Investors Buy Most Bank-Tied Notes Since June
Sales of structured notes betting that the largest U.S. banks will rise in value climbed to the highest since June, buoyed by the likelihood that an improving economy will lead to increased lending.
Issuers sold $88.6 million of U.S. notes tied to the country’s six biggest banks, including JPMorgan Chase & Co. and Bank of America Corp., in 12 offerings this month, according to data compiled by Bloomberg. All the securities pay a coupon and can lose value if the stocks plummet from their initial value.
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