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J.P. Morgan to Offer Global Depositary Notes Building on an 85-year history of innovation that began with the introduction of the ADR in 1927, J.P. Morgan will add Global Depositary Notes (GDNs) to its suite of Depositary Receipt (DR) products in 2015. The establishment of our GDN offering is the latest example of J.P. Morgan’s leadership and commitment to the DR business, highlighted over the years by milestones such as the first Asian and Latin American ADR programs and, more recently, by structuring the first Hong Kong DR in 2010. Introduction to GDNs Similar to DRs, which are equity-based products, GDNs evidence local currency bonds held in custody by a depositary bank, and trade, settle, and pay interest and principal in U.S. Dollars. GDNs, which are Euroclear, Clearstream, or DTC eligible, can provide a potential solution for emerging market debt investors who encounter settlement, regulatory, or other challenges. Features and Benefits of GDNs • Interest and principal payments in U.S. Dollars • Prearranged local custodian facilities • Settlement in Euroclear, Clearstream, or DTC • Ability to transact across multiple broker-dealers • Greater accessibility to emerging market debt instruments J.P. Morgan’s Role as Depositary Bank As depositary, J.P. Morgan is responsible for the establishment of GDN programs, issuance and cancellation of the notes, execution of corporate actions, and the conversion and subsequent distribution of coupon and principal payments in U.S. Dollars to GDN holders. Investors will benefit from the depth of our experience as a depositary bank and the firm’s overall leadership in the emerging markets fixed income space. Contact Information If you would like to discuss our GDN solutions with one of our experts, please contact: Product Management Global Paul Martin +1-212-552-3735 [email protected] Asia Pacific King Ho +852-2800-1857 [email protected] Investors and Broker-Dealers New York James W. Reeves II +1-212-552-8928 [email protected] London Matt Schilder +44-20-7134-3181 [email protected] São Paulo Andrea Krongold +55-114-950-3650 [email protected] Bloomberg ADRJ<GO> Disclosures JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, asset management and private equity. 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. The opinions, estimates, strategies and views expressed in the document constitute our judgment as of the date of this material and are subject to change without further notice. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. JPMSI or its broker-dealer affiliates may hold a position, trade on a principal basis or act as market maker in the financial instruments of any issuer discussed herein or act as an underwriter, placement agent, advisor or lender to such issuer. This publication contains a summary of the subject matter (and is subject to change without notice) and is provided solely for general information purposes. J.P. Morgan does not make any representation or warranty, whether expressed or implied, in relation to the completeness, accuracy, currency or reliability of the information contained in this publication nor as to the legal, regulatory, financial or tax implications of the matters referred herein. This brochure does not constitute a solicitation in any jurisdiction in which such a solicitation is unlawful or to any person to whom it is unlawful. Issued and approved for distribution in the United States by JPMorgan Chase Bank N.A. and regulated by the Office of the Comptroller of the Currency and in the United Kingdom and the European Economic Area by J.P. Morgan Europe Limited. In the United Kingdom, JPMorgan Chase Bank, N.A., London branch and J.P. Morgan Europe Limited are authorized and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Copyright 2014 JPMorgan Chase & Co. All rights reserved.
