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