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JPMorgan Chase & Co., 8.625% Dep Shares Non-Cumul Preferred Stock, Series J
Ticker Symbol: JPM-I* CUSIP: 46625H621 Exchange: NYSE
* NOTE: This security is no longer trading as of 9/01/2013
Security has been Called for: Sunday, September 1, 2013
8/1/2013 -- JPMorgan Chase & Co. (JPM) today announced that it will redeem on September 1, 2013, all of the 180,000 outstanding shares of its 8.625% Non-Cumulative Preferred Stock, Series J (“Series J Preferred Stock”). The shares of Series J Preferred Stock are represented by 72,000,000 depositary shares which are currently traded on the New York Stock Exchange under the symbol JPM-PrI (CUSIP 46625H621). Each depositary share represents a 1/400th interest in a share of Series J Preferred Stock. The redemption price per share for the Series J Preferred Stock will be $10,000 (equivalent to $25.00 per depositary share). Payment of the redemption price will be made on September 3, 2013, the first business day after the redemption date of September 1, 2013, upon presentation and surrender of the depositary receipts evidencing the depositary shares to be redeemed to Computershare Inc, as Depositary, at 480 Washington Boulevard, Floor 27, Jersey City, New Jersey 07310. September 1, 2013 is also the final dividend payment date for the Series J Preferred Stock and the depositary shares. The record date for that dividend is August 2, 2013. Payment of the final dividend will be made on September 3, 2013, the first business day after the dividend payment date of September 1, 2013.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: JPMorgan Chase & Co., 8.625% Depositary Shares each representing a 1/400th interest in a share of 8.625 Non-Cumulative Preferred Stock, Series J, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 9/1/2013 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-cumulative distributions of 8.625% ($2.15625) per annum are 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. 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-27 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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Go to Parent Company's Record (JPM)
IPO - 8/18/2008 - 64.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: JPCDP Changed: 9/03/2008
Market Value $1.6 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 - Douglas L. Braunstein |
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