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JPMorgan Chase & Co., 5.50% Dep Shares Non-cumul Preferred Stock, Series O
Ticker Symbol: JPM-D* CUSIP: 48126E750 Exchange: NYSE
* NOTE: This security is no longer trading as of 12/01/2017
Security has been Called for: Friday, December 1, 2017
October 31, 2017 - JPMorgan Chase & Co. has announced that it will redeem on December 1, 2017 all of the 125,750 outstanding shares of its 5.50% Non-Cumulative Preferred Stock, Series O. The shares of Series O Preferred Stock are represented by 50,300,000 depositary shares which are currently traded on the New York Stock Exchange under the symbol JPM-D (CUSIP 48126E750). Each depositary share represents a 1/400th interest in a share of Series O Preferred Stock. The redemption price per share for the Series O Preferred Stock will be $10,000 (equivalent to $25.00 per depositary share). Payment of the redemption price will be made on the redemption date of December 1, 2017, upon presentation and surrender of the depositary receipts evidencing the depositary shares to be redeemed to Computershare Inc, as Depositary, at 250 Royall Street, Canton, Massachusetts 02021. Depositary shares held in book-entry form shall be surrendered in accordance with applicable procedures of The Depository Trust Company. December 1, 2017 is also the final dividend payment date for the Series O Preferred Stock and the depositary shares. The record date for that dividend is November 1, 2017. Payment of the final dividend will be made on the redemption date of December 1, 2017.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: JPMorgan Chase & Co., 5.50% Depositary Shares each representing a 1/400th interest in a share of the 5.50% Non-cumulative Preferred Stock, Series O, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 9/1/2017 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-cumulative distributions of 5.50% per annum ($1.375 per annum or $0.34375 per quarter) will be paid quarterly on 3/1, 6/1, 9/1 & 12/1 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 at least 2 business days prior to the record date). 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. This security is possibly subject to an early call as a result of the occurrence of a regulatory capital treatment event (see the prospectus for further information) which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet. 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-25 of the prospectus for further information). In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, 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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Go to Parent Company's Record (JPM)
IPO - 8/22/2012 - 44.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: JPLML Changed: 9/05/2012
Market Value $1.1 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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