JPMorgan Chase & Co. has commenced a cash tender offer for any and all of the following trust preferred securities:
– Global Floating Rate Capital Securities, Series B issued by Chase Capital II- Floating Rate Preferred Securities issued by First Chicago NBD Capital I- Floating Rate Capital Securities, Series C issued by Chase Capital III- Floating Rate Capital Securities, Series F issued by Chase Capital VI- Floating Rate Capital Securities, Series M issued by JPMorgan Chase Capital XIII- Floating Rate Capital Securities, Series U issued by JPMorgan Chase Capital XXI- Floating Rate Capital Securities, Series W issued by JPMorgan Chase Capital XXIII
The offer is being made pursuant to an Offer to Purchase dated today, which contains detailed information concerning the terms of the offer. The offer is scheduled to expire at 11:59 p.m., New York City time, on Tuesday, August 11, 2009, unless extended or earlier terminated (the “Expiration Date”). Any such extension will be followed by a public announcement no later than 9:00 a.m., New York City time, on the first business day after the previously scheduled Expiration Date. Tendered securities may be withdrawn prior to, but not after, the Expiration Date.
Plus accrued and unpaid distributions from the last payment date to, but not including, the settlement date for the applicable series of securities purchased pursuant to the offer. The settlement date is expected to be the business day following the Expiration Date. JPMorgan Chase is making the offer in order to provide liquidity to any holders of the trust preferred securities that wish to dispose of any or all of their securities.
The tender offer is conditioned upon the satisfaction of certain customary conditions described in the Offer to Purchase. The tender offer is not conditioned upon the tender of any minimum principal amount of securities. Subject to applicable law, JPMorgan Chase may, at its sole discretion, waive any condition applicable to the tender offer and may extend the tender offer. Under certain conditions and as more fully described in the Offer to Purchase, JPMorgan Chase may terminate the tender offer before the Expiration Date.
D.C.