JPMorgan to redeem all $1.3 billion 5.5% series O preferred stock

By Sarah Lizee

Olympia, Wash., Oct. 31 – JPMorgan Chase & Co. said it will redeem all $1.3 billion of its 5.5% series O noncumulative preferred stock on Dec. 1, according to a press release.

The 125,750 outstanding shares are represented by 50.3 million depositary shares that are currently traded on the New York Stock Exchange under the symbol “JPM-D.”

Each depositary share represents a 1/400th interest in a share of series O preferred stock.

The redemption price per share for the preferred stock will be $10,000, equivalent to $25.00 per depositary share.

JPMorgan is a New York-based financial services firm.

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