JPMorgan Chase Financial Company LLC Announces the Early Redemption of Cushing® 30 MLP Index ETNs
19 December 2019 - 9:02AM
Business Wire
JPMorgan Chase Financial Company LLC (the “Issuer”) announced
today that it will redeem all of its outstanding Cushing 30 MLP
Index ETNs due June 15, 2037 (the “Redeemed ETNs”) with a CUSIP of
48129G703 (NYSE Arca: PPLN).
Terms used but not defined herein shall have the meanings
ascribed to those terms in the market-making supplement dated April
5, 2018 related to the Redeemed ETNs (the “Market-Making
Supplement”).
The Redemption Valuation Date will be January 7, 2020.
The Measurement Period with respect to the Redemption Valuation
Date will be the five Index Business Days beginning on the
Redemption Valuation Date. This Measurement Period is subject to
postponement in the event of a market disruption event.
The Redemption Settlement Date will be the second Business Day
after the final day of the Measurement Period with respect to the
Redemption Valuation Date, which is expected to be January 15,
2020. Accordingly, the last day of trading for the Redeemed ETNs is
expected to be January 14, 2020.
On the Redemption Settlement Date, holders of the Redeemed ETNs
will receive a cash payment (the “Payment upon Early Redemption”)
equal to the Closing Intrinsic Note Value as of the final day of
the Measurement Period with respect to the Redemption Valuation
Date, subject to potential adjustments as described in the
Market-Making Supplement. Please refer to the Market-Making
Supplement for the details of the calculation of this Closing
Intrinsic Note Value.
Holders of the Redeemed ETNs will no longer be able to request
the Issuer to repurchase their Redeemed ETNs on or after the date
hereof.
Other exchange-traded notes, structured notes, debt securities
and other securities issued by JPMorgan Chase Financial Company LLC
and JPMorgan Chase & Co. are not affected by this
redemption.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global
financial services firm with assets of $2.8 trillion and operations
worldwide. The Firm is a leader in investment banking, financial
services for consumers and small businesses, commercial banking,
financial transaction processing and asset management. A component
of the Dow Jones Industrial Average, JPMorgan Chase & Co.
serves millions of consumers in the United States and many of the
world's most prominent corporate, institutional and government
clients under its J.P. Morgan and Chase brands. Information about
JPMorgan Chase & Co. is available at www.jpmorganchase.com.
Investment suitability must be determined individually for each
investor, and the Notes may not be suitable for all investors. This
information is not intended to provide and should not be relied
upon as providing accounting, legal, regulatory or tax advice.
Investors should consult with their own advisors as to these
matters.
JPMorgan Chase & Co. and JPMorgan Chase Financial Company
LLC have filed a registration statement (including a prospectus)
with the SEC for any offerings to which these materials relate.
Before you invest, you should read the prospectus in that
registration statement and the other documents relating to any
offerings to which these materials relate that JPMorgan Chase &
Co. and JPMorgan Chase Financial Company LLC have filed with the
SEC for more complete information about JPMorgan Chase & Co.,
JPMorgan Chase Financial Company LLC and any offering to which
these materials relate.
You may get these documents without cost by visiting EDGAR on
the SEC Web site at www.sec.gov. Alternatively, JPMorgan Chase
& Co., JPMorgan Chase Financial Company LLC or any agent or any
dealer participating in the any offerings to which these materials
relate will arrange to send you the prospectus and each prospectus
supplement as well as any product supplement, underlying supplement
and pricing supplement if you so request by calling toll-free
866-535-9248.
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JPMorgan Cushing team 1-800-576-3529
JPM_Structured_Investments@jpmchase.com
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