Rochester, NY 8/6/2009 7:57:09 PM
Jp Morgan Chase Co, JPM - Gains $1.3 Billion from CreditSights
JP MORGAN CHASE CO
JP MORGAN CHASE CO, JPM
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JPMorgan may book a gain of as much as $1.3 billion if investors take the firm up on its offer to buy back up to $3.4 billion in trust preferred securities, analysts at CreditSights said on Wednesday.
JPMorgan on Tuesday offered to buy back up to $3.4 billion in trust preferreds, or TruPS, offering 60 percent of the par value for some issues and 63 percent of the par value of other bonds.
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