Preferred Stock (Preferred Stock [Member])

12 Months Ended

Dec. 31, 2012

Preferred Stock [Member]

Class of Stock [Line Items]

Preferred stock

Preferred stock

At December 31, 2012 and 2011, JPMorgan Chase was authorized to issue 200 million shares of preferred stock, in one or more series, with a par value of $1 per share.

In the event of a liquidation or dissolution of the Firm, JPMorgan Chase’s preferred stock then outstanding takes precedence over the Firm’s common stock for the payment of dividends and the distribution of assets.

The following is a summary of JPMorgan Chase’s preferred stock outstanding as of December 31, 2012 and 2011.

	Contractual rate in effect at December 31, 2012		Sharesat December 31,(a)		Carrying value (in millions) at December 31,				Earliest redemption date	Share value and redemption price per share(b)
			2012	2011	2012		2011
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I	7.900	%	600,000	600,000	$	6,000	$	6,000	4/30/2018	$	10,000
8.625% Non-Cumulative Perpetual Preferred Stock, Series J	8.625	%	180,000	180,000	1,800		1,800		9/1/2013	10,000
5.50% Non-Cumulative Perpetual Preferred Stock, Series O	5.500	%	125,750	—	1,258		—		9/1/2017	10,000
Total preferred stock			905,750	780,000	$	9,058	$	7,800

(a) Represented by depositary shares.

(b) The redemption price includes the amount shown in the table plus any accrued but unpaid dividends.

Dividends on the Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I shares are payable semiannually at a fixed annual dividend rate of 7.90% through April 2018, and then become payable quarterly at an annual dividend rate of three-month LIBOR plus 3.47%. Dividends on the 8.625% Non-Cumulative Preferred Stock, Series J and on the 5.50% Non-Cumulative Preferred Stock, Series O are payable quarterly. The 5.50% Non-Cumulative was issued in August 2012.

On August 20, 2010, the Firm redeemed all of the outstanding shares of its 6.15% Cumulative Preferred Stock, Series E; 5.72%Cumulative Preferred Stock, Series F; and 5.49% Cumulative Preferred Stock, Series G at their stated redemption value.

Redemption rights

Each series of the Firm’s preferred stock may be redeemed on any dividend payment date on or after the earliest redemption date for that series. The Series O preferred stock may also be redeemed following a capital treatment event, as described in the terms of that series. Any redemption of the Firm’s preferred stock is subject to non-objection from the Federal Reserve.