JPMorgan Said to Offer Asset-Backed Bonds Tied to LendingClub

JPMorgan Chase & Co. is marketing a package of bonds tied to unsecured consumer loans that were originated by LendingClub Corp., according to two people with knowledge of the matter.

The securities are backed by some of the $1 billion of loans that JPMorgan bought from Santander Consumer USA Holdings Inc. earlier this year, and are split into two offerings, said the people, asking not to be identified because the information is private.

JPMorgan spokeswoman Amanda Smith declined to comment.

Bond sales tied to personal loans made over the Internet have grown over the past two years. As much as $35 billion to $40 billion of securitizations tied to online consumer loans may be sold in 2016, according to Wilmington Trust, which acts as a trustee on many of the bonds.