Alerian MLP Index ETNs due January 28 2044 424B Filings

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $835,000 of Callable Contingent Interest Notes linked to the least performing of the Russell 2000, S&P 500 and Nasdaq‑100 indices, due November 27, 2028.

The notes pay a contingent interest rate of 6.25% per annum, or $5.2083 per $1,000 monthly, but only for review dates when each index closes at or above 70% of its initial level; otherwise no interest is paid. JPMorgan may redeem the notes early, in whole, on specified interest payment dates starting November 27, 2026 at $1,000 plus any due contingent interest.

If held to maturity and any index finishes below 65% of its initial level, investors lose 1% of principal for each 1% drop beyond the 35% buffer, up to a 65% loss of principal. The estimated value at pricing was $976.40 per $1,000, below the $1,000 issue price, reflecting selling commissions, hedging costs and issuer funding rates.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $50,000 of Auto Callable Accelerated Barrier Notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing on November 26, 2030. The notes are sold in $1,000 denominations at 100% of face value, with selling fees of $50 per note, providing $47,500 in proceeds to the issuer and an estimated fair value of $887.80 per $1,000 at pricing.

The notes may be automatically called starting November 25, 2026 if the Index is at or above its initial level, paying back principal plus preset call premiums ranging from 18.55% to 37.10%. If not called and the Index is above the initial level at maturity, investors receive 5x the Index gain; if the Index finishes between the initial level and a 50% barrier, principal is returned. Below the barrier, losses match the Index decline, up to a complete loss of principal.

The Index embeds a 6.0% per annum daily deduction, uses leveraged exposure (up to 500%) to E-mini S&P 500 futures with a 35% target volatility, and can be significantly uninvested, all of which can drag performance. The notes pay no interest, offer no dividends, are unsecured, subject to JPMorgan credit risk, may be illiquid, and are expected to trade below issue price due to embedded costs and internal funding assumptions.

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 May 25, 2028. 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 closes at or above an Interest Barrier of 65.00% of the Initial Value.

The notes may be automatically called on any Review Date from May 21, 2026 (excluding the first and final Review Dates) if the Index closes at or above the Initial Value, in which case investors receive $1,000 plus the applicable contingent interest and no further payments. If the notes are not called and the Final Value is at least 60.00% of the Initial Value (the Trigger Value), principal is repaid in full plus the final contingent interest, if due. If the Final Value is below the Trigger Value, repayment is $1,000 plus $1,000 times the Index return, so principal losses greater than 40% and up to a total loss are possible.

The Index targets 35% implied volatility through leveraged or reduced exposure (0% to 500%) to E-mini S&P 500 futures and is subject to a 6.0% per annum daily deduction, which drags performance relative to a similar index without this fee. The preliminary estimated value is approximately $948.00 per $1,000 note and will not be less than $900.00 per $1,000 at pricing, reflecting selling commissions, hedging costs and the issuer’s internal funding rate.

JPMorgan Chase Financial Company LLC is offering $250,000 of unsecured, auto-callable structured notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination and matures on November 26, 2030, with the earliest automatic call possible on November 30, 2026 if the Index closes at or above 90% of its initial level.

If called, investors receive $1,000 plus a fixed call premium that steps up from 11.25% on the first Review Date to 56.25% on the final Review Date. If the notes are not called, principal is protected only within a 15% buffer; a larger Index decline can reduce repayment by up to 85%. The Index embeds a 6.0% per annum daily deduction and a notional financing cost, which weighs on performance. The price to public is $1,000 per note, including $41.50 in fees and commissions, while the estimated value is $910.20.

JPMorgan Chase Financial Company LLC is offering $1,560,000 in auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, fully guaranteed by JPMorgan Chase & Co. The notes pay a 13.25% per annum contingent coupon (3.3125% quarterly) whenever the Index is at or above 60% of its initial level, and may be automatically called starting November 23, 2026 if the Index is at or above its initial value.

