Corporate ActionMay 27, 2026, 04:42 PM
JPMorgan to Redeem All $2.0B Series KK Preferred Stock on June 1
AI Summary
JPMorgan Chase & Co. announced its plan to redeem all 2,000,000 outstanding depositary shares, representing its 3.65% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series KK, on June 1, 2026. The total redemption value for these shares amounts to $2.0 billion. The redemption price is set at $1,000 per depositary share, and the redemption date will also serve as the final dividend payment date for the Series KK Preferred Stock.
Key Highlights
- JPMorgan will redeem all 2,000,000 outstanding depositary shares of its Series KK Preferred Stock.
- The total redemption value for the Series KK Preferred Stock is $2.0 billion.
- The redemption date is scheduled for June 1, 2026.
- The redemption price is $1,000 per depositary share.
- June 1, 2026, will also be the final dividend payment date for the Series KK Preferred Stock.
- The record date for the final dividend was May 4, 2026.
Price Impact
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