| Schedule of stock by class |
The following is a summary of JPMorgan Chase’s non-cumulative preferred stock outstanding as of December 31, 2021 and 2020. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Shares(a) | | Carrying value
(in millions) | | Issue date | Contractual rate
in effect at
December 31, 2021 | Earliest redemption date(b) | Floating annualized rate(c) | Dividend declared per share(d) | | | December 31, | | December 31, | | Year ended December 31, | | | 2021 | 2020 | | 2021 | 2020 | 2021 | 2020 | 2019 | | Fixed-rate: | | | | | | | | | | | | | | | Series P | — | | — | | | $ | — | | $ | — | | | 2/5/2013 | — | % | 3/1/2018 | NA | $— | $— | $545.00 | | Series T | — | | — | | | — | | — | | | 1/30/2014 | — | | 3/1/2019 | NA | — | — | 167.50 | | Series W | — | | — | | | — | | — | | | 6/23/2014 | — | | 9/1/2019 | NA | — | — | 472.50 | | | Series Y | — | | — | | | — | | — | | | 2/12/2015 | — | | 3/1/2020 | NA | — | 153.13 | 612.52 | | Series AA | — | | 142,500 | | | — | | 1,425 | | | 6/4/2015 | — | | 9/1/2020 | NA | 305.00 | 610.00 | 610.00 | | Series BB | — | | 115,000 | | | — | | 1,150 | | | 7/29/2015 | — | | 9/1/2020 | NA | 307.50 | 615.00 | 615.00 | | Series DD | 169,625 | | 169,625 | | | 1,696 | | 1,696 | | | 9/21/2018 | 5.750 | | 12/1/2023 | NA | 575.00 | 575.00 | 575.00 | | Series EE | 185,000 | | 185,000 | | | 1,850 | | 1,850 | | | 1/24/2019 | 6.000 | | 3/1/2024 | NA | 600.00 | 600.00 | 511.67 | (e) | Series GG | 90,000 | | 90,000 | | | 900 | | 900 | | | 11/7/2019 | 4.750 | | 12/1/2024 | NA | 475.00 | 506.67 | NA | (e) | | Series JJ | 150,000 | | — | | | 1,500 | | — | | | 3/17/2021 | 4.550 | | 6/1/2026 | NA | 321.03 | NA | NA | (e) | | Series LL | 185,000 | | — | | | 1,850 | | — | | | 5/20/2021 | 4.625 | | 6/1/2026 | NA | 245.39 | NA | NA | (e) | | Series MM | 200,000 | | — | | | 2,000 | | — | | | 7/29/2021 | 4.200 | | 9/1/2026 | NA | 142.33 | NA | NA | (e) | | | | | | | | | | | | | | | | Fixed-to-floating-rate: | | | | | | | | | | | | | | Series I | 293,375 | | 293,375 | | | $ | 2,934 | | $ | 2,934 | | | 4/23/2008 | LIBOR + 3.47% | 4/30/2018 | LIBOR + 3.47% | $370.38 | $428.03 | $593.23 | | Series Q | 150,000 | | 150,000 | | | 1,500 | | 1,500 | | | 4/23/2013 | 5.150 | | 5/1/2023 | LIBOR + 3.25 | 515.00 | 515.00 | 515.00 | | Series R | 150,000 | | 150,000 | | | 1,500 | | 1,500 | | | 7/29/2013 | 6.000 | | 8/1/2023 | LIBOR + 3.30 | 600.00 | 600.00 | 600.00 | | | Series S | 200,000 | | 200,000 | | | 2,000 | | 2,000 | | | 1/22/2014 | 6.750 | | 2/1/2024 | LIBOR + 3.78 | 675.00 | 675.00 | 675.00 | | Series U | 100,000 | | 100,000 | | | 1,000 | | 1,000 | | | 3/10/2014 | 6.125 | | 4/30/2024 | LIBOR + 3.33 | 612.50 | 612.50 | 612.50 | | | Series V | 250,000 | | 250,000 | | | 2,500 | | 2,500 | | | 6/9/2014 | LIBOR + 3.32% | 7/1/2019 | LIBOR + 3.32 | 353.65 | 436.85 | 534.09 | (f) | Series X | 160,000 | | 160,000 | | | 1,600 | | 1,600 | | | 9/23/2014 | 6.100 | | 10/1/2024 | LIBOR + 3.33 | 610.00 | 610.00 | 610.00 | | Series Z | 200,000 | | 200,000 | | | 2,000 | | 2,000 | | | 4/21/2015 | LIBOR + 3.80% | 5/1/2020 | LIBOR + 3.80 | 401.44 | 453.52 | 530.00 | (g) | Series CC | 125,750 | | 125,750 | | | 1,258 | | 1,258 | | | 10/20/2017 | 4.625 | | 11/1/2022 | LIBOR + 2.58 | 462.50 | 462.50 | 462.50 | | Series FF | 225,000 | | 225,000 | | | 2,250 | | 2,250 | | | 7/31/2019 | 5.000 | | 8/1/2024 | SOFR + 3.38 | 