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 Class B common stock of NIKE, Inc., maturing on December 1, 2027. The notes pay a quarterly Contingent Interest Payment of at least $38.75 per $1,000 (at least 15.50% per annum) only if, on a Review Date, NIKE’s share price is at or above the Interest Barrier of 65.00% of the Strike Value, which is $41.8145.

The notes are automatically called, starting as early as February 26, 2026, if NIKE’s share price on a Review Date (other than the final one) is at or above the Strike Value of $64.33, returning $1,000 plus the applicable contingent interest, and ending further payments. If the notes are not called and NIKE’s final share price is at or above the Trigger Value (also 65.00% of the Strike Value), investors receive $1,000 plus the final contingent interest. If the final price is below the Trigger Value, repayment is reduced one-for-one with NIKE’s decline, and investors can lose more than 35% and up to all of their principal.

The notes are unsecured, not FDIC insured, and subject to JPMorgan Financial’s and JPMorgan Chase & Co.’s credit risk. If priced today, the estimated value would be about $975 per $1,000 note and will not be less than $950 per $1,000 at pricing.

JPMorgan Chase & Co. is offering callable fixed rate notes maturing on March 11, 2030. The notes pay fixed interest at an annual rate of 4.00%, with interest paid in arrears each December 11 from 2026 through 2029 and at maturity, calculated on a 30/360 day count basis. Investors receive their principal back at maturity plus any accrued interest if the notes have not been redeemed earlier.

Beginning December 11, 2027 and on the 11th calendar day of March, June, September and December through December 11, 2029, JPMorgan may redeem the notes in whole at par plus accrued interest. The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits and are not insured by the FDIC or any governmental agency. The pricing supplement highlights resolution and bankruptcy considerations for unsecured creditors, potential conflicts of interest in distribution, secondary market and liquidity risks, and confirms that the notes are expected to be treated as fixed-rate debt for U.S. federal income tax purposes.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering 3-year non-call 6-month auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index (MQUSTVA). The index references an unfunded total-return position in the Invesco QQQ Trust, less a daily notional financing cost, and itself deducts 6.0% per year on a daily basis.

The notes may pay contingent interest at a rate of at least 12.50% per annum, paid quarterly at a rate of at least 3.125% per quarter, but only if on a review date the index level is at or above an interest barrier set at 60% of the initial value. If on any review date other than the first and final the index is at or above its initial value, the notes are automatically called at $1,000 plus the applicable contingent interest.

If the notes are not called and, on the final review date, the index is at or above the 60% trigger value, investors receive $1,000 plus the final contingent interest. If the final index value is below the trigger, repayment is reduced 1% for each 1% decline from the initial value, leading to losses greater than 40% of principal and potentially a total loss. The issuer’s estimated value will be at least $900 per $1,000 note, and all payments depend on the credit risk of both issuing and guaranteeing entities.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering 5-year auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index. The Index uses leveraged E-Mini S&P 500 futures exposure with a maximum 500% allocation and includes a 6.0% per annum daily deduction.

The notes have a minimum denomination of $1,000, a pricing date of December 18, 2025, final review date of December 18, 2030 and maturity on December 23, 2030. They pay a contingent interest rate of at least 11.00% per year, or at least 2.75% per quarter, only if on a review date the Index is at or above 60.00% of its initial value. The notes are automatically called if, on any review date other than the first and final, the Index is at or above its initial level.

If not called, and the final Index value is at or above 60.00% of the initial value, investors receive principal plus the final contingent interest. If the final value is below that level, repayment is reduced 1% for each 1% Index decline from the initial value, and investors can lose all principal. The estimated value will not be less than $900 per $1,000 note, and 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 Uncapped Dual Directional Accelerated Barrier Notes linked to the Nasdaq-100 Technology Sector Index, the S&P 500 Index and the Russell 2000 Index, maturing on December 24, 2030. The notes aim to pay at maturity at least 1.62 times any positive return of the worst-performing index. If any index is at or below its initial level but all three stay at or above 70% of their initial levels, investors receive a positive return equal to the absolute decline of the worst index, capped at 30%, for a maximum payment of $1,300 per $1,000 note in that scenario.

If any index finishes below 70% of its initial level, the principal is exposed one-for-one to the loss of the worst index, and investors can lose most or all of their investment. The notes pay no interest, provide no dividends, are unsecured and unsubordinated, and depend on the credit of both JPMorgan Financial and JPMorgan Chase & Co. An indicative estimated value is about $966.50 per $1,000 note, reflecting selling commissions, hedging costs and issuer funding assumptions.

JPMorgan Chase Financial Company LLC plans to issue structured notes linked to the lesser performing of the EURO STOXX 50 Index and the iShares MSCI EAFE ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price around December 18, 2025 and mature on June 23, 2028, in minimum denominations of $1,000.

At maturity, if both underlyings finish above their initial values, investors receive $1,000 plus an additional amount based on the weaker performer and a participation rate of at least 100%. If either underlying ends below its initial value, repayment is reduced in line with the decline of the lesser performer, but not below $950 per $1,000 note. The notes pay no interest or dividends and expose holders to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

If the notes priced today, the estimated value would be about $963.80 per $1,000, and when finally set it will not be less than $900, reflecting selling commissions, hedging costs and issuer funding considerations.

