JP Morgan Chase 2015 Annual Report Download - page 291

JPMorgan Chase & Co./2015 Annual Report 281
The following is a summary of the outstanding trust preferred securities, including unamortized original issue discount, issued
by each trust, and the junior subordinated deferrable interest debenture issued to each trust, as of December 31, 2015.
December 31, 2015
(in millions)
Amount of trust
preferred
securities
issued by trust(a)
Principal
amount of
debenture
issued to trust(b)
Issue
date
Stated maturity
of trust
preferred
securities and
debentures
Earliest
redemption
date
Interest rate of
trust preferred
securities and
debentures
Interest
payment/
distribution
dates
BANK ONE Capital III $ 474 $ 717 2000 2030 Any time 8.75% Semiannually
Chase Capital II 483 496 1997 2027 Any time LIBOR + 0.50% Quarterly
Chase Capital III 296 304 1997 2027 Any time LIBOR + 0.55% Quarterly
Chase Capital VI 242 248 1998 2028 Any time LIBOR + 0.625% Quarterly
First Chicago NBD Capital I 249 256 1997 2027 Any time LIBOR + 0.55% Quarterly
J.P. Morgan Chase Capital XIII 466 477 2004 2034 Any time LIBOR + 0.95% Quarterly
JPMorgan Chase Capital XXI 836 832 2007 2037 Any time LIBOR + 0.95% Quarterly
JPMorgan Chase Capital XXIII 644 639 2007 2047 Any time LIBOR + 1.00% Quarterly
Total $ 3,690 $ 3,969
(a) Represents the amount of trust preferred securities issued to the public by each trust, including unamortized original-issue discount.
(b) Represents the principal amount of JPMorgan Chase debentures issued to each trust, including unamortized original-issue discount. The principal amount
of debentures issued to the trusts includes the impact of hedging and purchase accounting fair value adjustments that were recorded on the Firm’s
Consolidated Financial Statements.
On April 2, 2015, the Firm redeemed $1.5 billion, or 100%
of the liquidation amount, of the guaranteed capital debt
securities (“trust preferred securities”) of JPMorgan Chase
Capital XXIX trust preferred securities. On May 8, 2013, the
Firm redeemed approximately $5.0 billion, or 100% of the
liquidation amount, of the following eight series of trust
preferred securities: JPMorgan Chase Capital X, XI, XII, XIV,
XVI, XIX and XXIV, and BANK ONE Capital VI. Other income
for the year ended December 31, 2013, reflected a modest
loss related to the redemption of trust preferred securities.