JPMorgan Chase Pays Back Full $25 Billion In TARP Funds
By admin - Posted on June 18th, 2009
Tagged: Banking
• banks
• Business
• Finance
• JPMorgan Chase
• TARP
• Treasury Dept.
• Wall Street bailout
New York, June 17, 2009 -- JPMorgan Chase & Co. (NYSE: JPM) announced today that it repaid in full the $25 billion preferred stock investment it accepted through the Troubled Asset Relief Program (TARP).
In addition to this principal amount, JPMorgan Chase has paid the U. S. Treasury an aggregate of $795,138,889 in dividends on the preferred stock, including dividends that had accrued through the redemption date.
The company will also notify the U.S. Treasury today of its intent to repurchase the 10-year warrant issued to the Treasury in connection with the preferred investment.
Source: JPMorgan Chase
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