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.
That whole deal P issed me off
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?
Continuing to refuse to buy at less than 5% for IG issues.
How the mighty have fallen. Big banks could issue at 4 1/8 just a month ago.
Oh jeez 4.55…thats the biggest move down I’ve ever seen
Priced @ 4.60
Done deal
I got bad info when I was told it priced @ 4.60.
It did price @ 4.55.
4.5 to 4.625% wouldn’t surprise me.
what is the otc symbol?
rod,
I get the OTC symbols from this site. Still waiting for it to show here.
Might appear later today or early tomorrow. Check this site periodically:
https://otce.finra.org/otce/dailyList?viewType=Additions
Thanks for sharing that site
Thanks for posting this site.
I just looked and otc symbol seems to be JPMJL
Jpm pr J is there 4 75 and it’s trading pretty well
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.