JPMorgan Chase & Co. is offering callable fixed to floating rate notes due December 22, 2045. Investors receive an initial fixed interest rate of 11.00% per annum through December 23, 2027, paid quarterly, after which the rate resets each period to 1.25 × (7.00% − the Benchmark Rate), with a minimum of 0.00% per annum and the Benchmark Rate initially based on Compounded SOFR.

The notes are callable at the issuer’s option quarterly, starting December 23, 2027, at par plus accrued interest, so investors face reinvestment and call risk if rates fall. The notes are unsecured obligations of JPMorgan Chase & Co. and would rank behind claims of its subsidiaries in a resolution scenario described under U.S. “single point of entry” and Title II strategies.

The pricing supplement highlights risks from SOFR volatility, benchmark transition mechanics that can change the reference rate, limited secondary market liquidity and the possibility of 0% interest in later years. For U.S. tax purposes, JPMorgan currently intends to treat the notes as contingent payment debt instruments, requiring investors to accrue original issue discount based on a comparable yield, which may cause taxable income to differ significantly from cash interest received.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering six series of Capped Buffered Return Enhanced Notes linked separately to the EURO STOXX 50®, Nasdaq‑100, Russell 2000®, S&P 500®, iShares® MSCI EAFE ETF and iShares® MSCI Emerging Markets ETF, maturing on December 23, 2027.

The notes provide 2.00x leveraged upside on any positive performance of the relevant underlying, but gains are capped by a maximum return that varies by series (for example, indicative caps of about 18.75%–32.50%, depending on the underlying). A 10% downside buffer protects principal against modest declines; below that level, investors lose 1% of principal for each additional 1% drop, up to a loss of 90% of principal at maturity.

The notes pay no interest or dividends, are unsecured and unsubordinated obligations of the issuer, and will not be listed on any exchange, so liquidity will rely on dealer trading. If priced on the indicative date, estimated values are shown around the mid‑$970s per $1,000, and the final estimated value will not be less than $900. Key risks include issuer and guarantor credit risk, market and underlying‑specific volatility, pricing and valuation frictions, limited liquidity, and complex U.S. tax treatment.

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 on December 23, 2030. The notes target at least 1.48× any positive return of the worst-performing index at maturity, but repay only principal if any index is flat or down while all remain at or above 70% of its initial level. If any index finishes below this 70% barrier, repayment is reduced 1% of principal for each 1% decline in the least performing index, and principal loss can reach 100%.

The notes pay no interest, pass through no index dividends and are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. Minimum denomination is $1,000, and the notes will not be listed on an exchange, so liquidity will rely on dealer trading. If priced today, the estimated value would be about $930.60 per $1,000 note and will not be less than $900.00 per $1,000 at pricing, reflecting embedded selling costs and hedging economics.

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 Large-Cap Vol Advantage Index. The notes have a minimum denomination of $1,000 and reference the index level, which reflects a 6.0% per annum daily deduction.

The notes pay a contingent interest rate of at least 10.50% per annum, credited quarterly at a rate of at least 2.625%, but only if on a review date the index is at or above a specified interest barrier. The notes can be automatically called on certain quarterly review dates if the index closes at or above its initial value, returning principal plus that period’s contingent interest.

If the notes are not called and, at maturity in December 2030, the index is at or above 50% of its initial value, investors receive principal plus the final contingent interest payment. If the final index value is below that 50% trigger level, repayment is reduced one-for-one with the index decline from the initial value, so investors can lose more than half, and 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, fully guaranteed by JPMorgan Chase & Co., is offering 5-year, auto-callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index (MQUSTVA). The notes have a minimum denomination of $1,000 and are scheduled to price on December 19, 2025, with quarterly review dates and maturity 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 the index is at or above 60% of its initial level on a review date. They can be automatically called if the index is at or above its initial level on any review date other than the first and final. Principal is fully at risk below the 60% trigger at maturity, and payments depend on both the leveraged, fee‑reduced index performance and the credit of the issuer and guarantor.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering five-year, auto-callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index (MQUSTVA). The index provides rules-based exposure to an unfunded position in the Invesco QQQ Trust, Series 1, subject to a 6.0% per annum daily deduction and a notional financing cost.

The notes have a $1,000 minimum denomination, quarterly review dates and an initial contingent interest rate of at least 9.50% per annum, paid quarterly at a rate of at least 2.375% if the index level is at or above a barrier set at 50% of the initial value. If on certain review dates the index is at or above its initial value, the notes are automatically called and pay back principal plus the applicable interest, with no further payments.

If the notes are not called and the final index value is at or above the trigger level, investors receive principal plus the final contingent interest payment. If the final value is below the trigger, repayment is reduced dollar-for-dollar with the index decline from the initial level, so investors can lose more than half, or all, of their principal. The estimated value at pricing will be at least $900 per $1,000 note, and all payments are subject to the credit risk of the issuer and guarantor.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering 3-year auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index. The notes have a minimum denomination of $1,000 and 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 60.00% of its initial value.

