Cushing 30 MLP Index ETN
PPLN
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 - Income
- Address
- DE United States of America
- IPO Date
- Jun 12, 2017
- CIK
- 0000019617
- Similar Companies
- Business
- Cushing 30 MLP Index ETN (PPLN) is an exchange-traded note (ETN) issued by JPMorgan Chase Financial Company LLC, a wholly owned indirect subsidiary of JPMorgan Chase & Co., that provides investors with exposure to the performance of the Cushing 30 MLP Index as measured by its volume-weighted average price (VWAP) level. The ETN offers potential quarterly variable coupon payments based on cash distributions from the index components, subject to an annual investor fee of 0.95%, and a cash payment at maturity on June 15, 2037, or upon early repurchase or issuer redemption, linked to the index's VWAP level over a five-day averaging period, less applicable fees including a 0.125% repurchase fee for investor-initiated repurchases of at least 50,000 notes weekly; payments are unsecured senior obligations fully and unconditionally guaranteed by JPMorgan Chase & Co. and listed on NYSE Arca. The underlying Cushing 30 MLP Index tracks an equal-weighted selection of 30 U.S.-based publicly traded master limited partnerships (MLPs) and related entities principally engaged in midstream energy infrastructure activities such as the transportation, storage, processing, and production of energy commodities, employing a proprietary fundamental scoring model for component ranking and quarterly rebalancing. Launched in June 2017 through a licensing agreement between JPMorgan Chase Financial Company LLC and Swank Energy Income Advisors, L.P. (doing business as Cushing Asset Management), the ETN originated from a strategic collaboration to bring the index to market via J.P. Morgan's structured product platform. Headquartered in New York, New York, the issuer operates globally with a focus on U.S. investors seeking MLP sector exposure without direct ownership complexities like K-1 tax forms. The product targets institutional and retail investors interested in midstream energy infrastructure, with performance tied exclusively to U.S. domestic energy commodities handling. No major strategic changes, acquisitions, partnerships, funding rounds, or new product launches involving PPLN have been reported in the last 1-2 years as of December 2025; the ETN continues to trade with low volume around $15.80, reflecting ongoing market dynamics in the MLP sector amid stable index tracking and unchanged fee structures.