Alerian MLP Index ETNs due January 28 2044 (AMJB) 424B Filings

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the lesser performance of the Nasdaq-100® Technology Sector IndexSM and the Russell 2000® Index, maturing on June 24, 2027. The notes pay a contingent interest rate of at least 9.75% per year (at least $8.125 per $1,000 monthly) only when, on a review date, the closing level of each index is at or above 75% of its initial value.

Starting with the sixth review date, the notes are automatically called if both indices are at or above their initial values, returning $1,000 per note plus that period’s contingent interest, with no further payments. If not called and, at maturity, each index is at or above 75% of its initial value, investors receive $1,000 plus the final contingent interest payment.

If, at maturity, either index is below 75% of its initial value, repayment is reduced one-for-one with the loss on the lesser-performing index, and investors can lose more than 25% and up to all of their principal. The preliminary estimated value is about $957.90 per $1,000 note and will not be less than $900. The notes are unsecured, not FDIC insured, and will not be listed on any exchange.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the lesser performance of the Russell 2000® Index and the S&P 500® Index, maturing on December 14, 2026. The notes can pay a quarterly Contingent Interest Payment of at least $27.125 per $1,000 (a rate of at least 10.85% per annum) for each Review Date when both indices close at or above 70% of their Initial Values.

The notes are automatically called, returning $1,000 plus the applicable interest, if on any non-final Review Date both indices are at or above their Initial Values. If the notes are not called and either index ever closes below 70% of its Initial Value during the Monitoring Period and finishes below its Initial Value at maturity, principal is reduced 1% for each 1% decline in the lesser performing index, with the potential for a total loss of principal.

The minimum denomination is $1,000. A preliminary estimated value example is $984.60 per $1,000, and the final estimated value on the pricing date will not be less than $900.00 per $1,000, reflecting selling commissions, hedging costs and issuer funding assumptions.

JPMorgan Chase Financial Company LLC is offering $205,000 of uncapped accelerated barrier notes linked to the least performing of the Dow Jones Industrial Average®, the Nasdaq-100 Index® and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes provide 1.435 times any positive performance of the weakest index at maturity, but pay no interest or dividends. If any index finishes below 70% of its initial level, investors lose 1% of principal for each 1% decline in the least performing index, up to a total loss.

The price to the public is $1,000 per note, including $43.50 in selling commissions, while the issuer’s estimated value is $943.50, reflecting embedded costs and hedging. The notes are unsecured, not insured by the FDIC, will not be listed on an exchange and expose holders to JPMorgan Financial’s and JPMorgan Chase & Co.’s credit risk.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the Class A common stock of Meta Platforms, Inc. The total offering is $3,633,000 in $1,000 denominations.

The notes can pay contingent interest of $38.30 per $1,000 on each of four scheduled 2026 review dates if Meta’s share price is at least 80% of the initial stock price of $647.95, an interest barrier and trigger level of $518.36. The notes are automatically called, returning principal plus the applicable interest, if Meta’s share price on a non-final review date is at or above the initial price.

If the notes are not called and Meta’s final stock price is below the trigger level, investors lose 1.25% of principal for every 1% decline beyond 20%, potentially losing most or all principal at maturity. The estimated value of the notes is $985.60 per $1,000, and they carry the unsecured credit risk of both the issuer and guarantor.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering step-up auto callable notes linked to the S&P® Global 100 PR 5% Daily Risk Control 0.5% Deduction Index (USD) ER, maturing on December 22, 2028.

The notes may be automatically called as early as December 23, 2026 if the Index closes at or above preset call levels, paying back the $1,000 principal plus a call premium of at least 7.75% on the first review date or at least 15.50% on the second. If never called and held to maturity, investors receive full principal plus an additional amount equal to the Index return times a 100% participation rate, with no downside exposure to Index losses.

The notes pay no interest, offer no dividends from Index constituents, and are subject to the credit risk of both issuers. The estimated value is about $958.80 per $1,000 note on the trade date and will not be less than $900.00, and secondary market prices and liquidity may be limited.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable accelerated barrier notes linked to the iShares Bitcoin Trust ETF. The notes can be automatically called on December 28, 2026 if the ETF’s price is at or above the call value, paying back principal plus a call premium of at least $285 per $1,000 note. If not called and the ETF rises by maturity in December 2028, investors receive 1.5 times the ETF’s percentage gain. If the ETF finishes at or above a 70% barrier but below the initial level, principal is returned at par. If the final value is below the barrier, repayment is reduced one-for-one with the ETF loss and investors can lose all principal. The notes pay no interest, are unsecured, have limited liquidity, and embed significant risks tied to bitcoin’s high volatility and the issuers’ credit.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Capped Buffered Return Enhanced Notes linked to the iShares Bitcoin Trust ETF (IBIT) maturing on December 21, 2028. The notes provide 1.50x leveraged upside to any increase in the ETF, but gains are capped at a maximum return of at least 115.00%, corresponding to a maximum payment of at least $2,150 per $1,000 note.

