JP Morgan places $575m bond exchangeable into Alibaba stock

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By Aidan Gregory
09 Jan 2020

JP Morgan has issued a $575m synthetic bond exchangeable into the American depositary receipts of Alibaba, the Chinese e-commerce company.

According to terms seen by GlobalCapital, the three year bonds have a fixed offer price of 109.50, and will be redeemed at par. They also pay a coupon of 0.125% and have a fixed conversion premium of 20%. The yield to maturity of the bonds is roughly minus ...

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