If the notes are not called and the final Index level is below 50% of the initial value, principal repayment is reduced one-for-one with the Index loss, up to a total loss. The Index embeds a 6.0% per annum daily deduction and a notional financing cost, which drag on performance and can cause underperformance versus the QQQ Fund. The notes are unsecured, subject to issuer and guarantor credit risk, illiquid, and launched at $1,000 per note with an estimated value of $940.20.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable buffered return enhanced notes linked to the Class A common stock of Meta Platforms, Inc. The notes have a minimum denomination of $10,000 and increments of $1,000.

The Stock Strike Price is $613.05, the Meta closing price on the Strike Date. On the December 7, 2026 Review Date, if Meta’s closing price is at or above the strike, the notes are automatically called and pay $1,000 plus a call premium of at least 21.79% per note on the Call Settlement Date. If not called and Meta finishes above the strike on the November 24, 2027 Valuation Date, investors receive uncapped upside equal to the stock return.

If the Final Stock Price is at or up to 20.00% below the strike, investors receive principal back; below that level, losses increase at a 1.25x downside leverage, so principal can be partly or fully lost. The notes pay no interest or dividends and are subject to the credit risk of both issuers. The estimated value would be about $977.10 per $1,000 note if priced on the described date and will not be less than $960.00 per $1,000 note when finalized.

JPMorgan Chase Financial Company LLC is offering Callable Range Accrual Notes linked to the 10-Year CMT Rate, with a total principal amount of $1,120,000, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay monthly interest at a variable rate capped at 6.60% per annum and floored at 0.00%, based on how many days in each period the 10-Year CMT Rate is at or below 4.70%. If the condition is never met in an interest period, no interest is paid for that period.

The notes mature on November 25, 2030, but JPMorgan may redeem them in whole at par plus accrued interest on the 25th of each month starting November 25, 2026. The price to the public is $1,000 per note, including selling commissions of $13.036 per note, while the initial estimated value is $975.90, reflecting embedded costs and hedging. The notes are unsecured obligations, not bank deposits, not FDIC-insured, and their value and interest payments depend on interest rate movements, the issuer’s and guarantor’s credit, and limited secondary market liquidity.

JPMorgan Chase Financial Company LLC is offering $962,000 of Auto Callable Capped Accelerated Barrier Notes linked to the lesser performance of the Consumer Discretionary Select Sector SPDR Fund (XLY) and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are issued in $1,000 denominations and are scheduled to mature on November 27, 2028.

The notes may be automatically called on December 4, 2026 if each underlying is at or above its initial level, paying $1,150 per $1,000 note (a 15% Call Premium). If not called and both underlyings finish above their initial values at maturity, holders receive $1,000 plus 1.25× the return of the lesser performing underlying, capped at a 30.00% maximum return (maximum payment $1,300 per $1,000 note). If at least one underlying is at or below its initial value but both remain at or above 70.00% of initial, principal is returned.

If either underlying finishes below 70.00% of its initial value, investors lose 1% of principal for each 1% decline in the lesser performer and could lose their entire investment. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Chase Financial and JPMorgan Chase & Co., are not bank deposits or FDIC insured, and have an estimated value of $949.80 per $1,000 at pricing, below the issue price due to selling commissions, structuring and hedging costs.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering callable contingent interest notes linked to the Russell 2000 Index, the Invesco S&P 500 Equal Weight ETF and the VanEck Gold Miners ETF, maturing on December 6, 2028. The notes pay a monthly Contingent Interest Payment of at least $12.2917 per $1,000 (a rate of at least 14.75% per annum) for any Review Date on which the closing value of each underlying is at or above 70% of its Initial Value.

The issuer can redeem the notes early, in whole, on specified Interest Payment Dates starting June 4, 2026, paying $1,000 per note plus any applicable Contingent Interest Payment. If held to maturity and any underlying finishes below 60% of its Initial Value, the repayment amount is reduced one-for-one with the decline of the least performing underlying, and holders can lose more than 40% or even all principal.

