This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

JPMorgan Chase & Co. Announces A Cap To The Issuances Of The Alerian MLP Index ETNs (NYSE Arca: AMJ)

JPMorgan Chase & Co. (NYSE: JPM) announced today that the maximum number of Alerian MLP Index ETNs (NYSE Arca: AMJ) authorized for issuance will be 129 million ETNs. This size limitation does not affect the weekly repurchase rights at the option of note holders described in the reopening pricing supplement and the product supplement relating to the ETNs. Other exchange traded notes, structured notes and debt securities issued by JPMorgan Chase & Co. are not affected by this maximum issuance authorization.

As a result of this determination, the current market capitalization of the maximum number of ETNs authorized for issuance, calculated by multiplying the $36.39 closing price of the ETNs on June 13, 2012 by the maximum number of ETNs authorized for issuance, would be equal to $4,694,310,000. As of June 13, 2012, JPMorgan Chase & Co. has issued 117,950,000 ETNs with an aggregate market capitalization of $4,292,200,500, based on the $36.39 closing price of the ETNs on June 13, 2012. The current market capitalization of the ETNs held by investors equals the number of ETNs issued as of June 13, 2012 multiplied by the closing price of the ETNs on June 13, 2012, excluding approximately 2.5 million ETNs held by an affiliate of JPMorgan Chase & Co. for secondary market purposes. Accordingly, the difference in current market capitalization of ETNs authorized for issuance and the current market capitalization of the ETNs held by investors is approximately $500 million.

As disclosed in amendment no. 6 to reopening pricing supplement no. 1 relating to the ETNs under the heading “Selected Risk Considerations — Many Economic and Market Factors Will Impact the Value of the Notes,” the market value of the ETNs may be influenced by, among other things, supply and demand for the notes, including inventory positions with any market maker.

It is possible that the maximum issuance authorization, as described above, may influence the market value of the ETNs. Due to market supply and demand, the price of the ETNs may trade at a premium above their indicative note value. Any ETN price premium may subsequently decrease resulting in financial loss to sellers who paid this price premium. ETN investors should always consult their financial advisors before purchasing or selling ETNs, especially ETNs with premium characteristics.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,757.91 +138.40 0.79%
S&P 500 2,077.42 +14.31 0.69%
NASDAQ 5,013.1230 +26.2560 0.53%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs