Press Release

J.P. Morgan First Capital (“JPMFC”) acted as the lead underwriter for the RMB 1.2 billion subordinate bond (2016 Tranche II) issued by First Capital Securities Co., Ltd.

J.P. Morgan First Capital (“JPMFC”) acted as the lead underwriter for the RMB 1.2 billion subordinate bond (2016 Tranche II) issued by First Capital Securities Co., Ltd. (“the Issuer”) and successfully completed the issuance on October 26, 2016.

With the successful experiences on First Capital Securities Co., Ltd.’s subordinate bond issuance (2016 Tranche I) and with strong supports from the Issuer and other intermediary agencies, the deal team helped the Issuer acquire unconditional approval from Shenzhen Stock Exchange within a short period of time. The professional execution and communication capability were highly acknowledged by the client.

Given the investor scope broader than that of last issuance of sub debt, the DCM team did an intense market sounding and launched the bond at a favorable time window. The deal was successfully priced at 3.64%, which is beyond the Issuer’s expectation. The team received high recognition from the Issuer for their smooth collaboration and effective execution.

The team highly appreciates all the supports for the deal, including those from the management and other colleagues of JPMFC.