JP Morgan debuts Alerian note with Bear licence


US bank JP Morgan has launched a new exchange-traded note (ETN) linked to the Alerian MLP (master limited partnerships) Index. The bank acquired rights to the index following its purchase 12 months ago of ailing US investment house Bear Stearns, which previously owned the licence.

JP Morgan's note will trade alongside the original ETN that Bear launched linked to the index, which was listed on the New York Stock Exchange (NYSE) in July 2007. The BearLinx Alerian MLP Select Index ETN was only the

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