JPMorgan to price contingent income callable notes linked to S&P 500

By Tali Rackner

Norfolk, Va., Jan. 8 – JPMorgan Chase & Co. plans to price contingent income callable securities due Feb. 3, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of at least 7% if the index closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that quarter. The exact contingent coupon rate will be set at pricing.

The notes are callable at par on any contingent payment date other than the first, second, third and final dates.

The payout at maturity will be par plus the final coupon unless the index finishes below its 60% downside threshold level, in which case investors will be fully exposed to the decline.

J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Wealth Management.

The notes are expected to price on Jan. 29.

The Cusip is 48128A533.

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