Summary
JPMorgan Chase & Co. (JPM) has filed an amendment (8-K/A) to a previous 8-K report, primarily to include an "Amended and Restated Amendment to Replacement Capital Covenants" dated October 27, 2010. This filing serves to update previous agreements related to capital securities and preferred stock offerings. The core purpose of these amendments is to modify certain provisions of existing Replacement Capital Covenants. These covenants were originally established in connection with various capital securities offerings by affiliated trusts and preferred stock issuances by JPM. The latest amendment restates a previous amendment from October 15, 2010, and additionally incorporates modifications to a specific covenant related to the 8.625% Non-Cumulative Preferred Stock, Series J.
Key Highlights
- 1This filing is an amendment (8-K/A) to a prior Form 8-K report.
- 2The amendment adds an "Amended and Restated Amendment to Replacement Capital Covenants" dated October 27, 2010, as an exhibit.
- 3The purpose is to modify existing 'Replacement Capital Covenants' which were tied to capital securities and preferred stock issuances.
- 4The Restated Amendment amends and restates a prior amendment dated October 15, 2010.
- 5It specifically includes amendments to the covenant related to the 8.625% Non-Cumulative Preferred Stock, Series J.
- 6These covenants were established in favor of 'Covered Debtholders' of affiliated Delaware trusts and JPM's preferred stock.
- 7No new financial results or significant operational updates are reported; the filing is procedural concerning debt covenants.