The price to public is $1,000 per note, with selling commissions not exceeding $7.00 per $1,000. If priced on the example date, the estimated value would be approximately $957.10 per $1,000 note and will not be less than $900.00 per $1,000 when finalized. The notes are unsecured, unsubordinated obligations, will not be listed on any exchange, and do not pay fixed interest or dividends.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering market-linked, auto-callable securities due November 29, 2029, tied to the lowest performer of the S&P 500, Russell 2000 and Nasdaq-100 indexes. Each security has a $1,000 principal amount, with a price to the public of $1,000, selling fees of $25.75 and proceeds to the issuer of $974.25 per security.

The notes may be automatically called on quarterly dates if the lowest-performing index is at or above its starting level, paying back principal plus a call premium starting at at least 11.95% and rising to at least 47.80% if called on the final calculation day. If never called, investors receive $1,000 at maturity only if the lowest-performing index is at or above 75% of its starting level; below that threshold, repayment is reduced in line with the index loss and can fall to zero.

The indicative estimated value is approximately $954.40 per security and will not be less than $920.00 when finalized, reflecting structuring, distribution and hedging costs. The securities are unsecured obligations, are not bank deposits and are not insured by the FDIC or any other governmental agency.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Auto Callable Buffered Return Enhanced Notes linked to the KraneShares CSI China Internet ETF (KWEB) maturing on December 9, 2027.

The notes can be automatically called on December 10, 2026 if KWEB’s closing price is at or above the Call Value, returning $1,000 plus a Call Premium Amount of at least $155 per $1,000. If not called and KWEB finishes above its initial level at maturity, investors receive an uncapped return of 1.50 times the fund’s gain. If KWEB is flat or down by up to the 15% buffer, investors receive their principal back.

If KWEB falls by more than 15% and the notes are not called, investors lose 1% of principal for each 1% decline beyond the buffer, for a potential loss of up to 85% of principal. The notes pay no interest, pass through no dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and are not listed on any exchange. If priced today, the estimated value would be about $976 per $1,000 note, and when set will not be less than $950 per $1,000.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the American depositary shares of Taiwan Semiconductor Manufacturing Company Limited (TSM), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent coupon of 15.00% per annum (3.75% per quarter) only if, on a Review Date, the TSM ADS closing price is at or above an Interest Barrier set at most at 69.35% of the Initial Value. Missed coupons can be paid later if the barrier is met on a future Review Date.

The notes may be automatically called on any Review Date other than the first and final if TSM’s closing price is at or above the Initial Value, returning $1,000 principal per note plus the applicable coupon and any unpaid coupons, with no further payments. If the notes are not called and the Final Value is below the Trigger Value (the same level as the Interest Barrier), investors lose 1% of principal for every 1% decline from the Initial Value and can lose their entire investment. The product is unsecured, not FDIC insured, and exposes investors to both TSM market risk and the credit risk of JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is offering structured “Review Notes” linked to the least performing of the S&P 500® Index, the Nasdaq-100 Index® and the Energy Select Sector SPDR® Fund, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes can be automatically called on scheduled Review Dates starting on December 8, 2026 if the closing value of each underlying is at or above its Call Value, paying back $1,000 plus a Call Premium Amount that steps up from at least 11.75% to at least 58.75% of principal.

If the notes are not called and, on the final Review Date, each underlying finishes at or above 70% of its Initial Value, investors receive only their $1,000 principal per note. If any underlying ends below its 70% Barrier Amount, repayment is reduced dollar-for-dollar with the loss on the worst performer, and all principal can be lost. The notes pay no interest or dividends, are issued in $1,000 minimum denominations, are unsecured and unsubordinated, and are not listed on an exchange. The estimated value is approximately $925.50 per $1,000 note, and will not be less than $900.00 when finalized, reflecting embedded fees, hedging costs and issuer funding assumptions.

