DBRS Discontinues Ratings of Various JPM Capital Trust Preferred and Bank One Preferred Securities

DBRS, Inc. (DBRS) has today discontinued the ratings of the Trust Preferred Securities issued by J. P. Morgan Chase Capital X, J. P. Morgan Chase Capital XI, J. P. Morgan Chase Capital XII, JPMorgan Chase Capital XIV, JPMorgan Chase Capital XVI, JPMorgan Chase Capital XIX and the Preferred Securities issued by BANK ONE Capital VI. The securities were redeemed on May 8, 2013.

JPMorgan Chase & Co.’s ratings, including its Issuer & Senior Debt rating of A (high) with Stable trend, are unaffected by today’s action.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The principal applicable methodology is the Global Methodology for Rating Banks and Banking Organizations. Other applicable methodologies include the DBRS Criteria – Intrinsic and Support Assessments, DBRS Criteria: Bank and Bank Holding Company Trust Preferred Securities, DBRS Criteria: Rating Bank Subordinated Debt & Hybrid Instruments with Discretionary Payments and DBRS Criteria: Rating Bank Preferred Shares & Equivalent Hybrids. These can be found at: http://www.dbrs.com/about/methodologies

[Amended on December 29, 2014 to reflect actual methodologies used.]

The sources of information used for this rating include company documents and SNL Financial. DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

This is an unsolicited rating. This credit rating was not initiated at the request of the issuer and did not include participation by the issuer or any related third party.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

Lead Analyst: William Schwartz
Approver: Roger Lister
Initial Rating Date: 24 July 2001
Most Recent Rating Update: 21 December 2012

For additional information on this rating, please refer to the linking document under Related Research.