On the downside, investors are protected only by a 15.00% buffer; if the ETF falls more than 15.00%, principal is reduced 1% for each additional 1% decline, up to a maximum loss of 85.00%, leaving as little as $150 per $1,000 at maturity. The notes pay no interest, are unsecured, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

The preliminary estimated value is approximately $928.30 per $1,000 note and will not be less than $900. The product concentrates risk in bitcoin via the ETF, which has limited trading history and is exposed to high volatility, regulatory uncertainty, custody risks, and potential divergence between ETF market price and the value of its bitcoin holdings.

JPMorgan Chase Financial Company LLC is offering auto-callable structured notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are designed to pay a premium and return of principal if, on specified Review Dates starting on December 23, 2026, the Index is at or above its Initial Value, triggering automatic call.

The Call Premium Amount per $1,000 note is at least 27.75% on the first Review Date, rising in steps to at least 138.75% on the final Review Date. If the notes are not called and the Final Value is at or above a 50% Barrier Amount, investors receive only their principal at maturity on December 24, 2030; if below the barrier, repayment is $1,000 plus $1,000 × Index Return, so losses can exceed 50% and reach total loss.

The Index embeds a 6.0% per annum daily deduction and a daily notional financing cost on the QQQ Fund exposure, which drags performance and can cause the Index to lag similar strategies without such charges. If priced on the reference date, the estimated value would be about $928 per $1,000 note and will not be less than $900 at pricing, reflecting selling costs and hedging economics. The notes pay no interest or dividends and are unsecured obligations subject to the credit risk of both the issuer and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is offering unsecured "Review Notes" linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes can be automatically called as early as December 23, 2026 if the Index is at or above a preset Call Value, paying a fixed premium instead of tracking further upside.

The structure features minimum Call Premium Amounts of $295, $590 and $885 per $1,000 note on the first, second and final review dates. If the notes are never called, principal is protected at maturity only if the Index stays at or above 60% of its initial level; below that barrier, losses match the Index decline and can reach 100% of principal. The Index itself applies a 6.0% per annum daily deduction and uses up to 500% leveraged exposure to E-mini S&P 500 futures, which can magnify volatility and drag on returns. The preliminary estimated value is about $938.40 per $1,000 note and will not be less than $900.00 when finalized.

JPMorgan Chase Financial Company LLC is offering Uncapped Accelerated Barrier Notes linked to the S&P 500® Futures Excess Return Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes aim to pay at maturity at least 1.87 times any positive index return, with no cap, based on the index level on the observation date in December 2030.

If the index finishes at or above 70% of its initial level, investors receive at least their $1,000 principal per note; below that barrier, principal is reduced one-for-one with the index decline and can be lost entirely. The notes pay no interest, are unsecured obligations subject to issuer and guarantor credit risk, and will not be listed on an exchange. The indicative estimated value is about $958.20 per $1,000 note and will not be less than $900.00 at pricing, reflecting structuring, selling and hedging costs embedded in the original issue price.

JPMorgan Chase Financial Company LLC is offering unsecured, auto-callable review notes linked to the MerQube US Tech+ Vol Advantage Index, maturing on December 24, 2030 and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called as early as December 24, 2026 if the Index closes at or above the Call Value on a Review Date, paying back principal plus a fixed Call Premium Amount.

Investors forgo interest and dividends and accept up to a 70% loss of principal at maturity if the Index falls more than the 30% buffer. The Index uses leveraged, volatility-targeted exposure to the Invesco QQQ Trust, less a 6.0% per annum daily deduction and a notional financing cost, which creates a persistent drag versus an equivalent index without these charges. If priced today, the estimated value would be about $944.10 per $1,000 note and will not be less than $900.00 per $1,000 at pricing, and any payments remain subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is offering unsecured “Review Notes” linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes can be automatically called on scheduled Review Dates starting on December 23, 2026 if the Index is at or above the Call Value, paying fixed Call Premium Amounts from $277.50 to $1,387.50 per $1,000 depending on when they are called.

If the notes are not called, principal is protected only if the Final Index Value stays at or above a 50% Barrier Amount. Below the barrier, investors lose 1% of principal for each 1% Index decline, up to a total loss. The Index uses leveraged exposure (up to 500%) to E-mini S&P 500 futures, targets 35% implied volatility, and applies a 6.0% per annum daily deduction that drags returns. If priced today, the estimated value would be about $928 per $1,000, and will not be less than $900 at pricing.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Gold Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a 2030 maturity and $1,000 minimum denomination.

Investors may receive a contingent interest payment of at least 11.00% per annum, paid quarterly at a rate of at least 2.75%, for each review date on which the index closes at or above 60% of its initial value. The notes are automatically called, with return of principal plus the applicable interest, if on any non‑first, non‑final review date the index closes at or above its initial value; the earliest potential call date is June 18, 2026.

