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JPM cashes in $400m from rare cash-settled Tencent EB
JP Morgan has bagged $400m from a rare cash-settled exchangeable bond, with Tencent Holdings as the reference stock, according to a source close to the deal.
The bank launched the three year bullet after Hong Kong markets closed on Thursday. The bond has no put or call options but is linked to the share price of Hong Kong-listed Tencent Holdings.
JPM took the chance to hedge some of its Tencent exposure after a correction ...Already a subscriber? Login
