25.04.2013 18:49:00

J.P. Morgan Securities LLC (Muni. Deriv.) -- Moody's reviews amendment to Series Trust Agreement for J.P. Morgan Securities LLC (Muni. Deriv.) Tax-Exempt Receipts, Series 2514

New York, April 25, 2013 -- Moody's Investors Service, at the request of JP Morgan Securities LLC, has reviewed the proposed amendment dated as of April 25, 2013 (the Amendment) to the Series Trust Agreement relating to Puttable Tax-Exempt Receipts (Putters) and Derivative Inverse Tax-Exempt Receipts (Drivers), Series 2514. The Amendment, which affects the Designated Termination Date, will not have an adverse effect on the credit quality of the tax-exempt receipts and therefore will not, in and of itself and as of this time, result in reduction or withdrawal of Moody's rating. Moody's does not express an opinion as to whether the amendment could have other, non credit-related effects.

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