If on any Review Date other than the first and final dates the Index closes at or above its initial value, the notes are automatically called and pay $1,000 plus the applicable contingent interest, with no further payments. At maturity, if not called and the final Index value is at or above the 60.00% Trigger Value, investors receive $1,000 plus the final contingent interest payment. If the final value is below the Trigger Value, repayment is $1,000 plus $1,000 times the Underlying Return, so investors lose 1% of principal for every 1% the Index has fallen and can lose their entire investment.

The Index uses leveraged E‑Mini S&P 500 futures exposure with a 6.0% per annum daily deduction and may be significantly uninvested or volatile. Payments depend on the credit of JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co., and the notes may be illiquid, may never pay interest, and have an estimated value lower than the $1,000 issue price.

JPMorgan Chase Financial Company LLC is offering $141,000 of Auto Callable Accelerated Barrier Notes linked to the iShares Bitcoin Trust ETF (IBIT), fully guaranteed by JPMorgan Chase & Co. The notes are priced at $1,000 each, with fees and commissions of $9.2553 per note and issuer proceeds of $990.7447 per note, while the estimated value is $940.70.

The notes may be automatically called on November 30, 2026 if the ETF’s price is at or above the Call Value, paying back principal plus a fixed Call Premium Amount of $267.50 per $1,000 note. If not called and held to November 30, 2028, investors receive an uncapped leveraged payoff of 1.50 times any positive ETF return, full principal back if the final price is at or above 70% of the initial level, and a one-for-one loss of principal if the final price falls below this barrier.

The notes pay no interest, are unsecured and unsubordinated, and expose holders to both JPMorgan credit risk and the high volatility and regulatory uncertainty associated with bitcoin, since IBIT seeks to track bitcoin’s price. The product carries additional risks, including potential early acceleration if the fund is liquidated, limited liquidity as the notes are not exchange-listed, and secondary market values that are expected to be below the original issue price.

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 on December 24, 2030. The notes pay a contingent interest rate of at least 9.00% per annum (at least $7.50 per $1,000 monthly) only when the Index is at or above 75% of its initial level on a review date; missed coupons can be paid later if the barrier is met.

The notes are automatically called, starting December 21, 2026, if on certain review dates the Index is at or above its initial level, returning $1,000 plus due and unpaid contingent interest. At maturity, if not called and the Index is at or above 70% of its initial level, investors receive full principal plus any due contingent interest; if it is below 70%, principal is reduced one-for-one beyond a 30% buffer, with up to a 70% loss of principal possible.

The underlying Index uses up to 500% leverage, targets 35% implied volatility and is reduced by a 6.0% per annum daily deduction and a notional financing cost on the QQQ Fund, which can significantly drag performance. The notes are unsecured, not FDIC insured, and their value and payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is offering preliminary terms for Digital Equity Notes due January 13, 2027, linked to the S&P 500® Index and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are issued at 100% of principal, pay no periodic interest, and are designed to provide a capped return if the index does not fall more than 10% from its initial level.

At maturity, for each $1,000 note, investors are expected to receive a fixed "threshold settlement amount" between $1,093.50 and $1,110.00 if the final index level is at least 90% of the initial level. If the index declines by more than 10%, principal is lost on a leveraged basis, with approximately 1.1111% loss for every 1% drop beyond the 10% buffer, down to total loss if the index falls to zero. The estimated value is expected between $981.80 and $991.80 per $1,000 note, reflecting structuring and hedging costs.

The notes are unsecured obligations of JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., are not bank deposits, carry credit risk, will not be listed on an exchange, and may have limited or no liquidity. Tax treatment is complex and based on an "open transaction" approach that could change if future IRS or Treasury guidance is issued.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured Auto Callable Contingent Interest Notes linked to the MerQube US Tech+ Vol Advantage Index, maturing on December 24, 2030. The notes may pay a quarterly Contingent Interest Payment of at least $26.25 per $1,000 (a rate of at least 10.50% per annum) for any Review Date where the Index closes at or above 50% of its Initial Value, and they can be automatically called starting December 21, 2026 if the Index is at or above its Initial Value.

If the notes are not called and the Final Index Value is at or above 50% of the Initial Value, investors receive their $1,000 principal plus the final Contingent Interest Payment; if it is below that level, repayment is reduced one-for-one with the Index decline, with losses that can exceed 50% of principal and extend to a total loss. The Index itself is complex, using dynamic leverage up to 500%, a 6.0% per annum daily deduction and a notional financing cost on QQQ exposure, all of which weigh on performance. The notes are not bank deposits, are not FDIC insured, and carry the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing is expected to be about $923 and not less than $900 per $1,000 note.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing on December 24, 2030. The notes pay a quarterly contingent coupon of at least 13.50% per annum if, on a Review Date, the Index is at or above 60% of its Initial Value; otherwise no interest is paid for that period.

The notes are automatically called, returning principal plus the applicable coupon, if on any Review Date other than the first and final the Index is at or above its Initial Value, with the earliest call date on June 22, 2026. If the notes are not called and the Final Value is below the 60% Trigger Value, repayment at maturity is reduced in line with the Index decline, and principal losses can exceed 40% and reach 100%.

