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JPMorgan Chase Capital XXIX, 6.70% Capital Securities, Series CC
Ticker Symbol: JPM-C* CUSIP: 48125E207 Exchange: NYSE
* NOTE: This security is no longer trading as of 4/02/2015
Security has been Called for: Thursday, April 2, 2015
FEBRUARY 27, 2015 - JPMorgan Chase & Co. announced today that JPMorgan Chase Capital XXIX will redeem all of the issued and outstanding $1,500,000,000 aggregate liquidation amount of its 6.70% Capital Securities, Series CC (CUSIP 48125E207; NYSE: JPM-PrC) on April 2, 2015 pursuant to the optional redemption provisions provided in the documents governing such Trust Preferred Securities. The redemption price will be 100% of the liquidation amount of each Trust Preferred Security, together with accrued and unpaid distributions to the redemption date. The redemption will be funded with available cash. ____________ This security is possibly subject to an early call as a result of the occurrence of a capital treatment event (see prospectus for further information) stemming from the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: JPMorgan Chase Capital XXIX, 6.70% Capital Securities, Series CC, liquidation amount $25 per share, guaranteed by JPMorgan Chase & Co. (NYSE: JPM) (See our definition of Guaranteed in our Glossary of Income Investing Terms for the technicalities of the guarantee), redeemable at the issuer's option on or after 4/2/2015 at $25 per share plus accrued and unpaid dividends, and maturing 4/2/2040. Cumulative distributions of 6.70% ($1.675) per annum are paid quarterly on 1/2, 4/2, 7/2 & 10/2 to holders of record on the record date which is two business days prior to the payment date while the securities remain in book-entry form (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Dividends paid by trust preferred securities are derived from interest paid to the underlying debt securities and therefore are NOT eligible for the 15% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 6.70% Subordinated Deferrable Interest Debentures due 4/2/2040 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (JPM)
IPO - 3/29/2010 - 60.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $1.5 Billion
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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
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212-270-7325
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| Toll Free Phone Number |
866-576-3228 |
| CEO - James Dimon |
CFO - Marianne Lake |
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