JPMorgan Chase

The $39 billion 10-year note sale was awarded at 4.438%, compared with a yield of 4.458% in pre-auction trading at 1 p.m. New York time, the bidding deadline.

Slated to close on June 13, Regional Management Issuance will pay notes on the 15 of each month, beginning in July 2024. With a May 31, 2024 initial cut-off date, the transaction has a three-year revolving period ending May 31, 2027.

The chief executive officer of JPMorgan Chase & Co. told shareholders the timetable is "not five years anymore," in response to a question about how long he planned to remain CEO.

The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.

With a high proportion of fixed-rate, interest-only underlying loans, the notes have almost no amortization, and three CRE loans have standalone, investment-grade opinions.

First-quarter results at the companies were promising for other banks looking to reel in fees from capital markets activities as deposit costs put pressure on net interest income.

Four tranches of class A notes make up the capital structure, and they all benefit from 3.00% in total initial hard credit enhancement.

Barclays has long faced questions from investors about the viability of its Wall Street operations because the investment bank consumes more capital than other, higher-returning divisions across the firm.

Spreads are expected to come in at 120 basis points over the 3M, I-Curve on the A1A notes and then range from 185 bps—425 bps over the 3M, I-Curve on the class B through class D notes.

Banks have been boosting purchases of top-rated CLOs. Commercial bank holdings of mortgage bonds are also on the upswing, climbing 12 of the last 15 weeks.