The Index itself employs leveraged exposure to E-mini S&P 500 futures, targets 35% implied volatility and is subject to a 6.0% per annum daily deduction, which drags performance. The minimum denomination is $1,000; the preliminary estimated value is about $929.60 per $1,000, and the notes are unsecured, unsubordinated obligations exposed to the credit risk of both issuer and guarantor.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes run to December 22, 2028 and may be called early as soon as June 22, 2026 if the Index is at or above its Initial Value on a review date.

Investors can receive quarterly contingent interest, at a rate expected to be at least 12.50% per annum, but only when the Index closes at or above 60% of its Initial Value. Principal is protected only if, at maturity, the Index is at or above this 60% trigger; otherwise losses match the Index decline and can reach 100%. The Index itself includes a 6.0% per annum daily deduction and a notional financing cost, uses up to 500% leverage and may be significantly uninvested, all of which can drag on performance and increase volatility.

JPMorgan Chase Financial Company LLC is offering auto callable yield notes linked to the common stock of Broadcom Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay an interest rate of at least 10.50% per annum, or at least 2.625% per quarter, as long as they are outstanding.

The notes may be automatically called on any review date from December 7, 2026 onward if Broadcom’s share price is at or above the initial value, in which case investors receive principal plus the applicable interest payment and no further coupons. If the notes are not called and Broadcom’s final share price is below a trigger value set at 50% of the initial value in the hypotheticals, investors lose 1% of principal for each 1% decline from the initial value, and can lose most or all of their investment.

The price to public is $1,000 per note, with fee-based advisory accounts paying no less than $971.50 per $1,000, and selling commissions on brokerage sales capped at $28.50 per $1,000. The preliminary estimated value is about $950 per $1,000, and will not be less than $930 per $1,000 when set, reflecting embedded selling, structuring and hedging costs. The notes are unsecured, not listed, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and offer no dividends or voting rights in Broadcom.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing on December 24, 2030. Each note has a $1,000 denomination and can pay a quarterly contingent coupon of at least 10.50% per annum (at least $26.25 per quarter) if, on a review date, the Index is at or above 50% of its initial level.

The notes are automatically called, starting with the December 21, 2026 review date, if the Index is at or above its initial level, returning $1,000 plus the due coupon and ending further payments. If held to maturity and not called, investors receive $1,000 plus the final coupon if the Index is at or above 50% of its initial level, but take a one-for-one loss if it finishes below that threshold, risking a loss of more than half, up to all, of principal.

The Index embeds a 6.0% per annum daily deduction, which drags on performance and can cause it to lag an otherwise similar index. The preliminary estimated value is about $923 per $1,000 note, reflecting structuring and hedging costs, and secondary market liquidity is expected to be limited.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Small-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a quarterly contingent interest rate of at least 11.00% per annum (at least $27.50 per $1,000) only if, on a Review Date, the Index is at or above 60% of its initial level.

The notes may be automatically called on any Review Date from June 18, 2026 (except the first and final dates) if the Index is at or above its initial level, returning $1,000 plus the applicable contingent interest. If the notes are not called and the Index is below the 60% trigger at maturity, investors lose principal in line with the Index decline and can lose their entire investment.

The underlying Index uses leveraged exposure to E-mini Russell 2000 futures and is subject to a 6.0% per annum daily deduction, which drags performance and can cause decline even when futures are flat or modestly positive. Payments on the notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial and depend on the credit of both the issuer and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC plans to issue auto callable yield notes linked to the common stock of Broadcom Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay an annual interest rate of at least 10.50%, credited quarterly at a rate of at least 2.625%, as long as the notes remain outstanding and are not automatically called.

The notes may be automatically called on any review date starting on December 7, 2026 if Broadcom’s share price is at or above the initial value, returning principal plus the applicable interest payment. If the notes are not called and Broadcom’s final share price falls below a trigger level, investors lose 1% of principal for each 1% decline from the initial value and can lose most or all of their investment. The notes are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., are not bank deposits or FDIC insured, may have limited liquidity, and have an estimated value of about $950 per $1,000 principal (and not less than $930 when finalized), reflecting embedded fees and hedging costs.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the common stock of Amazon.com, Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a quarterly contingent interest rate of at least 12.10% per annum (at least $30.25 per $1,000 note per quarter) only if Amazon’s share price on a Review Date is at or above the Interest Barrier, set at 70.00% of the Strike Value, or $160.769.

The notes can be automatically called on any Review Date other than the first and last if Amazon’s share price is at or above the Strike Value of $229.67, with investors receiving principal plus due and unpaid contingent interest. If the notes are not called and Amazon’s final share price on May 25, 2027 is below the Trigger Value (also 70.00% of the Strike Value), repayment of principal is reduced one-for-one with Amazon’s decline, and investors may lose all of their investment.

The notes are unsecured and unsubordinated obligations of JPMorgan Chase Financial, guaranteed by JPMorgan Chase & Co., and are not bank deposits or FDIC insured. They will not be listed on any securities exchange. The preliminary estimated value is approximately $970.00 per $1,000 note and will not be less than $950.00, reflecting embedded selling commissions, hedging costs and issuer funding assumptions.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Small-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are issued in minimum denominations of $1,000 and are scheduled to mature on December 24, 2030, unless automatically called earlier.

