UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. Other Events
On April 28, 2021, JPMorgan Chase & Co. issued a press release announcing the redemption on June 1, 2021 of all of the 57,000,000 outstanding depositary shares, each representing a 1/400th interest in a share of JPMorgan Chase & Co.’s 6.10% Non-Cumulative Preferred Stock, Series AA, par value $1.00 per share and with a liquidation preference of $10,000 (the “Series AA Preferred Stock”), and all of the 46,000,000 outstanding depositary shares, each representing a 1/400th interest in a share of JPMorgan Chase & Co.’s 6.15% Non-Cumulative Preferred Stock, Series BB, par value $1.00 per share and with a liquidation preference of $10,000 (the “Series BB Preferred Stock”), in each case pursuant to the optional redemption provisions provided in the documents governing such depositary shares and the Series AA Preferred Stock and the Series BB Preferred Stock.
A copy of the press release referenced above is attached hereto as Exhibit 99.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
| 99 | JPMorgan Chase & Co. press release dated April 30, 2021 | |
| 101 | Pursuant to Rule 406 of Regulation S-T, the cover page is formatted in Inline XBRL (Inline eXtensible Business Reporting Language). | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101). | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| JPMORGAN CHASE & CO. | ||
| (Registrant) | ||
| By: | /s/ Jordan A. Costa | |
| Name: | Jordan A. Costa | |
| Title: | Managing Director | |
Dated: April 30, 2021
Exhibit 99
| JPMorgan Chase & Co. 383 Madison Avenue, New York, NY 10179-0001 NYSE symbol: JPM www.jpmorganchase.com
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News release: IMMEDIATE RELEASE
JPMorgan Chase to Redeem
All $1.425 Billion of its 6.10% Non-Cumulative Preferred Stock, Series AA and
All $1.15 Billion of its 6.15% Non-Cumulative Preferred Stock, Series BB
Represented By Depositary Shares
New York, April 30, 2021 – JPMorgan Chase & Co. (NYSE: JPM) (“JPMorgan Chase” or the “Firm”) 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 PR 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 PR 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).
Payment of the redemption price will be made on June 1, 2021, 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.
June 1, 2021 is also the final dividend payment date for the Series AA Preferred Stock and Series BB Preferred Stock and the depositary shares representing the Series AA Preferred Stock and Series BB Preferred Stock. The record date for those dividends is May 3, 2021.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $3.7 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
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Investor Contact: |
Reggie Chambers |
Media Contact: Joseph Evangelisti | ||
| 212-270-2479 | 212-270-7438 |
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.
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Investor Contact: |
Reggie Chambers |
Media Contact: Joseph Evangelisti | ||
| 212-270-2479 | 212-270-7438 |