NEW YORK, Feb 2, 2026, 11:22 EST — Regular session
- JPM shares climbed roughly 0.5% by late morning, riding the wave of gains across U.S. bank stocks.
- A filing revealed the bank is offloading $3 billion in fixed-to-floating subordinated notes maturing in 2037.
- Markets remain jittery as investors gear up for management comments at upcoming conferences this month.
Shares of JPMorgan Chase & Co edged higher by roughly 0.5%, reaching $307.44 in late-morning trading Monday. The stock closed Friday at $305.89. During the session, prices fluctuated between $301.66 and $307.53.
Investors remain focused on big banks’ funding costs and capital plans, even when earnings aren’t making headlines. While debt deals often go under the radar, their pricing and structure reveal what borrowers can secure—and what buyers are willing to accept.
This is crucial now as bank stocks track rate expectations and shifts in risk appetite. When markets turn volatile, funding windows can tighten quickly, impacting how companies secure financing.
A prospectus supplement filed with the U.S. Securities and Exchange Commission reveals the bank is issuing $3 billion in fixed-to-floating rate subordinated notes maturing in 2037. These notes offer a 5.193% coupon until Feb. 5, 2036, after which the rate resets to a floating rate based on Compounded SOFR plus 1.30%. Settlement is anticipated around Feb. 5. (SEC)
The filing indicated net proceeds of roughly $2.99 billion after underwriting discounts will go to JPMorgan Chase Holdings LLC for “general corporate purposes.” Subordinated debt sits below senior debt in bankruptcy priority, which usually means a higher coupon rate.
Bank stocks edged higher. The SPDR S&P Bank ETF rose roughly 1.6%, while Wells Fargo climbed around 1.6%. Bank of America added about 0.8%, and Citigroup increased close to 0.6%.
The broader market has been jittery following wild moves in precious metals, prompting traders to pull back from risk. “There’s a ripple effect in stocks,” noted Jim Baird of Plante Moran Financial Advisors. (Reuters)
Lenders are watching closely since shifts in rates and volatility can quickly alter views on credit risk, trading income, and the worth of their securities portfolios. This week’s calendar is heavy with central bank announcements and crucial economic figures that might reshape rate and growth forecasts. (Reuters)
According to the company calendar, Troy Rohrbaugh is set to speak at the UBS Financial Services Conference on Feb. 10. (JPMorgan Chase)
A “Company Update” is set for Feb. 23 in New York, featuring a firm overview and Q&A sessions with senior management. (JPMorgan Chase)
But risks remain. If loan growth falters or credit losses rise, a bigger interest bill could hurt. And shifts in rate expectations can slam bank valuations fast, even when the underlying fundamentals barely move.
Investors are zeroing in on the final pricing and settlement of the notes, expected around Feb. 5. After that, all eyes turn to management’s updates on strategy, costs, and credit during their appearances on Feb. 10 and Feb. 23.