The notes pay a contingent interest rate of at least 13.50% per annum, or at least 3.375% per quarter, but only for review dates when the Index level is at or above 60% of its initial value, which serves as both the interest barrier and trigger level. If, on any review date other than the first and final, the Index is 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 level on the last review date is at or above the 60% trigger, investors receive $1,000 plus the final contingent interest. If the final level is below the trigger, repayment of principal is reduced one-for-one with the Index loss, and investors can lose more than 40% and up to all of their principal. The underlying Index includes a 6.0% per annum daily deduction, which is a structural drag on Index performance, and the notes are unsecured obligations subject to the credit risk of 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 Class A common stock of Meta Platforms, Inc., due May 31, 2028. Each note has a $1,000 denomination and pays a Contingent Interest Rate of at least 12.60% per annum (3.15% per quarter) only if Meta’s closing share price on a Review Date is at or above the Interest Barrier, set at 70.00% of the Strike Value.

The Strike Value is $636.22, set on November 25, 2025, so the Interest Barrier and Trigger Value are $445.354. If Meta’s price on any Review Date from May 26, 2026 (excluding the first and final Review Dates) is at or above the Strike Value, the notes are automatically called, and investors receive $1,000 plus the current and any unpaid contingent interest.

If the notes are not called and Meta’s final price is at or above the Trigger Value, investors receive $1,000 plus the final and any unpaid contingent interest. If the final price is below the Trigger Value, repayment is reduced in line with the stock’s loss, so investors can lose more than 30% and up to all principal. The notes do not pay fixed interest or dividends and are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated value would be about $970 per $1,000 note if priced today, and will not be less than $950 when set.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing on December 23, 2030. The notes pay a contingent interest rate of at least 9.50% per annum (at least $23.75 per quarter per $1,000) only if the Index on a Review Date is at or above 50.00% of its Initial Value, which is both the Interest Barrier and Trigger Value.

The notes may be automatically called on any Review Date from December 18, 2026 (except the first three and final Review Dates) if the Index is at or above the Initial Value, returning $1,000 plus the applicable contingent interest. If the notes are not called and the Final Value is below the Trigger Value, investors receive $1,000 plus $1,000 times the Index Return, and can lose more than 50% or all principal.

The underlying Index uses leveraged exposure (up to 500%) to E-mini S&P 500 futures with a 6.0% per annum daily deduction, which drags on performance and can cause the Index to underperform similar strategies without a deduction. The estimated value of the notes, if priced today, would be approximately $904.40 per $1,000 principal amount and will not be less than $900.00 per $1,000 at pricing.

JPMorgan Chase Financial Company LLC is issuing unsecured Auto Callable Contingent Interest Notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Payment for each Review Date on which the Index closes at or above 60% of its Initial Value, and may be automatically called starting June 22, 2026 if the Index is at or above its Initial Value.

The notes do not guarantee a return of principal; if they are not called and the Final Value is below the Trigger Value (60% of the Initial Value), investors lose 1% of principal for each 1% Index decline, up to a total loss. A hypothetical Contingent Interest Rate of 13.50% per year (3.375% per quarter) is illustrated, and if priced today the estimated value would be about $929.60 per $1,000 note, with a minimum estimated value at pricing of $900.00.

The Index uses dynamic, leveraged exposure (up to 500%) to the Invesco QQQ Trust, Series 1, is subject to a 6.0% per annum daily deduction and a daily notional financing cost, which together drag on performance and can cause the Index to lag or decline even when the underlying asset rises. The notes are not bank deposits, are not FDIC insured, and expose holders to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index, guaranteed by JPMorgan Chase & Co. The notes run to December 23, 2030 and can be automatically called as early as June 18, 2026 if the Index is at or above its Initial Value on a review date.

Investors may receive a quarterly Contingent Interest Payment at a rate of at least 11.00% per annum when the Index is at or above 60% of the Initial Value, which serves as both the Interest Barrier and Trigger Value in the examples. If the notes are not called and the Final Value is below the Trigger Value, principal is reduced one-for-one with the Index decline, potentially resulting in a total loss.

The underlying 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, which materially drags performance. The notes are unsecured obligations, pay no dividends, are not FDIC insured and have an estimated value of about $900.80 per $1,000 principal, not less than $900.00 at pricing.

JPMorgan Chase Financial Company LLC is offering unsecured review notes linked to the MerQube US Tech+ Vol Advantage Index, maturing in December 2030 and fully guaranteed by JPMorgan Chase & Co. The notes can be automatically called as early as December 7, 2026 if the Index closes at or above the Call Value, paying back principal plus a preset Call Premium Amount.

Investors give up interest and dividends and accept downside risk: if the notes are not called and the Index falls more than the 15% buffer, principal is reduced 1% for each 1% drop beyond that, up to an 85% loss. The Index applies a 6.0% per annum daily deduction and a notional financing cost, which drag performance and magnify losses, especially when combined with leverage of up to 500% exposure to the QQQ Fund.

