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JPMorgan launches new Alerian MLP index ETN
Chicago, Jan. 26 – JPMorgan Chase Financial Co. LLC said that Friday was the first day of trading for its new Alerian MLP index ETNs due 2044, according to a press release.
The ETNs are designed to track the performance of the Alerian MLP index. The index measures the composite performance of energy-oriented master limited partnerships that earn most of their cash flows from qualified activities involving energy commodities using a capped, float-adjusted, capitalization-weighted methodology.
There is a variable quarterly coupon linked to the cash distributions paid on the companies in the index, minus a quarterly investor fee that accrues on a daily basis at a rate of 0.85% per year.
JPMorgan may call the notes on any trading day starting July 26, 2024 until maturity.
The ETNs are listed on the NYSE Arca under the ticker symbol “AMJB.”
The notes are fully and unconditionally guaranteed by JPMorgan Chase & Co.
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