Long-Term debt (Tables)

12 Months Ended

Dec. 31, 2013

Long-term debt carrying values by contractual maturity

The following table is a summary of long-term debt carrying values (including unamortized original issue discount, valuation adjustments and fair value adjustments, where applicable) by remaining contractual maturity as of December 31, 2013.



By remaining maturity at December 31,		2013												2012
(in millions, except rates)		Under 1 year			1-5 years			After 5 years			Total			Total
Parent company
Senior debt:	Fixed rate	$	11,100		$	49,241		$	40,733		$	101,074		$	99,716
	Variable rate	12,411			22,790			5,829			41,030			38,765
	Interest rates^(a)	0.38-6.25%			0.35-7.25%			0.19-6.40%			0.19-7.25%			0.26-7.25%
Subordinated debt:	Fixed rate	$	2,904		$	4,966		$	7,328		$	15,198		$	16,312
	Variable rate	—			4,557			9			4,566			3,440
	Interest rates^(a)	1.92-5.13%			0.63-6.13%			3.38-8.53%			0.63-8.53%			0.61-8.53%
	Subtotal	$	26,415		$	81,554		$	53,899		$	161,868		$	158,233
Subsidiaries
Federal Home Loan Banks ("FHLB") advances:	Fixed rate	$	1,029		$	2,022		$	185		$	3,236		$	4,712
	Variable rate	11,050			39,590			8,000			58,640			37,333
	Interest rates^(a)	0.20-1.54%			0.16-2.04%			0.36-0.43%			0.16-2.04%			0.30-2.04%
Senior debt:	Fixed rate	$	347		$	1,655		$	3,426		$	5,428		$	6,761
	Variable rate	6,593			14,117			2,748			23,458			21,607
	Interest rates^(a)	0.12-3.75%			0.21-8.00%			7.28		%	0.12-8.00%			0.16-7.28%
Subordinated debt:	Fixed rate	$	—		$	5,445		$	1,841		$	7,286		$	7,513
	Variable rate	—			2,528			—			2,528			2,466
	Interest rates^(a)	—		%	0.57-6.00%			4.38-8.25%			0.57-8.25%			0.64-8.25%
	Subtotal	$	19,019		$	65,357		$	16,200		$	100,576		$	80,392
Junior subordinated debt:	Fixed rate	$	—		$	—		$	2,176		$	2,176		$	7,131
	Variable rate	—			—			3,269			3,269			3,268
	Interest rates^(a)	—		%	—		%	0.74-8.75%			0.74-8.75%			0.81-8.75%
	Subtotal	$	—		$	—		$	5,445		$	5,445		$	10,399
Total long-term debt^(b)(c)(d)		$	45,434		$	146,911		$	75,544		$	267,889	^(f)(g)	$	249,024
Long-term beneficial interests:
	Fixed rate	$	353		$	7,537		$	3,068		$	10,958		$	10,393
	Variable rate	3,438			13,056			4,378			20,872			24,579
	Interest rates	0.19-5.63%			0.19-5.35%			0.04-15.93%			0.04-15.93%			0.23-13.91%
Total long-term beneficial interests^(e)		$	3,791		$	20,593		$	7,446		$	31,830		$	34,972

(a)

The interest rates shown are the range of contractual rates in effect at year-end, including non-U.S. dollar fixed- and variable-rate issuances, which excludes the effects of the associated derivative instruments used in hedge accounting relationships, if applicable. The use of these derivative instruments modifies the Firm’s exposure to the contractual interest rates disclosed in the table above. Including the effects of the hedge accounting derivatives, the range of modified rates in effect at December 31, 2013, for total long-term debt was (0.18)% to 8.00%, versus the contractual range of 0.12% to 8.75% presented in the table above. The interest rate ranges shown exclude structured notes accounted for at fair value.


(b)	Included long-term debt of $68.4 billion and $48.0 billion secured by assets totaling $131.3 billion and $112.8 billion at December 31, 2013 and 2012, respectively. The amount of long-term debt secured by assets does not include amounts related to hybrid instruments.


(c)	Included $28.9 billion and $30.8 billion of long-term debt accounted for at fair value at December 31, 2013 and 2012, respectively.


(d)	Included $2.7 billion and $1.6 billion of outstanding zero-coupon notes at December 31, 2013 and 2012, respectively. The aggregate principal amount of these notes at their respective maturities is $4.5 billion and $3.0 billion, respectively.

(e)

Included on the Consolidated Balance Sheets in beneficial interests issued by consolidated VIEs. Also included $2.0 billion and $1.2 billion of outstanding structured notes accounted for at fair value at December 31, 2013 and 2012, respectively. Excluded short-term commercial paper and other short-term beneficial interests of $17.8 billion and $28.2 billion at December 31, 2013 and 2012, respectively.


(f)	At December 31, 2013, long-term debt in the aggregate of $24.6 billion was redeemable at the option of JPMorgan Chase, in whole or in part, prior to maturity, based on the terms specified in the respective notes.


(g)	The aggregate carrying values of debt that matures in each of the five years subsequent to 2013 is $45.4 billion in 2014, $43.3 billion in 2015, $36.3 billion in 2016, $32.5 billion in 2017 and $34.8 billion in 2018.

Outstanding trust preferred capital debt securities

The following is a summary of the outstanding trust preferred securities, including unamortized original issue discount, issued by each trust, and the junior subordinated deferrable interest debenture issued to each trust, as of December 31, 2013.



December 31, 2013 (in millions)	Amount of trust preferred securities issued by trust^(a)		Principal amount of debenture issued to trust^(b)		Issue date	Stated maturity of trust preferred securities and debentures	Earliest redemption date	Interest rate of trust preferred securities and debentures	Interest payment/distribution dates
Bank One Capital III	$	474	$	675	2000	2030	Any time	8.75%	Semiannually
Chase Capital II	482		498		1997	2027	Any time	LIBOR + 0.50%	Quarterly
Chase Capital III	296		305		1997	2027	Any time	LIBOR + 0.55%	Quarterly
Chase Capital VI	241		249		1998	2028	Any time	LIBOR + 0.625%	Quarterly
First Chicago NBD Capital I	249		257		1997	2027	Any time	LIBOR + 0.55%	Quarterly
JPMorgan Chase Capital XIII	465		480		2004	2034	2014	LIBOR + 0.95%	Quarterly
JPMorgan Chase Capital XXI	836		837		2007	2037	Any time	LIBOR + 0.95%	Quarterly
JPMorgan Chase Capital XXIII	643		644		2007	2047	Any time	LIBOR + 1.00%	Quarterly
JPMorgan Chase Capital XXIX	1,500		1,500		2010	2040	2015	6.70%	Quarterly
Total	$	5,186	$	5,445


(a)	Represents the amount of trust preferred securities issued to the public by each trust, including unamortized original issue discount.


(b)	Represents the principal amount of JPMorgan Chase debentures issued to each trust, including unamortized original-issue discount. The principal amount of debentures issued to the trusts includes the impact of hedging and purchase accounting fair value adjustments that were recorded on the Firm’s Consolidated Financial Statements.