The notes are expected to be sold in $1,000 minimum denominations, with an estimated value of about $909.60 per $1,000 at pricing, not less than $900. They do not trade on an exchange, may be hard to sell, and all payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the Dow Jones Industrial Average®, the Nasdaq-100® Technology Sector IndexSM and the Russell 2000® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a monthly contingent coupon at a rate expected to be at least 10.00% per annum if, on a Review Date, each index is at or above 80% of its initial level. The notes can be automatically called as early as June 5, 2026 if each index is at or above its initial level, returning principal plus the applicable coupon. If the notes are not called and any index finishes below its 70% trigger level at maturity, investors lose 1% of principal for each 1% decline of the worst-performing index, and could lose their entire investment. The estimated value is illustrated at about $961.50 per $1,000 note, with a minimum disclosed estimated value of $900.00 per $1,000 at pricing, and the notes are unsecured, not FDIC insured, and subject to JPMorgan credit and liquidity risk.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes target investors seeking high contingent income but who can tolerate substantial downside risk.

Holders receive a Contingent Interest Payment on a Review Date only if the Index closes at or above 60% of its Initial Value (the Interest Barrier). The notes are automatically called, starting with the June 18, 2026 Review Date, if the Index closes 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 Index finishes below the Trigger Value (also 60% of Initial Value) at maturity, principal is reduced 1% for each 1% Index decline, potentially to zero. The Index embeds a 6.0% per annum daily deduction, which drags performance and can cause declines even when its futures strategy is flat or modestly positive. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., pay no fixed interest or dividends, may be illiquid, and raise complex U.S. tax considerations.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering structured “Review Notes” linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500 indices, maturing in November 2030.

The notes can be automatically called on scheduled review dates starting in November 2026 if each index is at or above its strike level, paying back $1,000 per note plus a call premium that steps up from at least 14% to at least 70% by the final review date. If the notes are not called and each index finishes at or above 70% of its strike, investors receive only their principal back at maturity.

If any index closes below 70% of its strike on the final review date, repayment is reduced one-for-one with the loss on the worst-performing index, so investors can lose more than 30% and up to all of their principal. The notes pay no interest or dividends, are unsecured obligations with minimum denominations of $1,000, and have an indicative estimated value of about $970.60 per $1,000, not less than $940. They are intended for investors who can tolerate equity index risk and limited upside.

JPMorgan Chase Financial Company LLC is offering callable contingent interest notes linked individually to 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 pay a monthly Contingent Interest Payment of at least $6.7917 per $1,000 (at least 8.15% per annum) for each Review Date on which every index closes at or above 70% of its Initial Value. If any index is below this Interest Barrier on a Review Date, no interest is paid for that period.

The issuer may redeem the notes early, in whole, on specified Interest Payment Dates starting March 5, 2026, paying $1,000 plus any due contingent interest. If the notes are not redeemed and, on the final Review Date, every index is at or above 60% of its Initial Value, investors receive $1,000 plus any final contingent interest. If any index ends below 60%, the maturity payment is reduced in proportion to the worst index’s loss, and investors can lose more than 40% and up to all principal. The notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and the estimated value is currently about $961.10 per $1,000, with a minimum final estimated value of $900.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Digital Barrier Notes due June 8, 2027 linked separately to the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index. The notes target a fixed Contingent Digital Return of at least 12.75% at maturity if the Final Value of the least performing index is at or above 65% of its Initial Value on the June 3, 2027 observation date.

If any index finishes below the 65% barrier, principal is reduced 1% for every 1% decline in the least performing index, so investors can lose more than 35% and up to all of their principal. The notes pay no periodic interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not be listed on an exchange. The preliminary estimated value is about $982.80 per $1,000 note, and the final estimated value will not be less than $900.00 per $1,000.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering capped buffered equity notes linked to the S&P 500® Index, maturing on December 8, 2028. Each note has a $1,000 denomination and provides 1.00x upside exposure to any S&P 500® gain, capped at a maximum return of at least 33.00%, so the maximum payment at maturity is at least $1,330 per $1,000 note.

The notes include a 20.00% downside buffer: if the index ends flat or down by up to 20%, investors receive their principal back at maturity. If the index falls by more than 20%, holders lose 1% of principal for each additional 1% decline, for a potential loss of up to 80.00% of principal.

The notes pay no interest and provide no dividends from S&P 500® companies. They are unsecured and unsubordinated obligations of JPMorgan Chase Financial Company LLC, subject to the credit risk of both the issuer and JPMorgan Chase & Co. If priced on the date referenced, the estimated value would be about $982.50 per $1,000 note and, when finally set, will not be less than $900.00 per $1,000 note.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured Uncapped Buffered Return Enhanced Notes linked to the S&P 500® Futures Excess Return Index, maturing on December 10, 2030. The notes target an uncapped payoff of at least 1.51 times any positive Index performance at maturity, with no periodic interest payments.

Principal is protected only up to a 20.00% buffer. If the Index falls more than 20.00%, investors lose 1% of principal for each additional 1% decline, up to a maximum loss of 80.00% of principal. The hypothetical payout table shows, for example, that a 10.00% Index gain would pay $1,151.00 per $1,000 note, while a 50.00% decline would pay $700.00.

Minimum denomination is $1,000. If priced on the illustrated date, the estimated value would be about $947.50 per $1,000 note and will not be less than $900.00, reflecting selling commissions, hedging costs and issuer funding assumptions. Key risks include issuer and guarantor credit risk, no listing or guaranteed liquidity, potential negative roll returns in futures, basis risk versus the S&P 500® Index itself and complex, evolving U.S. tax treatment.

