JPMorganChase to Redeem All $1.6 Billion of Series X Preferred Stock Represented by Depositary Shares
JPMorgan Chase & Co. (NYSE: JPM) (“JPMorganChase” or the “Firm”) has announced its plan to redeem all 160,000 outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series X (“Series X Preferred Stock”) on October 1, 2024. These shares are represented by 1,600,000 depositary shares (CUSIP: 48126HAC4), with each depositary share corresponding to a one-tenth interest in a share of Series X Preferred Stock. The redemption price will be $10,000 per share of Series X Preferred Stock, equivalent to $1,000 per depositary share.
The payment of the redemption price will be made on the redemption date, October 1, 2024, upon presentation and surrender of the depositary receipts evidencing the depositary shares to Computershare Inc., the Depositary, at 150 Royall Street, Canton, Massachusetts 02021. Depositary shares held in book-entry form must be surrendered according to the applicable procedures of The Depository Trust Company.
October 1, 2024, will also serve as the final dividend payment date for the Series X Preferred Stock and the depositary shares, with a record date of September 3, 2024, for the dividend.
JPMorgan Chase & Co., based in the United States, is a leading financial services firm with global operations. As of June 30, 2024, JPMorganChase had $4.1 trillion in assets and $341 billion in stockholders’ equity. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. Operating under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S. and many prominent corporate, institutional, and government clients globally. Further information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
