JPMorgan launches 20-year ETNs linked to Cushing 30 MLP index

By Marisa Wong

Morgantown, W.Va., June 13 – JPMorgan Chase Financial Co. LLC announced it is launching exchange-traded notes due 2037 linked to the Cushing 30 MLP index.

The JPMorgan Cushing 30 MLP Index ETNs are guaranteed by JPMorgan Chase & Co.

The ETNs may pay a variable quarterly coupon based on cash distributions on the components of the underlying index, subject to the daily deduction of an investor fee of 0.95% per year.

The ETNs offer a weekly investor repurchase provision and will be callable, in whole or in part, on any business day on or after Dec. 15, 2017.

The index tracks the performance of publicly traded equity securities of 30 U.S.-based companies that are engaged in, or that hold an entity engaged in, the midstream activities of transportation, storage, processing or production of energy commodities. The securities are selected according to a proprietary valuation model developed by Cushing Asset Management, LP, the index sponsor. The index is maintained and published by S&P Dow Jones Indices LLC.

The ETNs will be listed on NYSE Arca under the ticker symbol “PPLN.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.