If the notes are not called and the final index level is below the 60% trigger, repayment of principal is reduced one‑for‑one with the index loss, and investors can lose more than 40% or all of their principal. The index includes a 6.0% per annum daily deduction, which drags performance. The notes are unsecured, not bank deposits and not FDIC insured. The estimated value would be about $900.80 per $1,000 note if priced on the reference date and will not be less than $900.00 per $1,000 at pricing.

JPMorgan Chase Financial Company LLC is offering unsecured, auto-callable Review Notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are designed to return principal early at a premium if, on any Review Date starting on December 23, 2026, the Index closes at or above the Call Value.

The payoff is capped at fixed Call Premium Amounts, illustrated as minimums of $295, $590 and $885 per $1,000 note on the first, second and final Review Dates. If the notes are not called and the Final Value is at or above a 60% Barrier Amount, investors receive only their principal; if it is below the barrier, losses match the Index decline and can reach 100% of principal.

The Index provides leveraged, rules-based exposure to the Invesco QQQ Trust via a volatility-target strategy, but its performance is reduced by a 6.0% per annum daily deduction and a notional financing cost, which materially drags returns. The notes pay no interest or dividends, are not FDIC insured, and any payment is subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. A current illustration places the estimated value at about $938.40 per $1,000 note and not less than $900.00 at pricing.

JPMorgan Chase Financial Company LLC plans to issue structured “Review Notes” due December 23, 2030, linked to the MerQube US Tech+ Vol Advantage Index and fully guaranteed by JPMorgan Chase & Co. The notes can be automatically called on scheduled review dates starting December 22, 2026 if the Index is at or above a set Call Value, paying back principal plus a fixed Call Premium instead of continuing to maturity.

The preliminary terms illustrate minimum Call Premiums from $162.50 to $812.50 per $1,000 depending on when an automatic call occurs, but investors forgo coupons and dividends and only benefit up to these fixed premiums, regardless of how strongly the Index rises. If the notes are not called and the Index falls more than the 30% downside buffer, holders lose 1% of principal for each additional 1% decline, up to a 70% loss of principal at maturity.

The underlying Index is a leveraged, volatility-targeting strategy on the Invesco QQQ Trust with up to 500% exposure, reduced daily by a 6.0% per annum deduction plus a notional financing cost tied to SOFR, which drags on performance. The notes are unsecured obligations of JPMorgan Financial, subject to the credit risk of both the issuer and JPMorgan Chase & Co., have an estimated value of about $912.70 per $1,000 (not less than $900), are expected to trade over the counter, and may be illiquid.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, maturing in December 2030. The notes pay a Contingent Interest Payment on each Review Date only if the Index closes at or above 65% of its Initial Value; missed coupons can be paid later if the barrier is subsequently met.

The notes may be automatically called as early as December 3, 2026 if the Index is at or above its Initial Value on specified Review Dates, in which case investors receive principal plus the applicable coupon and no further payments. Principal is protected only down to an 80% Buffer Threshold; if the Final Value falls more than 20% below the Initial Value, holders lose 1% of principal for each additional 1% decline, up to an 80% loss. The underlying Index employs leverage up to 500%, a 6.0% per annum daily deduction and a notional financing cost, which create a persistent drag on index performance. The preliminary estimated value is about $948.30 per $1,000 note and will not be less than $900 when finalized.

JPMorgan Chase Financial Company LLC is offering capped dual directional buffered equity notes linked to the Russell 2000 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are unsecured, unsubordinated obligations with a scheduled maturity on December 29, 2027.

The structure provides unleveraged upside if the index rises, with a Maximum Upside Return of at least 19.05%, and a positive return equal to the index’s absolute loss if the index falls by up to the 20.00% buffer. If the index declines by more than 20%, investors lose 1% of principal for each additional 1% drop, for a potential loss of up to 80.00% of principal.

The notes do not pay interest or dividends and will not be listed on an exchange, so liquidity depends on dealer bids. An indicative estimated value is $987.20 per $1,000 note, and the final estimated value will be at least $950.00, reflecting selling commissions, hedging costs and issuer funding assumptions. Payments depend on the credit of both JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the least performing of AMD, Coinbase Global Class A and Oracle common stock, maturing on December 9, 2032. The notes aim to pay a contingent interest rate of at least 7.00% per annum, or at least $5.8333 per $1,000 monthly, but only if on each Interest Review Date all three stocks close at or above 75% of their Initial Value. Missed interest can be paid later if the barrier is met, but investors may receive no interest over the life of the notes.

The notes are automatically called on designated quarterly Autocall Review Dates if each stock is at or above its Initial Value, returning $1,000 plus current and unpaid contingent interest. If never called, investors receive $1,000 per note at maturity plus any contingent interest then due, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The preliminary estimated value is about $941.30 per $1,000, and will not be less than $900. The notes are unsecured, unlisted, may have limited liquidity, and are expected to be treated as contingent payment debt instruments for U.S. federal tax purposes.

JPMorgan Chase Financial Company LLC is offering unsecured, callable structured notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing on December 23, 2030 and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes can be automatically called as early as December 22, 2026 if the Index is at or above a preset call level, paying back principal plus a fixed call premium. Illustrative minimum Call Premium Amounts range from $240 on the first review date up to $1,200 on the final review date per $1,000 note.

