JPMorgan Chase & Co. (NYSE:JPM) has successfully closed a public offering of $2.5 billion in aggregate principal amount of Fixed-to-Floating Rate Notes due in 2045, as announced today. The offering, which was registered under the Securities Act of 1933, aligns with the company's previous registration statement on Form S-3.
The offering of these notes, which are due in 2045, was made to support JPMorgan's financial structuring and for corporate purposes. The legal opinion regarding the legality of the notes has been provided by Simpson Thacher & Bartlett LLP and is included in the company's SEC filing as Exhibit 5.1.
In other recent news, Baird downgraded JPMorgan Chase stock from Neutral to Underperform, citing a poor risk/reward balance and limited potential for stock price growth. However, Piper Sandler confirmed its Overweight rating on JPMorgan shares, expressing confidence in the company's leadership and growth potential in the retail market and credit card sectors. Furthermore, CEO Jamie Dimon has reportedly been in secret communications with Donald Trump, providing counsel on the president-elect's policy agenda.
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