JPMorgan Chase & Co Sells 6.125% Non-Cumulative Preferred Stock Series Y
By: Tim McPartland,
JPMorgan Chase has sold a new preferred offering.
The shares are non-cumulative and are typical traditional preferred shares–redeemable in 5 years, qualified dividends and quarterly paying. The issue is investment grade.
This issue began trading on the OTC market on Friday and you can buy the issue ‘wholesale’ now for $24.80-24.90.
Details of the issue are here.
JPMorgan Chase currently has 3 other issues trading and it is always advisable to check these older issues to find out how they are trading relative to the new shares. Thecomparison page (swaps) is here.