JPMorgan plans 8% autocallable yield notes tied to S&P 500, mining ETF

By Angela McDaniels

Tacoma, Wash., April 7 - JPMorgan Chase & Co. plans to price 8% autocallable yield notes due April 19, 2012 linked to the S&P 500 index and the SPDR S&P Metals & Mining exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be called at par if each underlying component closes at or above its initial level on July 14, Oct. 14, 2011, Jan. 13, 2012 or April 16, 2012.

If the notes are not called, the payout at maturity will be par unless either underlying component closes below 72% of its initial level during the life of the notes. In that case, the payout will be par plus the return of the worst-performing underlying component, subject to a maximum payout of par.

The notes (Cusip: 48125XMR4) are expected to price April 14 and settle April 19.

J.P. Morgan Securities LLC is the agent.

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