Giant Banker JPMorgan Chase to Sell New Preferred

JPMorgan Chase (JPM) has announced a new issuance of preferred stock.

The issue is non-cumulative, but will be qualified for preferential tax treatment.

The banker has a number of other issues outstanding and they mention the possibility of redeeming some of the issues with the proceeds of this new issue. The 6.10% JPM-G and 6.15% JPM-H are currently in the early redemption period.

The preliminary prospectus can be read here.

EarlyBird was early on this one. If you Prefer chimed in with ‘yield talk’ in the 4.874% area.

14 thoughts on “Giant Banker JPMorgan Chase to Sell New Preferred”

  1. I missed the JPM-C issue when it stated trading and then again this past March crash because I committed capital toward other securities

    If rates are rising will there really ever be a risk in the securities that were issued before the last rate rate scare?

  2. How the mighty have fallen. Big banks could issue at 4 1/8 just a month ago.

  3. This is the type of company I would jump all over like stink on —— but just can’t do it with that type of a coupon. Down the road is what goes thru my mind and as rates start to rise where would this thing be in say 2 years or so.

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