JPMorgan Issues Perpetual Bond with 6.1% Interest Rate

JPMorgan Chase & Co. issued a corporate bond called JPM6383839 with a 6.1% perpetual interest rate, also known as PERP. This type of bond has no maturity date and pays out interest indefinitely.

The bond was underwritten by several banks, including J.P. Morgan Securities LLC, Academy Securities, Inc., and BMO Capital Markets Corp. among others. These banks agreed to commit a total amount of $255 million in this bond issuance.

JPMorgan Chase & Co. currently has a rating of 670 from S&P Global Ratings for its long-term bonds, which is below the average rating of other corporate bonds in the market.