Contractual rate in effect at December 31, 2013 | Shares at December 31,(a) | Carrying value (in millions) at December 31, | Earliest redemption date | Share value and redemption price per share(b) | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||
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 | N/A | — | 180,000 | — | 1,800 | 9/1/2013 | 10,000 | ||||||||||||||
5.50% Non-Cumulative Perpetual Preferred Stock, Series O | 5.500 | % | 125,750 | 125,750 | 1,258 | 1,258 | 9/1/2017 | 10,000 | |||||||||||||
5.45% Non-Cumulative Perpetual Preferred Stock, Series P | 5.450 | % | 90,000 | — | 900 | — | 3/1/2018 | 10,000 | |||||||||||||
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series Q | 5.150 | % | 150,000 | — | 1,500 | — | 5/1/2023 | 10,000 | |||||||||||||
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series R | 6.000 | % | 150,000 | — | 1,500 | — | 8/1/2023 | 10,000 | |||||||||||||
Total preferred stock | 1,115,750 | 905,750 | $ | 11,158 | $ | 9,058 | |||||||||||||||
(a) | Represented by depositary shares. |
(b) | The redemption price includes the amount shown in the table plus any accrued but unpaid dividends. |