JPM Sells $6B of FDIC-Backed Notes

JPMorgan Chase & Co., the largest U.S. bank by assets, sold $6 billion of notes guaranteed by the Federal Deposit Insurance Corp., according to data compiled by Bloomberg.

The two-part offering included $5 billion of three-year, 3.125% notes that were priced to yield 178 basis points more than comparable U.S. Treasuries, Bloomberg data showed. It also issued $1 billion of two-year, floating-rate notes that yield 50 basis points more than the three-month London interbank offered rate, Bloomberg said. The government-backed debt is to be rated Aaa by Moody's Investors Service and AAA by Standard & Poor's.

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