JPMorgan Chase Financial Company LLC plans to issue auto-callable Review Notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have $1,000 minimum denominations, are expected to price on or about December 15, 2025 and mature on December 19, 2030, with potential automatic call starting December 16, 2026 if the Index is at or above the applicable Call Value.

On a call date, investors receive $1,000 plus a Call Premium Amount based on a Call Premium Rate of at least 13.95%. If never called and the Final Value is below the 60% Barrier Amount, repayment at maturity is $1,000 plus $1,000 times the Index Return, exposing investors to losses greater than 40% and potentially all principal. The Index embeds a 6.0% per annum daily deduction and can use leverage up to 500% in E-mini S&P 500 futures. The preliminary estimated value is approximately $889.70 per $1,000 note and will not be less than $870.00 per $1,000 at pricing.

JPMorgan Chase Financial Company LLC is offering structured “Review Notes” linked to the Russell 2000 Index, the Nasdaq-100 Technology Sector Index and the Utilities Select Sector SPDR Fund, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have $1,000 minimum denominations and may be automatically called as early as December 7, 2026 if the closing value of each underlying is at or above its Call Value, returning $1,000 plus a Call Premium Amount that starts at least 11.25% and steps up to at least 56.25% by the final review date.

If the notes are not called and, on the final review date, each underlying is at or above 70% of its initial value, investors receive full principal back at maturity on December 6, 2030. If any underlying finishes below 70%, repayment is reduced 1-for-1 with the worst performer, so investors can lose more than 30% and up to all of their principal. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and had an indicative estimated value of about $919.30 per $1,000 principal amount, not less than $900.00.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering structured "Review Notes" linked to the lesser performer of the Dow Jones Industrial Average® and the Nasdaq-100 Index®, maturing on December 17, 2029. The notes are issued in $1,000 minimum denominations and may be automatically called as early as December 15, 2026 if both indices are at or above their Call Value, paying back principal plus a call premium of at least 12% on the first Review Date, rising to at least 48% on the final Review Date.

If the notes are not called and, on the final Review Date, the lesser performing index is at or above 70% of its initial level, investors receive only their principal back. If the lesser performing index finishes below this 70% barrier, repayment is reduced 1% for every 1% decline in that index, with the possibility of a total loss of principal. The preliminary estimated value is about $960 per $1,000 note and will not be less than $940 per $1,000 when finalized, reflecting structuring and hedging costs, and the notes pay no interest or dividends and are unsecured obligations subject to JPMorgan credit risk.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering structured “Review Notes” linked to the MerQube US Large-Cap Vol Advantage Index, maturing on December 19, 2030. The notes are issued in $1,000 minimum denominations and can be automatically called on scheduled Review Dates starting December 21, 2026 if the Index is at or above 100% of its initial level.

If called, investors receive $1,000 plus a Call Premium that starts at 19.20% of principal on the first Review Date and rises in steps to at least 96.00% by the final Review Date. If never called and the Index is at or above 50% of its initial level at final valuation, investors receive only their principal back.

If the final Index level is below 50% of its initial level, the maturity payment is $1,000 + ($1,000 × Index Return), so investors lose 1% of principal for each 1% Index decline and can lose their entire investment. The Index is subject to a 6.0% per annum daily deduction, which drags on performance. The preliminary estimated value is about $885.40 per $1,000 note and will not be less than $870.00 when finalized, reflecting fees, hedging costs and issuer funding assumptions. The notes pay no interest or dividends and carry 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 common stock of Salesforce, Inc. (CRM), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are scheduled to mature on December 9, 2026.

Holders can receive quarterly contingent interest of at least $39.00 per $1,000 note if, on a Review Date, Salesforce’s share price is at or above the Interest Barrier, set at 65.00% of the Stock Strike Price. If on any non-final Review Date the stock closes at or above the Stock Strike Price, the notes are automatically called, paying back $1,000 plus the applicable interest and any unpaid past interest.