500.00 | 500.00 | 251.39 | (e) | | Series HH | 300,000 | | 300,000 | | | 3,000 | | 3,000 | | | 1/23/2020 | 4.600 | | 2/1/2025 | SOFR + 3.125 | 460.00 | 470.22 | NA | (e) | | Series II | 150,000 | | 150,000 | | | 1,500 | | 1,500 | | | 2/24/2020 | 4.000 | | 4/1/2025 | SOFR + 2.745 | 400.00 | 341.11 | NA | (e) | | Series KK | 200,000 | | — | | | 2,000 | | — | | | 5/12/2021 | 3.650 | | 6/1/2026 | CMT + 2.85 | 201.76 | NA | NA | (e) | | Total preferred stock | 3,483,750 | | 3,006,250 | | | $ | 34,838 | | $ | 30,063 | | | | | | | | | | |
(a)Represented by depositary shares. (b)Fixed-to-floating rate notes convert to a floating rate at the earliest redemption date. (c)Floating annualized rate includes three-month LIBOR, three-month term SOFR or five-year Constant Maturity Treasury ("CMT") rate, as applicable, plus the spreads noted above. (d)Dividends are declared quarterly. Dividends are payable quarterly on fixed-rate preferred stock. Dividends are payable semiannually on fixed-to-floating-rate preferred stock while at a fixed rate, and payable quarterly after converting to a floating rate. (e)The initial dividend declared is prorated based on the number of days outstanding for the period. Dividends were declared quarterly thereafter at the contractual rate. (f)The dividend rate for Series V preferred stock became floating and payable quarterly starting on July 1, 2019; prior to which the dividend rate was fixed at 5% or $250.00 per share payable semi annually. (g)The dividend rate for Series Z preferred stock became floating and payable quarterly starting on May 1, 2020; prior to which the dividend rate was fixed at 5.3% or $265.00 per share payable semi annually. Common shares issued (reissuances from treasury) by JPMorgan Chase during the years ended December 31, 2021, 2020 and 2019 were as follows. | | | | | | | | | | | | Year ended December 31,
(in millions) | 2021 | 2020 | 2019 | Total issued – balance at January 1 | 4,104.9 | | 4,104.9 | | 4,104.9 | | | Treasury – balance at January 1 | (1,055.5) | | (1,020.9) | | (829.1) | | | Repurchase | (119.7) | | (50.0) | | (213.0) | | | Reissuance: | | | | Employee benefits and compensation plans | 13.5 | | 14.2 | | 20.4 | | | | | | Employee stock purchase plans | 0.9 | | 1.2 | | 0.8 | | | Total reissuance | 14.4 | | 15.4 | | 21.2 | | Total treasury – balance at December 31 | (1,160.8) | | (1,055.5) | | (1,020.9) | | | Outstanding at December 31 | 2,944.1 | | 3,049.4 | | 3,084.0 | |
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| Schedule of common equity repurchases |
The following table sets forth the Firm’s repurchases of common stock for the years ended December 31, 2021, 2020 and 2019. | | | | | | | | | | | | | | | | | | | | | | Year ended December 31, (in millions) | | 2021 | | 2020(a) | | 2019 | Total number of shares of common stock repurchased | | 119.7 | | | 50.0 | | | 213.0 | | Aggregate purchase price of common stock repurchases | | $ | 18,448 | | | $ | 6,397 | | | $ | 24,121 | | | | | | | | | | | | | | | |
(a)On March 15, 2020, in response to the economic disruptions caused by the COVID-19 pandemic, the Firm temporarily suspended repurchases of its common stock. Subsequently, the Federal Reserve directed all large banks, including the Firm, to discontinue net share repurchases through the end of 2020.
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