Summary
JPMorgan Chase & Co. (JPM) has announced the redemption of its Series KK Preferred Stock, a significant event for holders of these specific securities. On May 27, 2026, the company issued a press release detailing the upcoming redemption of all outstanding depositary shares representing interests in its 3.65% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series KK. This redemption will occur on June 1, 2026, and is being executed under the optional redemption provisions outlined in the governing documents for these securities. This action indicates a strategic financial management decision by JPMorgan Chase. Investors holding the Series KK Preferred Stock should be aware that their investment will be paid back at its liquidation preference of $10,000 per share (represented by the depositary shares) on the specified redemption date. The press release, attached as an exhibit to this 8-K filing, provides the official announcement and confirms the details of this redemption process. While this specific preferred stock issuance is being retired, it is important for investors to review their overall holdings and understand how this impacts their investment strategy with JPM.
Key Highlights
- 1JPMorgan Chase & Co. (JPM) announced the redemption of all outstanding Series KK Preferred Stock.
- 2The redemption date is set for June 1, 2026.
- 3The redemption applies to 2,000,000 outstanding depositary shares, each representing a tenth interest in the preferred stock.
- 4The Series KK Preferred Stock has a fixed dividend rate of 3.65% and a liquidation preference of $10,000 per share.
- 5The redemption is being executed under the optional redemption provisions specified in the security's governing documents.
- 6A press release announcing the redemption was issued on May 27, 2026, and is included as an exhibit.