If the notes are not called and the Final Stock Price is below the Trigger Level (also 65.00% of the Stock Strike Price), investors lose 1% of principal for each 1% Salesforce has fallen from the Strike Price and can lose their entire investment. The preliminary estimated value is about $977.30 per $1,000 note and will not be less than $960.00 when finalized. The notes are unsecured, not bank deposits and not FDIC insured.

JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated structured notes linked to the lesser performance of the Dow Jones Industrial Average® and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price on or about December 12, 2025 and mature on December 17, 2029.

At maturity, if both indices finish above their initial levels, investors receive $1,000 plus at least 1.40 times the gain of the lesser performing index. If either index is at or below its initial level but both stay at or above 75% of initial value, principal is returned. If either index finishes below this 75% barrier, repayment is reduced one-for-one with the loss of the lesser performing index, and investors can lose most or all of their principal.

The notes pay no interest or dividends, will not be listed on an exchange and carry the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated value would be about $975.80 per $1,000 note if priced on the reference date and will not be less than $950.00 per $1,000 at pricing, reflecting structuring and hedging costs.

JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated structured notes fully and unconditionally guaranteed by JPMorgan Chase & Co., linked to the lesser performing of the iShares MSCI EAFE ETF (EFA) and the iShares Russell 2000 ETF (IWM), maturing on November 30, 2028. The notes are issued in $1,000 minimum denominations and pay no interest or dividends.

At maturity, if both ETFs rise, investors receive leveraged upside of at least 1.4025x the return of the lesser-performing fund. If the lesser-performing fund is flat or down by up to the 20% buffer, investors receive 50% of its absolute return, capped at a 10% gain. If either ETF falls by more than 20%, principal is reduced 1-for-1 beyond the buffer, for a maximum loss of 80%.

The estimated value would have been about $981.10 per $1,000 note on the trade date, and will not be less than $950.00 when finalized, reflecting selling commissions, hedging costs, and issuer funding assumptions. The notes will not be listed on an exchange, so liquidity and secondary market prices may be limited and below the issue price.

JPMorgan Chase Financial Company LLC is offering Uncapped Accelerated Barrier Notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes provide an uncapped leveraged gain of at least 3.00 times any positive Index return at maturity, but pay no interest and offer no dividends.

If the Index finishes at or above 60.00% of its initial level, investors receive at least their $1,000 principal per note; below that barrier, losses match the Index decline and can reach 100% of principal. The Index includes a 6.0% per annum daily deduction, which reduces performance and can cause declines even when the underlying futures strategy is positive. The notes are unsecured, not FDIC-insured, will not be listed on an exchange, and secondary prices are expected to be below the issue price. The estimated value would be about $870.20 per $1,000 note if priced today and will not be less than $860.00 when finalized.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Medium-Term Notes, Series A, Digital Equity Notes due November 8, 2027, linked to the S&P 500® Index. Each note has a $1,000 principal amount and does not pay interest.

At maturity, if the S&P 500® final level is at least 90.00% of its initial level of 6,538.76, investors are expected to receive a threshold settlement amount of at least $1,170.00 per $1,000 note, capping upside at about 17%. If the index falls more than 10%, principal is exposed on a leveraged basis at a buffer rate of approximately 1.1111, and investors can lose up to their entire investment.

The preliminary estimated value of each note is expected to be between $973.10 and $983.10 per $1,000, reflecting selling commissions, hedging costs and dealer profits. The notes will not be listed, bear no interest, and are subject to the credit risk of both the issuer and guarantor, as well as complex U.S. tax treatment.

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, a leveraged futures-based index with a 6.0% per annum daily deduction.

