JPMorgan Chase said in a press release on July 24, 2024 that it will redeem all 225,000 outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series FF, on August 1, 2024. The press release's headline cited a total of $2.25 billion.

1. 01

   JPMorgan Chase said in a press release on July 24, 2024 that it will redeem all 225,000 outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series FF, on August 1, 2024. The press release's headline cited a total of $2.25 billion.

2. 02

   The company said the redemption price per Series FF preferred share is $10,000, equal to $1,000 per depositary share. The preferred stock is represented by 2,250,000 depositary shares, with each depositary share representing a one-tenth interest in a share of the preferred stock, or 1 depositary shares for every 1 shares of preferred stock.

3. 03

   The company said the redemption payment will be made on August 1, 2024, the redemption date, upon presentation and surrender of depositary receipts to Computershare Inc. The same day is the final dividend payment date, and the record date for that dividend is July 2, 2024.

4. 04

   The company said the redemption is being made under the optional redemption provisions of the documents governing the depositary shares and the Series FF preferred stock. It also said that as of June 30, 2024, it had assets of $4.1 trillion and stockholders' equity of $341 billion.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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