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JPMorgan Issuing 30-Year Bonds

It will be the bank's first dollar-denominated benchmark offering with that maturity in nearly two years.

By Scott Harrison, Bloomberg | Updated on August 14, 2013

JPMorgan Chase & Co., the largest U.S. bank, is planning to issue $750 million of 30-year bonds, its first dollar-denominated benchmark offering of that maturity in 20 months.

The subordinated notes may yield 190 basis points more than similar-maturity Treasuries, according to a person with knowledge of the transaction. Proceeds from the securities, which may be rated A3 by Moody’s Investors Service, will be used for general corporate purposes, said the person, who asked not to be identified because terms aren’t set. Benchmark sales are typically at least $500 million.

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