If the notes are not called, principal repayment at maturity depends on the Index staying above a barrier level; if the Index finishes below that barrier, losses mirror the Index decline and investors can lose all principal. The Index uses leveraged exposure (up to 500%) to E-mini S&P 500 futures and is reduced by a 6.0% per annum daily deduction, which drags performance. The estimated value is about $901.10 per $1,000 note and will not be less than $900. The notes pay no interest, offer no dividends, are not FDIC insured and carry the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is offering auto callable accelerated barrier notes linked to the iShares Bitcoin Trust ETF. Each note has a $1,000 denomination and can be automatically called on December 21, 2026 if the ETF’s closing price is at or above the Call Value, which is set at 100% of the Initial Value. If called, investors receive $1,000 plus a Call Premium Amount of at least $232.50 per $1,000, ending the investment early.

If the notes are not called and the ETF finishes above the Initial Value on the December 18, 2028 Observation Date, investors receive $1,000 plus 1.50 times the ETF’s positive return. If the final price is between the Initial Value and the 70% Barrier Amount, principal is returned. If the final price falls below the Barrier Amount, repayment is reduced one-for-one with the ETF’s loss and investors can lose most or all of their principal.

The notes pay no interest, are unsecured obligations of JPMorgan Chase Financial guaranteed by JPMorgan Chase & Co., and expose investors to both bitcoin-related volatility and the issuers’ credit risk. The current estimated value is about $928.20 per $1,000 note and will not be less than $900 when terms are finalized.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Uncapped Accelerated Barrier Notes linked to the Bloomberg Commodity IndexSM, maturing on December 24, 2030. These structured notes provide at least 1.85x the Index’s positive return at maturity, with no explicit cap on upside.

If the final Index level is at or above 70% of the initial value, investors receive at least their full $1,000 principal per note; if it is below that barrier, repayment is reduced one-for-one with the Index loss and can fall to $0. The notes pay no interest, are unsecured obligations of JPMorgan Financial, and all payments are subject to the credit risk of both the issuer and the guarantor. The preliminary estimated value is indicated at about $961.70 per $1,000 note, and will not be less than $900.00 when finalized.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering callable contingent interest notes linked separately to the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index, maturing in November 2027. The notes pay a monthly contingent coupon of at least 6.40% per annum equivalent if, on a review date, each index closes at or above 55% of its initial level; otherwise no interest is paid for that period.

The issuer can redeem the notes early on specified interest payment dates, returning principal plus any due contingent interest, which would stop future payments. At maturity, if any index finishes below its 55% trigger level, investors lose 1% of principal for each 1% decline in the least performing index and could lose their entire investment. The notes are unsecured obligations, will not be listed, have limited liquidity, and their estimated value at pricing is expected to be below the $1,000 issue price due to selling costs and hedging-related factors.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Uncapped Digital Barrier Notes linked to the worst performer of the Dow Jones Industrial Average, Nasdaq‑100 Index and Russell 2000 Index, maturing on December 12, 2030. The notes give investors uncapped, unleveraged upside to the least performing index at maturity, with a contingent minimum digital return of at least 60.00% if all three indices finish at or above their initial levels.

If any index finishes below its initial level but each remains at or above 70.00% of its initial level (the barrier), investors receive only their principal back. If any index closes below the 70.00% barrier, repayment is reduced one‑for‑one with the decline of the least performing index, and investors can lose some or all of their principal.

The notes pay no interest, do not provide dividends on underlying stocks, and will not be listed on an exchange. They are unsecured, unsubordinated obligations subject to the credit risk of both the issuer and guarantor. For illustration, the issuer cites an estimated value of about $950 per $1,000 note, with a minimum estimated value of $930, reflecting embedded fees, hedging costs and dealer compensation.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Capped Dual Directional Buffered Equity Notes linked to the Nasdaq-100 Index®, maturing on June 9, 2027. The notes provide unleveraged exposure to index gains up to a Maximum Upside Return of at least 17.45%, and positive returns on index declines of up to a 15.00% buffer, giving up to $1,150 per $1,000 note if the index falls by 15% or less.

If the index drops more than 15%, investors lose 1% of principal for each additional 1% decline, for a potential loss of up to 85.00% of principal at maturity. The notes pay no interest, do not provide dividends from index constituents, and are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The preliminary estimated value is about $989.50 per $1,000 note and will not be less than $950.00 when finalized.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Digital Barrier Notes linked to the lesser performance of the Russell 2000 Index and the S&P 500 Index, maturing on January 15, 2027. The notes target a fixed return of at least 9.00% at maturity if, on the January 12, 2027 observation date, the final level of each index is at least 70% of its initial level. If either index finishes below this 70% barrier, repayment is reduced one-for-one with the decline of the worse-performing index, so investors can lose more than 30% and up to all of their principal.

