JPMorgan Chase & Co. issued 300,000 shares of 6.100% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series PP, deposited into 3,000,000 depositary shares on May 7, 2026.
Key takeaways
Issued 300,000 shares of Series PP Preferred Stock with $10,000 liquidation preference per share.
Each preferred share represents 10 depositary shares traded publicly via Computershare Inc.
Initial dividend rate of 6.100% per annum until July 1, 2031, then resets to 5-year Treasury Rate plus 2.080% spread.
Dividends non-cumulative, quarterly on Jan 1, Apr 1, Jul 1, Oct 1 starting Jul 1, 2026.
Restrictions on common stock dividends/redemptions if Series PP dividends unpaid.
Filed Certificate of Designations on May 6, 2026 with Delaware Secretary of State.