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JPMorgan Chase To Redeem All $880 Million Of Its 6.30% Non-Cumulative Preferred Stock, Series W Represented By Depositary Shares
New York– August 02, 2019
JPMorgan Chase & Co. (NYSE: JPM) (“JPMorgan Chase” or the “Firm”) has announced that it will redeem on September 1, 2019 all of the 88,000 outstanding shares of its 6.30% Non-Cumulative Preferred Stock, Series W (“Series W Preferred Stock”). The shares of Series W Preferred Stock are represented by 35,200,000 depositary shares which are currently traded on the New York Stock Exchange under the symbol JPM PR E (CUSIP 481246700). Each depositary share represents a 1/400th interest in a share of Series W Preferred Stock. The redemption price per share for the Series W Preferred Stock will be $10,000 (equivalent to $25.00 per depositary share).
Payment of the redemption price will be made on September 3, 2019, the first business day after the redemption date of September 1, 2019, upon presentation and surrender of the depositary receipts evidencing the depositary shares to be redeemed to Computershare Inc., as Depositary, at 150 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.
September 1, 2019 is also the final dividend payment date for the Series W Preferred Stock and the depositary shares. The record date for that dividend is August 2, 2019. Payment of the final dividend will be made on September 3, 2019, the first business day after the redemption date of September 1, 2019.
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.
Jason Scott, 212-270-2479
Joseph Evangelisti, 212-270-7438