The notes are unsecured, unsubordinated obligations of the finance subsidiary, with payments subject to the credit risk of both the issuer and JPMorgan Chase & Co. They pay no periodic interest, provide no dividend exposure, will not be listed on an exchange, and may trade at prices below the $1,000 issue price. The preliminary estimated value is about $990.80 per $1,000 note and will not be less than $960.00 at pricing, reflecting structuring and hedging costs. The tax treatment is uncertain and may differ from the issuer’s intended “open transaction” treatment.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked individually to the Nasdaq-100 Index, the Russell 2000 Index and the Utilities Select Sector SPDR Fund, maturing on December 14, 2028.

The notes can pay a monthly contingent coupon of at least 10.10% per annum (about 0.84167% per month) for each review date when every underlying closes at or above 70% of its initial value. Starting with the June 10, 2026 review, the notes are automatically called if each underlying is at or above its initial value, returning $1,000 per note plus that period’s coupon, with no further payments.

If the notes are not called and any underlying finishes below 65% of its initial value at final maturity, repayment of principal is reduced one-for-one with the decline in the worst performer, and investors can lose more than 35% and up to all of their principal. The minimum denomination is $1,000, selling commissions are capped at $7 per $1,000, and the estimated value is about $970.60 per $1,000 note, not less than $900.

JPMorgan Chase & Co. is offering unsecured senior callable fixed rate notes due December 17, 2029. The notes pay interest at a fixed rate of 4.15% per year, calculated on a 30/360 basis and paid in arrears each year on December 17, beginning in 2026 and ending at maturity, if the notes have not been called.

Starting on December 17, 2027, and then on March 17, June 17, September 17 and December 17 through September 17, 2029, JPMorgan may redeem all (but not part) of the notes on any redemption date at par plus accrued and unpaid interest. At maturity, if the notes remain outstanding, investors receive their principal back plus any accrued interest.

The notes are not bank deposits, are not insured by the FDIC, and rank as unsecured obligations of JPMorgan Chase & Co. In a bankruptcy or resolution scenario, losses would be borne first by equity holders and then by unsecured creditors, including holders of these notes, who are structurally junior to creditors of JPMorgan’s subsidiaries.

JPMorgan Chase & Co. is offering callable step-up fixed rate notes due December 12, 2035. The notes pay annual interest in arrears on December 12 of each year, starting December 12, 2026. The interest rate is 4.50% per annum from December 12, 2025 to December 12, 2029, 5.00% per annum from December 12, 2029 to December 12, 2032, and 6.00% per annum from December 12, 2032 to December 12, 2035, calculated on a 30/360 day-count basis.

JPMorgan may redeem the notes at par plus accrued interest on June 12 and December 12 of each year from December 12, 2027 through June 12, 2035, which could limit investors’ ability to benefit from higher future market rates. At maturity, if not called earlier, holders receive the principal plus accrued interest. The notes are unsecured obligations of JPMorgan Chase & Co., rank behind creditors of its subsidiaries in a resolution scenario, are not bank deposits and are not FDIC insured.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering 5-year, non-call 1-year auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, which references the Invesco QQQ Trust with dynamic leverage and a 6.0% per annum daily fee and notional financing cost.

The notes have a minimum denomination of $1,000 and offer a contingent interest rate of at least 11.00% per annum, paid monthly if the index stays at or above 70% of its initial level on a review date. The notes can be automatically called after the first year if the index closes at or above its initial level, paying back principal plus the applicable interest.

If not called, repayment at maturity depends on index performance: full principal plus the final interest payment is returned if the final index level is at or above the 70% buffer threshold, but investors lose some or most of their principal if the final level falls below that threshold. The estimated value will be at least $900 per $1,000 note, and all payments depend on the credit of the JPMorgan entities.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering structured notes that track the lesser performer of the Dow Jones Industrial Average and the S&P 500 Index, maturing in December 2027. The notes provide 1.25 times any positive return of the weaker index, capped at a Maximum Upside Return of at least 18.50%, and can also deliver a positive return if that index falls by up to the 20.00% buffer.

If either index declines by more than 20.00%, investors lose 1% of principal for each additional 1% decline, for a maximum loss of 80.00% of principal. The notes pay no interest or dividends, are unsecured and unsubordinated, are not listed on an exchange, and their value and repayment depend on the credit of JPMorgan Financial and JPMorgan Chase & Co. The preliminary estimated value is about $982.60 per $1,000 note, and the final estimated value will not be less than $900.00.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering callable contingent interest notes linked separately to the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index, maturing on November 24, 2027. Investors may receive monthly contingent interest at an annual rate between 10.25% and 12.25% if, on each review date, the closing level of every index is at least 70% of its initial value.

The issuer can redeem the notes early on specified interest payment dates, starting March 24, 2026, paying principal plus any due contingent interest. If held to maturity and each index finishes at or above its 70% trigger value, investors receive principal plus the final contingent interest payment; otherwise, repayment is reduced one-for-one with the decline of the worst-performing index, and the entire principal can be lost. The notes are unsecured obligations with an estimated value of about $967.60 per $1,000, not less than $900.00 at pricing, and do not pay dividends from the underlying indices.