The notes target a Contingent Interest Rate of at least 10.05% per year, paid quarterly (at least 2.5125% per quarter), but interest is only paid when the Index on a Review Date is at or above 60% of the Initial Value, and some or all coupons may never be received. The notes can be automatically called on certain review dates starting in December 2026 if the Index is at or above its Initial Value, returning principal plus due and unpaid contingent interest.

If the notes are not called and the final Index level is below the 60% Trigger Value, repayment is reduced 1% for each 1% Index loss, and investors can lose more than 40% and up to all principal. The minimum denomination is $1,000 per note$889.80 per $1,000, and will not be less than $870.00, reflecting embedded costs and hedging.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked separately to the Nasdaq-100, Russell 2000 and S&P 500, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes target monthly contingent interest of at least 7.45% per annum (0.62083% per month) whenever each index closes at or above 75% of its Initial Value, called the Interest Barrier.

The notes can be automatically called as early as November 30, 2026 if each index is at or above its Initial Value on a relevant review date. If held to maturity without being called, principal is protected only as long as the least performing index finishes at or above a 65% Trigger Value; below that, investors lose 1% of principal for each 1% index decline and could lose their entire investment. The preliminary estimated value is about $937.10 per $1,000 note and will not be less than $900. The notes are unsecured, pay no dividends and may be illiquid, with secondary prices likely below the original issue price.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the lesser performance of Meta Platforms Class A shares and United Rentals common stock, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a monthly Contingent Interest Payment only when each stock closes at or above 50% of its Initial Value, with missed interest amounts paid later if conditions are met. If, on an eligible Review Date, each stock is at or above its Call Value, currently illustrated as 90% of Initial Value, the notes are automatically called early and pay principal plus the applicable interest.

At maturity, if not called and the lesser performing stock finishes at or above its Trigger Value, illustrated as 50% of Initial Value, investors receive principal plus all due contingent interest; if it finishes below that Trigger Value, repayment is reduced 1% for each 1% decline and losses can reach 100% of principal. Hypothetical illustrations use a Contingent Interest Rate of 14.05% per annum, and the estimated value is currently shown as approximately $970.00 per $1,000 note, not less than $950.00 when finalized, reflecting structuring and hedging costs and the issuer’s internal funding rate.

JPMorgan Chase Financial Company LLC is offering auto-callable Review Notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing on December 19, 2030 and guaranteed by JPMorgan Chase & Co. The notes may be called early, as soon as December 21, 2026, if the Index closes at or above preset call levels, paying fixed call premiums that range from $165 to $825 per $1,000 note (16.5% to 82.5% total return).

The Index uses leveraged exposure of up to 500% to E-mini S&P 500 futures and targets 35% implied volatility, but is reduced by a 6.0% per annum daily deduction, which drags on performance. If the notes are not called and the Index falls below a 60% barrier at final valuation, principal is exposed one-for-one to Index losses and can be fully lost. The estimated value, if priced today, is $886.90 per $1,000 note and will not be less than $870.00 when finalized. The notes pay no interest or dividends and carry the unsecured credit risk of JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is offering Contingent Income Auto-Callable Securities due November 30, 2028, linked to the common stock of Eli Lilly and Company (LLY). These principal-at-risk notes can pay a contingent quarterly coupon of at least 3.45% of the $1,000 principal ($34.50) whenever Eli Lilly’s closing price on a determination date is at or above 70% of the initial stock price, called the downside threshold level. If the price is below this level on a determination date, no coupon is paid for that quarter.

The notes are auto-callable: if Eli Lilly’s price is at or above the initial stock price on any determination date (other than the final one), investors receive early redemption of $1,000 plus the applicable coupon and the investment ends. If the notes are not called and the final stock price is at or above the downside threshold, investors receive $1,000 plus the final coupon. If the final stock price is below the downside threshold, repayment of principal falls in line with Eli Lilly’s share decline on a 1-to-1 basis and can be zero, meaning a total loss of principal.

