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JPMorgan Double Short US Long Bond Treasury Futures ETN due 9/30/2025
Ticker Symbol: DSTJ* CUSIP: 46634X864 Exchange: NYSEA
* NOTE: This security is no longer trading as of 10/10/2013
Company's Online Profile
BUSINESS: JPMorgan Double Short US Long Bond Treasury Futures Excahnge Traded Note (ETN) due 9/30/2025 are issued by J.P. Morgan Chase & Co and are part of the Series E Medium-Term Notes. INVESTMENT OBJECTIVE: The JPMorgan Double Short US Long Bond Treasury Futures ETN due 9/30/2025 is designed to provide investors a convenient way to implement and monetize a rising rates view at the long end of the US Treasury curve. Subject to the resetting leverage, this allows for the possibility to profit from an expectation of rising interest rates. The ETNs are inversely linked to the performance of the NYSE US Long Bond Treasury Futures Index. The notes are designed for investors who seek an inverse double leveraged return linked to the Index. The notes are not designed to be long-term investments, and investors should be willing to accept inverse leverage risk and to monitor and manage their investment in the notes actively. INDEX DESCRIPTION: The NYSE US Long Bond Treasury Futures Index seeks to replicate the returns of maintaining a long position in the longer dated end of the US Treasury curve. The ETNs provide double inverse leveraged exposure to the Index, from one reset date to the next and less Investor Fees, so that you positively benefit from a fall in the price of the Index due to a rise in prevailing yields. The Index maintains a continuous rolling long position in the Treasury bond futures by undergoing a process called a roll from the Next Month Futures Contract into the Far Month Futures Contract each quarter. The roll takes place through a rebalance that is effective for the last trading day of the month prior to that in which the Near Futures Contract expires. RETURNS AND MATURITY: You may request on a daily basis that we repurchase a minimum of 50,000 notes at a price equal to the Closing Note Value on the applicable Valuation Date less the Repurchase Fee. For each note, unless earlier repurchased or redeemed, you will receive at maturity a cash payment equal to the Closing Note Value on the Final Valuation Date. Maturity date is September 30, 2025. REDEMPTION AND FEES: The ETNs are senior, unsecured obligations of JPMorgan Chase & Co. and are subject to optional early redemption at the discretion of JPMorgan Chase & Co. after one year. On any Business Day on or after October 7, 2011, we may redeem all, but not less than all, issued and outstanding notes at our sole discretion after providing you at least five Business Days’ written notice. If we exercise our right to redeem your notes prior to maturity, for each note you will receive a cash payment equal to the Closing Note Value as of the applicable Valuation Date. We will also automatically redeem the notes on any Trading Day prior to the Final Valuation Date if the Closing Note Value is equal to $0. Upon such automatic early redemption by us, you will receive nothing. Investor Fee Percentage: 0.85% per annum. Investor fees for each note, (i) on the Initial Valuation Date, the Investor Fee is equal to $0; (ii) on any Trading Day immediately following a Reset Date, the Investor Fee is equal to the product of: (a) the Closing Note Value on the immediately preceding Trading Day; (b) the Investor Fee Percentage; and (c) the Day Count Fraction on such Trading Day; and (iii) on any other Trading Day, the Investor Fee is equal to the sum of: (a) the Investor Fee on the immediately preceding Trading Day; and (b) the product of (1) the Closing Note Value on the immediately preceding Trading Day, (2) the Investor Fee Percentage and (3) the Day Count Fraction on such Trading Day. The price to the public is $50 per note. For further information on this ETN click on the Link to the IPO Prospectus provided.
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Notes: 9/20/2013 JPMorgan Chase & Co. announced today that it will withdraw the NYSE Arca listing of its KEYnotes Exchange Traded Notes Linked to the First Trust Enhanced 130/30 Large Cap Index due 2023 with a CUSIP of 46625H761 (NYSE Arca: JFT) (the “JFT ETNs”) effective on or about October 10, 2013 due to current limited demand for the security. In connection with the delisting of the JFT ETNs, JPMorgan Chase & Co. and First Trust Portfolios L.P. will jointly terminate the Marketing Agent Agreement for the JFT ETNs effective on or about October 14, 2013.
Upon the effective delisting date, the JFT ETNs will no longer be listed on any national exchange or quoted medium. The JFT ETNs may trade, if at all, on an over the counter basis. For additional information, please see the prospectus related to the JFT ETNs.
JPMorgan Chase & Co. also announced today that it will redeem all of the outstanding exchange traded notes set forth below (collectively the “Redeemed ETNs”):
JPMorgan Double Short U.S. Long Bond Treasury Futures ETNs due September 30, 2025 with a CUSIP of 46634X864 (NYSE Arca: DSTJ); and
JPMorgan Double Short U.S. 10 Year Treasury Futures ETNs due September 30, 2025 with a CUSIP of 46634X823
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IPO - 10/5/2010 -
Link to IPO Prospectus
Micro Cap Stock -
Market Value $10.3 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 270 Park Avenue, 38th Floor, New York, NY 10017-2070 |
| Main Phone Number |
212-270-6000 |
| Fax Number |
Not Available |
| Investor Contact
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212-270-7325
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