JPMorgan Chase Financial Company LLC is offering unsecured, callable contingent interest notes linked individually to the Nasdaq-100® Technology Sector IndexSM, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes run to November 23, 2027 and pay a Contingent Interest Payment on each Review Date only if the closing level of every index is at or above 70% of its Initial Value, the Interest Barrier. The Contingent Interest Rate will be set between 8.50% and 10.50% per year on a monthly basis. The notes can be redeemed early at the issuer’s option on specified Interest Payment Dates starting March 23, 2026, which would stop further interest payments.

If the notes are not called and the Final Value of the Least Performing Index is below its Trigger Value (70% of its Initial Value), principal is reduced 1% for each 1% decline and can be fully lost. The notes do not pay fixed interest or dividends and do not participate in index gains. They are not listed, may have limited liquidity and secondary prices are expected to be below the $1,000 issue price. If priced today, the estimated value would be about $953.30 per $1,000 note and will not be less than $900.00 at pricing.

JPMorgan Chase Financial Company LLC plans to issue auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are scheduled to settle on or about December 23, 2025 and mature on December 23, 2030, in $1,000 minimum denominations.

The notes pay a contingent interest rate of at least 7.75% per annum, credited monthly, but only when the index closes at or above 80% of its initial level on a review date. Missed coupons can be paid later if the barrier is met, but investors may receive no interest for the entire term. The notes are automatically called, with principal plus due coupons, if on certain review dates the index is at or above its initial level; the earliest potential call date is December 18, 2026.

At maturity, if not called and the index is at or above 70% of its initial level, investors receive full principal back plus any due contingent interest. Below that 70% buffer threshold, principal is reduced 1-for-1 with index losses beyond the 30% buffer, up to a 70% loss. The underlying index is subject to a 6.0% per annum daily deduction and a notional financing cost, uses leverage up to 500%, and may lag a comparable undeducted index. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated value is indicated at about $913.30 per $1,000 note, and will not be less than $900.00 per $1,000 at pricing.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Uncapped Accelerated Barrier Notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500 indices, maturing in December 2030. The notes provide at least 1.63x participation in any positive performance of the weakest index at maturity, with no cap on upside.

If any index finishes below 70% of its initial level, investors lose 1% of principal for each 1% decline of the least performing index and could lose their entire investment. The notes pay no interest, provide no dividends, are unsecured obligations and carry the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. If priced on the date shown, the estimated value would be about $954.10 per $1,000 note and will not be less than $900.00 when finalized.

JPMorgan Chase Financial Company LLC is offering capped dual directional buffered equity notes linked to the lesser performer of the Nasdaq-100 Index® and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes provide unleveraged exposure to index moves over the term to June 23, 2028.

At maturity, investors receive upside if the lesser-performing index gains, capped at a Maximum Upside Return of at least 30.50%, and can also gain from index declines of up to a 15.00% drop via a dual-direction feature. If the lesser-performing index falls by more than 15.00%, principal is reduced 1% for each additional 1% decline, up to a loss of 85.00% of principal.

The notes do not pay interest or dividends and are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The preliminary estimated value, if priced on the reference date, would be about $960.30 per $1,000 note and will not be less than $900.00 per $1,000 note, reflecting embedded selling, structuring and hedging costs and the issuer’s internal funding rate.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Uncapped Accelerated Barrier Notes linked to the worst performer of the Nasdaq-100, Russell 2000 and S&P 500 indices, maturing on December 22, 2028.

The notes provide at least 1.61x any positive return of the least performing index if all three finish above their initial levels. If any index finishes at or below its initial level but all stay at or above 70% of initial value, investors receive only their principal back. If any index closes below 70% of its initial level, repayment is reduced one-for-one with the decline in the worst index, so investors can lose more than 30% and up to all of their principal.

The notes pay no interest, provide no dividends, are unsecured and unsubordinated obligations of JPMorgan Chase Financial and are subject to the credit risk of both the issuer and guarantor. They will not be listed on an exchange, and secondary market prices and the issuer’s estimated value (illustrated at about $967 per $1,000 face amount, and not less than $900) are expected to be below the original issue price.

JPMorgan Chase Financial Company LLC is offering Uncapped Accelerated Barrier Notes linked to the lesser performing of the Russell 2000 Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes target an uncapped payoff of at least 1.455 times any positive return of the weaker index at maturity. If both indices finish at or above 70% of their initial levels, investors receive at least their $1,000 principal per note; gains, if any, are based on the lesser performing index.

If either index finishes below the 70% barrier, principal is reduced 1% for each 1% decline of the lesser index, and investors can lose up to their entire investment. The notes pay no interest, provide no dividends, are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and are not bank deposits or FDIC insured. An indicative estimated value is about $968.80 per $1,000 note, and will not be less than $900.00 per $1,000 at pricing, reflecting selling commissions, hedging costs and issuer funding assumptions.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Payment for each Review Date only if every index closes at or above 70% of its Initial Value, and may be automatically called starting June 22, 2026 if each index is at or above its Initial Value.