The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., and will not be listed on any exchange. An indicative estimated value is about $964.70 per $1,000 principal, and the final estimated value on the pricing date will not be less than $940.00 per $1,000. Key risks highlighted include potential loss of all principal, the possibility of receiving few or no coupons, exposure to JPMorgan’s credit risk, limited secondary market liquidity, conflicts of interest in pricing and hedging, and uncertain U.S. federal income tax treatment, particularly for Non-U.S. Holders.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Uncapped Digital Barrier Notes linked to the least performing of the Dow Jones Industrial Average, Nasdaq-100 Index and Russell 2000 Index, maturing on November 29, 2030. The notes provide uncapped, unleveraged exposure to any gain in the worst-performing index at maturity, subject to a contingent digital return of at least 61.00% and a barrier for each index set at 70.00% of its initial level.

If all three indices finish at or above their initial values, investors receive the greater of the contingent digital return or the actual return of the least performing index on a $1,000 principal amount. If any index finishes below its initial value but all are at or above their barriers, principal is returned. If any index closes below its barrier, repayment is reduced one-for-one with the decline of the least performing index, and the entire principal can be lost. The notes pay no interest or dividends, are unsecured, and carry the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. A current example estimated value is approximately $940.00 per $1,000 note, and the final estimated value will not be less than $920.00.

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 may pay a monthly Contingent Interest Payment if the Index is at or above 70.00% of the Initial Value, and will be automatically called quarterly if the Index is at or above the Initial Value, with the earliest call date on May 26, 2026. A hypothetical Contingent Interest Rate is 17.50% per annum, and the estimated value would be about $923.00 per $1,000 note, not less than $900.00 when set.

Principal is at risk: if the notes are not called and the Final Value is below a 50.00% Trigger Value, repayment is reduced 1% for each 1% Index decline, potentially to zero. The underlying Index uses leveraged exposure to E-mini S&P 500 futures and is subject to a 6.0% per annum daily deduction, which creates a drag on performance. Investors do not receive dividends, the notes are unsecured obligations subject to JPMorgan credit risk, may be illiquid, and secondary prices are expected to be below the $1,000 issue price.

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, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes run to December 1, 2027.

At maturity, holders receive leveraged upside of at least 1.1055 times any positive return of the least performing index, and a capped positive return equal to the absolute value of index declines up to a 20.00% buffer. If any index falls by more than 20.00%, principal is reduced 1% for each additional 1% drop, up to an 80.00% loss.

The notes pay no interest, provide no dividends on index components, and are unsecured obligations subject to the credit risk of both the issuer and guarantor. They are not exchange-listed, and secondary market prices are expected to be below the $1,000 issue price, with an estimated initial value of approximately $983.60 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 Tech+ Vol Advantage Index, maturing in December 2030. Each note has a $1,000 minimum denomination and can pay a quarterly Contingent Interest Payment of at least $26.375, equivalent to a rate of at least 10.55% per annum, but only when the Index closes at or above 60% of its initial level on a Review Date.

The notes may be automatically called on certain review dates starting in December 2026 if the Index is at or above its initial level, returning $1,000 plus the applicable interest. If the notes are not called and the Index ends below 50% of its initial level, investors lose principal on a 1:1 basis with the Index decline and can lose their entire investment. The Index embeds a 6.0% per annum daily deduction and a notional financing cost, which drag on performance. The estimated value is approximately $898.90 per $1,000 note and will not be less than $880.00 when finalized.

JPMorgan Chase Financial Company LLC is offering structured notes linked to the lesser performer of the Russell 2000 Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are designed to provide at least 1.27x any positive performance of the weaker index at maturity and a dual-direction payoff that can benefit from up to a 10% decline through a buffered, absolute-return feature.