JPMorgan Chase Financial Company LLC is offering Uncapped Dual Directional Buffered Return Enhanced Notes linked to the least performing of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index, maturing on December 23, 2027 and fully guaranteed by JPMorgan Chase & Co.

The notes aim to pay at maturity at least 1.07705× any positive return of the least performing index, with no upside cap when all indices rise. If the least performing index finishes up to 20.00% below its initial level, investors receive a positive return equal to the absolute decline, allowing gains on moderate index losses.

If any index falls by more than 20.00%, principal is reduced 1% for each additional 1% drop in the least performing index, for a maximum loss of 80.00% (down to $200 per $1,000). The notes pay no interest or dividends, are unsecured, not FDIC insured, and may be illiquid. If priced today, the estimated value would be about $979.50 per $1,000, and will not be less than $940.00 when terms are set.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the Class A common stock of Alphabet Inc. (GOOGL), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are scheduled to mature on May 28, 2027, in minimum denominations of $1,000.

The notes pay a quarterly contingent interest rate of at least 14.45% per annum (3.6125% per quarter) only if Alphabet’s share price on a Review Date is at or above 70% of the Strike Value, which also serves as the Trigger Value. Missed interest can be paid later if a future Review Date meets the barrier. The notes are automatically called, with return of principal plus interest, if Alphabet’s price on any Review Date from May 26, 2026 (excluding the first and final dates) is at or above the Strike Value.

If the notes are not called and Alphabet’s final price is below the Trigger Value, investors lose 1% of principal for each 1% Alphabet has fallen from the Strike Value, up to a total loss of principal, and may receive no interest at all. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The preliminary estimated value is about $967 per $1,000 note and will not be less than $950 per $1,000 when finalized, reflecting embedded structuring and distribution costs.

JPMorgan Financial, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent buffered return enhanced notes linked to the EURO STOXX 50® Index, maturing on November 30, 2027. The notes may be automatically called on December 8, 2026 if the Index closes at or above the strike level, paying $1,000 plus a call premium of at least 15.06% per note on the call settlement date.

If not called and the Index ends above the strike, investors receive an uncapped leveraged upside of at least 1.50x the Index gain. If the Ending Index Level is at or up to 20% below the strike, principal is returned at maturity; below that buffer, principal loss is 1% for each 1% Index decline, up to total loss. The minimum denomination is $10,000. The estimated value is about $979.30 per $1,000 note and will not be less than $960.00, reflecting structuring, distribution and hedging costs. Key risks include loss of principal, issuer and guarantor credit risk, reinvestment and liquidity risk, complex tax treatment and potential conflicts of interest.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., plans to issue auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, maturing on December 23, 2030. The notes target investors seeking high, contingent quarterly interest of at least 9.50% per annum, paid only when the Index closes at or above 50% of its initial level on a review date.

The notes can be automatically called as early as December 18, 2026 if the Index is at or above its initial value on certain review dates, returning principal plus the applicable interest coupon. If the notes are never called and the Index finishes below the 50% trigger level at maturity, investors lose 1% of principal for every 1% Index decline, potentially up to a total loss. The underlying Index is complex, uses leverage up to 500%, and embeds a 6.0% yearly fee plus a financing cost, which drags performance and can cause the Index to underperform the QQQ Fund and similar strategies. The preliminary estimated value is about $904.40 per $1,000 note, with a final value not less than $900.00.

JPMorgan Chase Financial Company LLC is offering callable contingent interest notes linked to the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are scheduled to mature on November 30, 2027 and are issued in minimum denominations of $1,000.

Investors may receive a contingent monthly interest payment only when the closing level of each index on a Review Date is at or above 70% of its Strike Value. A hypothetical contingent interest rate of 11.50% per annum (0.95833% per month) is used for illustrations, and the actual rate will be at least this level and set at pricing. The notes can be called at the issuer’s option on certain Interest Payment Dates starting May 29, 2026, which would stop any future interest payments.

If the notes are not redeemed early and the Final Value of the least performing index is below its Trigger Value (70% of Strike), principal is reduced 1% for each 1% decline, potentially down to zero. The estimated value is currently indicated at approximately $979.80 per $1,000 note and will not be less than $940.00, lower than the issue price because it includes selling commissions, hedging costs and projected profits. The notes are unsecured, subject to the credit risk of both the issuer and JPMorgan Chase & Co., and will not be listed on any exchange.

JPMorgan Chase Financial Company LLC plans to offer auto callable accelerated barrier notes linked to the least performing of the Dow Jones Industrial Average, Nasdaq-100 Index and Russell 2000 Index, maturing in December 2028 and fully guaranteed by JPMorgan Chase & Co. Each note has a minimum denomination of $1,000. If, on the December 2026 review date, all three indices are at or above their call values, the notes are automatically called and pay back principal plus a call premium of at least $220 per $1,000 note.

If not called and each index finishes above its initial value at maturity, investors receive principal plus 150% of the gain in the least performing index. If any index finishes between 70% and 100% of its initial value, principal is returned. If any index closes below 70% of its initial value, principal is reduced one-for-one with the loss in the least performing index, up to a total loss. The preliminary estimated value is about $986.80 per $1,000 note, reflecting selling, structuring and hedging costs. The notes pay no interest or dividends and expose investors to issuer and market risk.