The illustrative Contingent Interest Rate is 8.75% per annum (0.72917% per month), with the actual rate to be set between 8.75% and 10.75% per annum. Principal is at risk: if the notes are not called and the Final Value of the Least Performing Index is below its Trigger Value (70% of Initial Value), investors lose 1% of principal for each 1% decline, potentially up to a total loss. The estimated value would be about $964 per $1,000 note if priced today and will not be less than $900, reflecting embedded selling, structuring and hedging costs.

JPMorgan Chase Financial Company LLC is offering capped buffered return enhanced notes linked to the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes target 2.00x any positive Index return, subject to a maximum return between 10.00% and 14.00%, and provide a 10.00% downside buffer.

If the Index is flat or down by up to 10.00% at maturity, investors receive their $1,000 principal back per note. Losses begin if the Index falls more than 10.00%, with investors losing 1% of principal for each additional 1% Index decline, up to a maximum 90.00% loss.

The notes pay no interest, do not pass through S&P 500 dividends, and are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The preliminary estimated value is about $973.30 per $1,000 note and will not be less than $900.00 per $1,000 at pricing. The notes are expected to price around December 19, 2025 and mature on March 24, 2027.

JPMorgan Chase Financial Company LLC is offering Uncapped Accelerated Barrier Notes linked to the least performing of the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes target at least 2x any positive performance of the worst-performing index at maturity, with no upside cap.

The notes have a barrier set at 80% of the initial level for each index. If every index finishes at or above its barrier, investors receive at least their full principal; if any index closes below its barrier, repayment is reduced one-for-one with the decline of the least performing index and investors can lose all principal. The notes pay no interest or dividends, are unsecured obligations subject to JPMorgan credit risk, will not be listed on an exchange and may have limited liquidity. The preliminary estimated value is about $986.80 per $1,000 note, reflecting embedded fees, hedging costs and dealer compensation.

JPMorgan Chase Financial Company LLC is offering callable contingent interest notes linked to the least performing of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price on or about December 1, 2025 and mature on December 6, 2028, with minimum denominations of $1,000.

The notes may pay a monthly contingent interest at a rate expected to be at least 8.00% per annum, but only for Review Dates when each index closes at or above 75.00% of its Initial Value. Principal is at risk: if at maturity the least performing index closes below 65.00% of its Initial Value, repayment will be reduced 1% for each 1% decline, potentially resulting in a total loss. The issuer estimates the current value at approximately $948.80 per $1,000 note, and states it will not be less than $900.00 when finalized, reflecting embedded fees and hedging costs.

The notes can be called early at the issuer’s option on specified interest payment dates starting June 4, 2026, which would stop further interest. They are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., will not be listed on an exchange, and may have limited or no secondary liquidity.

JPMorgan Chase Financial Company LLC is offering unsecured Callable Contingent Interest Notes linked to the least performing of the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes run to November 5, 2027 and can be called early, in whole, on specified interest payment dates starting March 5, 2026.

Investors may receive a Contingent Interest Payment on each review date only if the closing level of each index is at least 70% of its Initial Value. The illustrative Contingent Interest Rate is 9.25% per annum, paid monthly at 0.77083%, and the rate will be at least 9.25% per annum when set. If the notes are not redeemed early and the final level of the least performing index is below its trigger value (70% of its Initial Value), principal is reduced 1% for every 1% decline and up to all principal can be lost.

The price to the public is $1,000 per note in minimum denominations of $1,000. If priced on the indicated date, the estimated value would be about $966.70 per $1,000, and at pricing it will not be less than $900.00, reflecting selling commissions, hedging costs and issuer funding assumptions. The notes are not bank deposits, are not FDIC insured, may be illiquid, and expose investors to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, due December 17, 2030.

Each note has a $1,000 denomination. If on a Review Date the Index closes at or above 57.00% of the Initial Value (the Interest Barrier), investors receive a Contingent Interest Payment for that month plus any previously unpaid interest. The notes may be automatically called starting on December 14, 2026 if the Index is at or above its Initial Value on an eligible Review Date.

If the notes are not called and the Final Value is below the 85.00% Buffer Threshold, principal is reduced 1% for each 1% decline beyond the 15.00% buffer, for a possible loss of up to 85.00% of principal. If priced today, the estimated value would be about $914.10 per $1,000 note and will not be less than $900.00 per $1,000 at pricing. The Index embeds a 6.0% per annum daily deduction and a notional financing cost, which drag on performance, and all payments are subject to the unsecured credit risk of JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the Energy Select Sector SPDR Fund, the Russell 2000 Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a monthly Contingent Interest Payment only if, on a Review Date, the closing value of each underlying is at or above 70% of its Initial Value. The hypothetical Contingent Interest Rate is 12.65% per annum (1.05417% per month), with the actual rate to be at least this level.

