| Issuer / Guarantor | JP Morgan Chase Bank NA |
|---|---|
| Size | EUR 400mn |
| Type | Exchangeable into Sanofi |
| Leads | JP Morgan |
| Maturity | 12 Jan 2029 (3 years) |
| Coupon | Structured |
| Premium | 20% (20%) |
| Calls | None |
| Puts | t/o @ 100% |
| Div protection | Ratio adjustment (above or below threshold) |
| T/o protection | None |
| CoCo | None |
| Announced | 13 Jan 2026 |