Summary
JPMorgan Chase & Co. (JPM) has announced the redemption of its Series Z Preferred Stock, effective February 1, 2022. This action involves the redemption of all 2,000,000 outstanding depositary shares, each representing a one-tenth interest in the preferred stock. The redemption is being executed under the optional redemption provisions outlined in the governing documents for these securities.
Key Highlights
- 1JPM is redeeming all outstanding Series Z Preferred Stock.
- 2The redemption date is February 1, 2022.
- 32,000,000 depositary shares are being redeemed.
- 4Each depositary share represents a 1/10th interest in a share of Series Z Preferred Stock.
- 5The redemption is an optional call by JPM.
- 6A press release dated December 31, 2021, details this event.
- 7The filing includes the press release as an exhibit.