JPMorgan plans 8% callable yield notes on SPDR S&P Metals & Mining ETF, iShares MSCI Brazil

By Marisa Wong

Madison, Wis., May 18 - JPMorgan Chase & Co. plans to price 8% annualized callable 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.

Interest will be payable monthly.

The payout at maturity will be par unless the share price of either fund falls by more than 30% of the initial price during the life of the notes and either fund finishes below its initial level. In that case, the payout will be par plus the return of the lesser performing fund.

The notes will be callable at par on Sept. 12.

The notes (Cusip: 48125XSE7) are expected to price June 7 and settle June 10.

J.P. Morgan Securities LLC is the agent.

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