Summary
JPMorgan Chase & Co. (JPM) has announced the redemption of its Series HH Fixed-to-Floating Rate Non-Cumulative Preferred Stock. This action, detailed in a press release dated January 27, 2025, involves the repurchase of all 3,000,000 outstanding depositary shares, each representing a tenth interest in a share of the preferred stock. The redemption is scheduled to occur on February 1, 2025, and is being executed under the optional redemption provisions outlined in the governing documents for these securities.
Key Highlights
- 1JPMorgan Chase & Co. is redeeming all outstanding Series HH Preferred Stock.
- 2The redemption affects 3,000,000 depositary shares.
- 3The redemption date is set for February 1, 2025.
- 4This action is based on the optional redemption provisions of the governing documents.
- 5The Series HH Preferred Stock is a Fixed-to-Floating Rate Non-Cumulative Preferred Stock with a $10,000 liquidation preference per share.
- 6The filing includes an attached press release announcing the redemption as Exhibit 99.1.