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JPMorgan Chase & Co., 7.90% Fixed/Float Dep Shares Non-Cumul Preferred Stock I
Ticker Symbol: JFTTL* CUSIP: 46625HHA1 Exchange: TRACE
We know of no way of obtaining a quote for TRACE listed securities.
* NOTE: This security is no longer trading as of 10/31/2022
Security has been Called for: Monday, October 31, 2022
September 30, 2022 -- JPMorgan Chase & Co. issued a press release announcing the redemption on October 31, 2022 of all of the 2,933,750 outstanding depositary shares, each representing a one-tenth interest in a share of JPMorgan Chase & Co.’s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I, par value $1.00 per share and with a liquidation preference of $10,000 (the “Series I Preferred Stock”), pursuant to the optional redemption provisions in the documents governing such depositary shares and the Series I Preferred Stock. The company does not intend to list the depositary shares or the Preferred Stock on any securities exchange. The security was first listed on the Other OTC on 11/2/2011.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: JPMorgan Chase 7.90% Depositary Shares each representing a 1/10th interest in a share of the Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series I, liquidation preference $1000 per depositary share, redeemable at the issuer's option on or after 4/30/2018 at $1000 per depositary share plus declared and unpaid dividends, and with no stated maturity. Prior to but excluding 4/30/2018, non-cumulative distributions of 7.90% ($79.00) per annum will be paid semi-annually on 4/30 & 10/30 to holders of record on the record date fixed by the board, not more than 30 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). From and including 4/30/2018, non-cumulative dividends will be paid quarterly on 1/30, 4/30, 7/30 & 10/30 at a rate of the three-month LIBOR plus 3.47%. The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-26 of the prospectus for further information). In regard to the payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Stock Exchange |
Cpn Rate Ann Amt |
LiqPref CallPrice |
Call Date Matur Date |
Moodys/S&P Dated |
Distribution Dates |
15% Tax Rate |
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FixFloat
$79.00
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$1,000.00
$1,000.00
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Called for
10/31/2022
None
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Baa2
BBB-
6/03/2022
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4/30 & 10/30
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
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YES
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Go to Parent Company's Record (JPM)
IPO - 4/18/2008 - 6.00 Million Shares @ $1000.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: JFTTP Changed: 4/10/2012
Market Value $6.0 Billion
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Address and Phone Numbers |
Address: 270 Park Avenue, New York, NY 10017 |
Main Phone Number |
212-270-6000 |
Fax Number |
212-752-4823 |
Investor Relations
Jason Scott
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212-270-2479
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Toll Free Phone Number |
866-576-3228 |
CEO - James Dimon |
CFO - Jeremy Barnum |
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