JPMorgan Chase & Co. has completed its previously announced internal restructuring transactions related to the acquisition of The Bear Stearns Companies LLC (formerly known as The Bear Stearns Companies Inc.). On 31 July 2008, in connection with the transfer to JPMorgan Chase of Bear, Stearns & Co. Inc., Bear Stearns broker dealer, JPMorgan Chase assumed all of Bear Stearns then-outstanding SEC-registered US debt securities and Bear Stearns obligations relating to trust preferred securities.
The SEC-registered US debt securities and obligations relating to the trust preferred securities were previously guaranteed by JPMorgan Chase on 15 July 2008, as an initial step in the restructuring transactions. On 31 July 2008, JPMorgan Chase also (1) assumed certain of Bear Stearns then-outstanding foreign debt securities and certain of Bear Stearns guarantees of then-outstanding foreign debt securities issued by subsidiaries of Bear Stearns, in each case, in accordance with the agreements and indentures governing these securities and (2) guaranteed Bear Stearns obligations under Bear Stearns US $30.0 billion Euro Medium Term Note Programme and Bear Stearns US $4.0 billion Euro Note Issuance Programme.