JPMorgan Raises $1.5 Billion Offering Fixed-, Floating-Rate Debt

JPMorgan Chase & Co. (JPM), the largest U.S. bank by assets, raised $1.5 billion in an offering of two- year fixed- and floating-rate bonds.

The bank’s $1.25 billion of floating-rate securities yield 45 basis points more than the three-month London interbank offered rate and its $250 million of 0.8 percent debt yields 59 basis points more than similar-maturity Treasuries, according to data compiled by Bloomberg.

The bonds may be rated A2 by Moody’s Investors Service, according to a person familiar with the transaction, who asked not to be identified citing lack of authorization to speak publicly.

JPMorgan’s $1.65 billion of 3.4 percent notes due June 2015 traded yesterday at 105.7 cents on the dollar to yield 0.77 percent, or 54.2 basis points over Treasuries, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.

To contact the reporter on this story: Sarika Gangar in New York at sgangar@bloomberg.net

To contact the editor responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net

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