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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Securities registered pursuant to Section 12(b) of the Act:
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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 September 30, 2022, JPMorgan Chase & Co. issued a press release announcing the redemption on October 31, 2022 of all of the 2,933,750 outstanding depositary shares, each representing a one-tenth interest in a share of JPMorgan Chase & Co.’s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I, par value $1.00 per share and with a liquidation preference of $10,000 (the “Series I Preferred Stock”), pursuant to the optional redemption provisions in the documents governing such depositary shares and the Series I 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 September 30, 2022. | |
| 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: September 30, 2022
Exhibit 99
JPMorgan Chase & Co.
383 Madison Avenue, New York, NY 10179-0001
NYSE symbol: JPM
www.jpmorganchase.com
News release: IMMEDIATE RELEASE
JPMorgan Chase To Redeem All $2.9 Billion Of Its Fixed-to-Floating Rate
Non-Cumulative Perpetual Preferred Stock, Series I
Represented By Depositary Shares
New York, September 30, 2022 – JPMorgan Chase & Co. (NYSE: JPM) (“JPMorgan Chase” or the “Firm”) has announced that on October 31, 2022 it will redeem all of the 293,375 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 2,933,750 depositary shares (CUSIP: 46625HHA1), with each depositary share representing a one-tenth interest in a share of Series I Preferred Stock. The redemption price per share for the Series I Preferred Stock will be $10,000 (equivalent to $1,000 per depositary share).
Payment of the redemption price will be made on the redemption date of October 31, 2022, 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.
October 31, 2022 is also the final dividend payment date for the Series I Preferred Stock and the depositary shares. The record date for that dividend is September 30, 2022.
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorgan Chase had $3.8 trillion in assets and $286.1 billion in stockholders’ equity as of June 30, 2022. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
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| Investor Contact: | Mikael Grubb | Media Contact: | Joseph Evangelisti | |||
| 212-270-2479 | 212-270-7438 |