Well, it looks like JPM is taking a page out of the Goldman Sachs book, and are currently pushing an absolute dog shit structured product. It’s essentially a CDO made up of 3 ARK funds, leveraged 1.5x. It is a note, but yet there is no dividend, or coupon payment. Your only payout is principal plus the risk-adjusted return of the lowest performing ARK fund in the set of the 3. They’re only offering about $500,000 in total, which makes me wonder what’s the point? It’s probably some CPS (Cross Product Sales) asshole trying to get a Christmas bonus.
I always thought JPM was the moral, sophisticated older brother of the big banks. Anyway, the full prospectus is down below.
Let me know what you think.