pricing. Interest will be payable monthly.
The notes will be called automatically at par if each underlying closes at or above its initial level on May 1, 2013, May 31, 2013, July 1, 2013 or July 31, 2013.
A trigger event will occur if the closing level of any underlying component is less than its initial level by more than 40% on any day during the life of the notes.
The payout at maturity will be par unless any underlying finishes below its initial level and a trigger event has occurred, in which case investors will lose 1% for every 1% that the worse-performing component declines below its initial level.
The notes (Cusip: 48126DED7) are expected to price Oct. 31 and settle Nov. 5.
J.P. Morgan Securities LLC will be the agent.
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