(Bloomberg) — JPMorgan Chase & Co. sold US$9 billion of bonds in the U.S. investment-grade market, the first in what’s expected to be a flood of issuance from Wall Street’s six biggest banks.
The biggest U.S. bank issued bonds in four parts, according to a person with knowledge of the matter. The longest portion of the offering, an 11-year security, yields 1.07 percentage point, or 107 basis points above Treasuries, after initial discussions of around 135 basis points, said the person, who asked not to be identified as the details are private.
The deal comes after the bank reported record profit as investment bankers and equities traders smashed expectations and the firm took a multibillion-dollar gain tied to a Visa Inc. share exchange.
A representative for JPMorgan…
