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.
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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.
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Tim McPartland
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Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
