JPMorgan guarantees Bear debt, preferred stock

NEW YORK (Reuters) - JPMorgan Chase & Co (JPM.N) said on Monday it is taking over Bear Stearns' assets, and pending completion of that move, effective immediately, it has guaranteed all of Bear's debt securities, preferred stock and trust preferred securities.

JPMorgan said that because it is assuming Bear's assets, Bear Stearns will cease to file separate reports with the Securities and Exchange Commission.

(Reporting by Elinor Comlay; editing by John Wallace)