The notes can be automatically called as early as March 2, 2026 if each underlying is at or above its Initial Value, in which case investors receive principal plus the applicable contingent interest and no further payments. If the notes are not called and the least performing underlying finishes below its Trigger Value of 70% at maturity, repayment of principal is reduced one-for-one with the loss in that underlying, and investors can lose most or all of their investment.

The minimum denomination is $1,000. If priced on the date shown, the estimated value would be about $982.50 per $1,000 note and will not be less than $900.00 at pricing, reflecting embedded selling, structuring and hedging costs. The notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., will not be listed on any exchange and may have limited or no liquidity. U.S. and non-U.S. tax treatment of contingent interest is complex, and non-U.S. holders may face 30% withholding absent treaty relief.

JPMorgan Chase Financial Company LLC is offering auto callable accelerated barrier notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500 indices, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes can be called early starting in December 2026 if each index is at or above its Call Value, paying back principal plus a fixed Call Premium Amount (at least $170 on the first Review Date and $340 on the second per $1,000). If not called and each index finishes above its initial level at maturity, investors receive 2.00 times the gain of the worst index; if any index ends below 70% of its initial level, principal loss is 1% for each 1% decline of the least performing index, up to total loss. The notes pay no interest, provide no dividends, are unsecured, may be illiquid, and have an estimated value below the $1,000 price.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering 5-year auto callable contingent interest notes linked to the MerQube US Small-Cap Vol Advantage Index. The index dynamically allocates between 0% and 500% exposure to E-Mini Russell 2000 futures and embeds a 6.0% per annum daily fee.

The notes have a minimum $1,000 denomination and quarterly review dates. Investors may receive a contingent interest rate of at least 11.00% per year, paid at least 2.75% per quarter, but only when the index level on a review date is at or above a 60.00% interest barrier. If, on a non-initial and non-final review date, the index is at or above its initial level, the notes are automatically called and pay back principal plus that period’s interest.

At maturity, if the notes have not been called and the final index level is at or above 60.00% of the initial value, investors receive principal plus the final contingent interest. If it is below 60.00%, repayment is reduced one-for-one with the index decline, and investors can lose more than 40% and up to all of their principal. Any payment is subject to the credit risk of both issuing and guaranteeing JPMorgan entities.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering $1,000 minimum denomination 5-year auto-callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index (ticker: MQUSTVA). The index reflects a 6.0% per annum daily deduction and the QQQ Fund exposure is reduced by a daily notional financing cost.

The notes pay a contingent interest rate of at least 10.50% per annum, or at least 2.625% per quarter, but only if on a quarterly Review Date the index is at or above the Interest Barrier, set at 50.00% of the Initial Value. If on certain Review Dates (excluding the first three and the final) the index is at or above the Initial Value, the notes are automatically called and repay $1,000 plus that quarter’s contingent interest, with no further payments.

If the notes are not called and the Final Value is at or above the 50.00% Trigger Value, investors receive $1,000 plus the final contingent interest. If the Final Value is below the Trigger Value, repayment is reduced by 1% for every 1% decline from the Initial Value, and investors can lose more than half, up to all, of their principal. The estimated value at pricing will not be less than $900 per $1,000 note, and all payments depend on the credit of JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering 5-year, auto-callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index (ticker: MQUSTVA). The notes have a pricing date of December 18, 2025, a final review date of December 18, 2030 and mature on December 23, 2030, with a minimum denomination of $1,000 per note.

The notes may pay a contingent interest rate of at least 11.00% per annum, or at least 2.75% per quarter, but only if on a quarterly review date the index level is at or above a barrier set at 60.00% of the initial value. If on any review date (other than the first and final) the index closes at or above its initial value, the notes are automatically called and investors receive $1,000 plus the applicable contingent interest, with no further payments.

If the notes are not called and the final index value is below the trigger (60% of the initial value), repayment of principal is reduced 1% for each 1% decline from the initial value, and investors can lose some or all of their principal. The underlying index is subject to a 6.0% per annum daily deduction and a separate daily financing cost on the QQQ-based underlying asset. The estimated value at issuance will not be less than $900 per $1,000 note, and all payments are subject to the credit risk of the issuer and guarantor.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the MerQube US Small-Cap Vol Advantage Index (MQUSSVA). The notes have a minimum denomination of $1,000, a pricing date on December 19, 2025, quarterly review dates, a final review date on December 19, 2030 and a maturity date on December 24, 2030.

The notes pay a contingent interest rate of at least 13.50% per annum, or at least 3.375% per quarter, but only if on a review date the index is at or above 60% of its initial value. The notes are auto callable on any non-initial, non-final review date if the index closes at or above its initial value, in which case investors receive principal plus the applicable interest and the notes terminate early.

If the notes are not called and the final index value is at or above the 60% trigger, investors receive principal plus the final contingent interest payment. If the final value is below the trigger, repayment is reduced on a 1-for-1 basis with the index decline, and investors can lose most or all of their principal. The index itself is highly engineered, uses futures on the Russell 2000, can employ leverage up to 500% and is subject to a 6.0% per annum daily deduction, adding to risk.