JPMorgan Chase Financial Company LLC is offering capped structured notes linked to the S&P 500® Futures Excess Return Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes target investors who want index-linked upside over roughly five years, with a participation rate of 108.70% in any positive Index return, but with gains capped by a Maximum Amount of at least $500 per $1,000 note.

At maturity in December 2030, investors receive their $1,000 principal per note plus an Additional Amount based on Index performance, up to the cap. If the Index is flat or down, only principal is repaid, so there is no downside participation but also no interest payments over the life of the notes.

The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial and carry the credit risk of both the issuer and JPMorgan Chase & Co., and they are not bank deposits or FDIC insured. The indicative estimated value is about $948.20 per $1,000 note, and will not be less than $900.00, reflecting selling commissions, hedging costs and issuer funding assumptions. The notes will not be listed on an exchange, and secondary market liquidity and pricing may be limited.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes target investors seeking high contingent income in exchange for meaningful downside risk and limited upside.

The notes can pay a contingent interest rate of at least 10.50% per annum, paid quarterly (at least 2.625% per quarter), but only for review dates when the index closes at or above 60% of its initial value. Starting June 18, 2026, the notes are automatically called if the index is at or above its initial value, returning principal plus the applicable interest and ending all future payments.

If the notes are not called and the final index level is at least 60% of the initial value, investors receive principal back plus the last contingent interest payment. If the final level is below 60%, repayment is reduced one-for-one with the index loss, and investors can lose more than 40% and up to all of their principal.

The underlying index applies a 6.0% per annum daily deduction and a notional financing cost on QQQ exposure, which systematically drags performance versus a similar index without these charges. The notes are unsecured, not FDIC insured, not exchange-listed and carry credit risk of both the issuer and guarantor. If priced on the indicated date, the estimated value would be about $920.80 per $1,000 note, and will not be less than $900.00 per $1,000 when finalized.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing December 5, 2030. The notes pay a quarterly contingent interest rate of at least 11.30% per annum (at least $28.25 per $1,000) only if, on a Review Date, the Index is at or above 60% of its Initial Value.

The notes are automatically called, starting June 1, 2026, if on any non‑first, non‑final Review Date the Index closes at or above its Initial Value, returning $1,000 plus the applicable interest, with no further payments. If held to maturity and the Final Value is at or above 60% of the Initial Value, investors receive $1,000 plus the final interest; if below, repayment is reduced one‑for‑one with the Index loss, potentially down to zero.

The underlying Index is a leveraged, volatility‑targeted E‑mini S&P 500 futures strategy subject to a 6.0% per annum daily deduction, which acts as a persistent drag on performance. The notes are unsecured obligations, exposed to the credit risk of both the issuer and guarantor. The preliminary estimated value is about $901.20 per $1,000 note and will not be less than $900.00 at pricing, reflecting embedded costs and hedging.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing on December 5, 2030. The notes can pay a contingent interest rate of at least 14.00% per annum (at least 3.50% per quarter) when, on a Review Date, the Index is at or above 60.00% of its Initial Value. If on certain Review Dates (other than the first and final) the Index is at or above the Initial Value, the notes are automatically called and repay $1,000 per note plus the applicable interest, ending future payments.

If the notes are not called and the Final Value is below 60.00% of the Initial Value, repayment at maturity is reduced one-for-one with the Index decline, and investors can lose more than 40% and up to all of their principal. The Index itself includes a 6.0% per annum daily deduction, which creates a drag on performance compared with a similar index without this fee. These unsecured notes, in $1,000 minimum denominations, have an initial estimated value of about $932.20 per $1,000 and will not be less than $900.00 per $1,000 when priced.

JPMorgan Chase & Co. is offering $3,560,000 of callable fixed rate notes maturing on November 27, 2030. The notes pay interest at a fixed rate of 4.35% per annum, with interest paid annually on November 28, beginning in 2026, based on a 30/360 day count. The notes are issued at $1,000 per note, with proceeds to the issuer of $998.228 per $1,000 after fees.

Starting November 28, 2027, and on the 28th calendar day of May and November through May 28, 2030, JPMorgan may redeem the notes at par plus accrued interest on any Redemption Date. The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits and are not insured by the FDIC or any government agency. In a JPMorgan group resolution under U.S. bankruptcy or Dodd-Frank Title II rules, losses could be imposed on noteholders after equity holders and ahead of subsidiary-level creditors, and recovery could be limited.

JPMorgan Chase & Co. is issuing $4,056,000 of callable fixed rate notes due November 28, 2033. The notes pay interest at 4.60% per annum, with interest paid annually on November 28, starting in 2026, using a 30/360 day count convention.

Beginning November 28, 2027, and then every February, May, August and November 28 through August 28, 2033, the issuer may call the notes at par plus accrued interest. At maturity, if not previously redeemed, investors receive principal plus any accrued and unpaid interest.

The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits, and are not insured by the FDIC or any government agency. Total proceeds to the issuer are shown as $4,023,192 after selling commissions of $7.777 per $1,000 note. In a JPMorgan group resolution, holders rank behind creditors of subsidiaries and priority and secured creditors.