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JPMorgan Chase & Co., 6.10% Dep Shares Non-Cumulative Preferred Stock Series AA
Ticker Symbol: JPM-G* CUSIP: 48127X542 Exchange: NYSE
* NOTE: This security is no longer trading as of 6/01/2021
Security has been Called for: Tuesday, June 1, 2021
April 30, 2021 -- JPMorgan Chase & Co. (NYSE: JPM) has announced that it will redeem on June 1, 2021 all of the 142,500 outstanding shares of its 6.10% Non-Cumulative Preferred Stock, Series AA (“Series AA Preferred Stock”) and all of the 115,000 outstanding shares of its 6.15% Non-Cumulative Preferred Stock, Series BB (“Series BB Preferred Stock”). The shares of Series AA Preferred Stock are represented by 57,000,000 depositary shares which are currently traded on the New York Stock Exchange under the symbol JPM-G (CUSIP 48127X542), and the shares of Series BB Preferred Stock are represented by 46,000,000 depositary shares which are currently traded on the New York Stock Exchange under the symbol JPM-H (CUSIP 48127V827). Each depositary share represents a 1/400th interest in a share of Series AA Preferred Stock or Series BB Preferred Stock. The redemption price per share for the Series AA Preferred Stock and Series BB Preferred Stock will be $10,000 (equivalent to $25.00 per depositary share).
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QUANTUMONLINE.COM SECURITY DESCRIPTION: JPMorgan Chase & Co., 6.10% Depositary Shares each representing a 1/400th interest in a share of Non-Cumulative Preferred Stock, Series AA liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 9/1/2020 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-Cumulative distributions of 6.10% per annum ($1.525 per annum or $0.38125 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 one business day 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 capital treatment event which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet (see the prospectus for further information). 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-30 of the prospectus for further information). This security was rated as Ba1 by Moody’s and BBB- by S&P at the date of its IPO. 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 - 5/28/2015 - 52.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: JPRGP Changed: 6/16/2015
Market Value $1.3 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
Jason Scott
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212-270-2479
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| Toll Free Phone Number |
866-576-3228 |
| CEO - James Dimon |
CFO - Jennifer Piepszak |
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