JPMorgan Doubles Offering to Sell $1.1 Billion of Preferreds
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JPMorgan Chase & Co., the largest U.S. lender by assets, sold $1.1 billion of perpetual preferred shares, more than double what it had planned, after selling $2.5 billion of bonds earlier this month.
The bank issued $25 shares, callable after five years, to yield 5.5 percent, Bloomberg data show. The offering was earlier marketed at $500 million, according to a person familiar with the transaction.