JP Morgan issues new €400m LVMH synthetic

By Aidan Gregory
11 Sep 2019

JP Morgan this week issued a €400m cash-settled exchangeable on LVMH, the French luxury goods conglomerate, in its latest synthetic outing, raising cheap funding while possibly hedging a derivatives transaction.

The US bank has previously issued similar synthetics linked to German engineering conglomerate Siemens and Swiss duty free retailer Dufry. Morgan Stanley and Deutsche Bank have also used the structure before in the past.

JP Morgan’s new three year zero coupon deal was launched on Wednesday morning, with a fixed ...

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