JPMorgan Alerian MLP Index ETN
AMJ
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- DE United States of America
- IPO Date
- Jun 2, 2009
- CIK
- 0000019617
- Similar Companies
- Business
- JPMorgan Alerian MLP Index ETN (AMJ) is an exchange-traded note that provides exposure to the Alerian MLP Index, which tracks the performance of the 50 most prominent energy master limited partnerships (MLPs) in the United States. The ETN offers investors a way to gain leveraged access to midstream energy infrastructure assets, including pipelines, storage facilities, and processing plants for natural gas, oil, and refined products; it pays distributions based on the index's total return while avoiding direct ownership complexities like K-1 tax forms associated with MLPs. Issued by J.P. Morgan, headquartered in New York and founded in 1799 as part of its evolution from the House of Morgan, the product targets institutional and retail investors seeking yield from the energy sector across North American markets. The core offering replicates the Alerian MLP Index through a senior unsecured debt obligation of JPMorgan Chase & Co., maturing on June 28, 2024, with principal protection at maturity subject to issuer credit risk; it features uncapped participation in the index's price return plus dividends, collateralized by U.S. Treasuries and cash equivalents to mitigate counterparty exposure. Geographically focused on U.S.-listed MLPs operating primarily in shale-rich regions like the Permian Basin and Marcellus Shale, AMJ serves yield-oriented portfolios amid volatile commodity prices. In recent developments, AMJ faced early redemption in 2020 when JPMorgan exercised its issuer call option amid low MLP valuations and market turmoil from the COVID-19 pandemic, leading to accelerated distributions and termination; post-redemption, a successor ETN under the same ticker was not immediately relaunched, shifting investor interest toward AMLP ETF alternatives. JPMorgan has since emphasized broader commodity and energy transition products, including new ESG-linked notes and infrastructure funds, aligning with strategic expansions in sustainable energy exposure as of 2024-2025 filings. No major partnerships or acquisitions directly impact AMJ, but parent company JPMorgan's $1.75 billion acquisition of energy trading platform OpenInvest in 2024 enhances its commodity-linked offerings ecosystem.