We no longer support this browser. Using a supported browser will provide a better experience.

Please update your browser.

Close browser message

JPMorgan Chase Announces Partial Redemption of its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I Represented By Depositary Shares

New York

– September 26, 2019

JPMorgan Chase & Co. (NYSE: JPM) (“JPMorgan Chase” or the “Firm”) has announced that on October 30, 2019 (the “Redemption Date”) it will redeem 137,000 of the 430,375 outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I (“Series I Preferred Stock”). The shares of Series I Preferred Stock are represented by 4,303,750 depositary shares (“Series I Depositary Shares”), with each Series I Depositary Share (CUSIP: 46625HHA1) representing a one-tenth interest in a share of Series I Preferred Stock. Simultaneously with the redemption of 137,000 shares of the Series I Preferred Stock on the Redemption Date, 1,370,000 of the Series I Depositary Shares will be redeemed. The Series I Depositary Shares to be redeemed will be selected by lottery in accordance with the applicable procedures of The Depositary Trust Company (“DTC”). The redemption price per share for the Series I Preferred Stock to be redeemed will be $10,000 (equivalent to $1,000 per Series I Depositary Share).

October 30, 2019 is also a dividend payment date for the Series I Preferred Stock and the Series I Depositary Shares. When declared, dividends on all of the outstanding shares of Series I Preferred Stock represented by Series I Depositary Shares will be paid separately on October 30, 2019 to the holders of record on September 30, 2019. Dividends on the Series I Depositary Shares that are redeemed will cease to accrue after the Redemption Date. Series I Depositary Shares not selected for redemption will remain outstanding after the Redemption Date and will continue to accrue dividends, when declared on the outstanding Series I Preferred Stock.

The Series I Depositary Shares are held in book-entry form through DTC, and the Series I Depositary Shares to be redeemed will be redeemed in accordance with the procedures of DTC. Payment to DTC of the redemption price for the Series I Depositary Shares to be redeemed will be made by Computershare Inc, as Depositary for the Series I Preferred Stock and as redemption agent, on the Redemption Date. The address for the redemption agent is: 150 Royall Street, Canton, Massachusetts 02021.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.7 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

Investor Contact:
Jason Scott, 212-270-2479

Media Contact:
Joseph Evangelisti, 212-270-7438

Contact Information


For help as a customer or client:

For shareholder and fixed income assistance, please contact
Investor Relations
JPMorgan Chase & Co.
277 Park Avenue
New York, NY 10172-0003
212-270-2479
JPMCinvestorrelations@jpmchase.com

Stock Trade Information

 

Stock Transfer Agent:
Computershare

By regular mail:
Computershare
P.O. Box 505000
Louisville, KY, 40233

By overnight delivery:
462 South 4th Street
Suite 1600
Louisville, KY, 40202
800-758-4651 (toll free)
201-680-6862 (international)
www.computershare.com