If either index falls more than 10%, investors lose 1% of principal for each additional 1% drop in the lesser-performing index, with losses up to 90%. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of both issuers and will not be listed on an exchange. An illustrative estimated value is $980.50 per $1,000 note, and the final estimated value 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 structured Review Notes linked to the lesser performing of the Dow Jones Industrial Average® and the Nasdaq-100 Index®, maturing on December 17, 2029. The notes may be automatically called as early as December 15, 2026 if the closing level of each index is at or above its Call Value, paying back $1,000 plus a Call Premium of at least 10%, increasing to at least 40% on the final Review Date.

If not called and the final level of each index is at or above 70% of its initial level (the Barrier Amount), investors receive their principal at maturity. If either index finishes below its Barrier Amount, repayment is reduced one-for-one with the loss on the lesser performing index, and investors can lose more than 30% and up to all of their principal.

The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of both issuers, and are not bank deposits or FDIC insured. The estimated value is about $940 per $1,000 note on today’s terms and will not be less than $920 per $1,000 at pricing, reflecting selling commissions, structuring fees and hedging costs.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Uncapped Accelerated Barrier Notes linked to the lesser performance of the Dow Jones Industrial Average and the S&P 500 Index, maturing on December 17, 2030. The notes target at least 1.26x any positive return of the weaker index at maturity, with a barrier set at 75% of each index’s initial level. If either index finishes below its barrier, repayment is reduced one-for-one with the loss of the lesser-performing index, and principal can be entirely lost. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of both issuers, and will not be listed on an exchange. Minimum denomination is $1,000 per note. The estimated value example given is about $943.10 per $1,000, and will not be less than $920.00 per $1,000, reflecting embedded selling commissions, a possible structuring fee and hedging costs.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked individually to the Nasdaq-100® Technology Sector IndexSM, the Russell 2000® Index and the Utilities Select Sector SPDR® Fund, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a monthly contingent interest rate of at least 9.05% per annum only if on each Review Date the closing value of every underlying is at or above 60% of its Initial Value. The notes may be automatically called starting on November 30, 2026 if, on an applicable Review Date (other than the first through eleventh and final), each underlying is at or above its Initial Value, in which case investors receive $1,000 per note plus the applicable contingent interest and no further payments. If the notes are not called and any underlying finishes below its 60% Trigger Value at maturity on December 1, 2028, investors lose 1% of principal for each 1% decline of the least performing underlying and can lose their entire investment. The notes are unsecured obligations with an estimated value of approximately $963.60 per $1,000 principal amount note if priced on the indicated date, and are subject to market, sector, liquidity, credit and tax risks.

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 a Contingent Interest Rate of at least 10.55% per annum, paid quarterly when the Index closes at or above 60% of its Initial Value. From the fourth Review Date onward, the notes are automatically called if the Index is at or above the Initial Value.

If the notes are not called and the Final Value is at or above 50% of the Initial Value, investors receive principal back plus any final contingent interest; below that 50% Trigger Value, principal loss matches the Index decline, up to a total loss. The underlying Index uses leveraged E-mini S&P 500 futures, targets 35% implied volatility and has a 6.0% per annum daily deduction, which drags on performance. The notes are unsecured obligations, not FDIC insured, have a minimum denomination of $1,000, are not exchange-listed and had an indicative estimated value of about $887.70 per $1,000, not less than $870.00.

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 are expected to price on or about December 2, 2025 and mature on December 5, 2030, with minimum denominations of $1,000.

At maturity, investors get 2.00x (or more, as finally set) of any positive Index return, with no cap. Principal is protected only if the Index’s final level is at or above a 70% barrier; if it falls below, losses match the Index decline and can reach 100% of principal. The notes pay no interest and are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

If priced today, the estimated value would be approximately $974.80 per $1,000 note and will not be less than $900. The notes are not bank deposits, are not FDIC insured, will not be listed on any exchange, and may have limited or no secondary market liquidity.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering callable contingent interest notes linked to the Nasdaq-100, Russell 2000 and S&P 500 indices, maturing on November 30, 2028. The notes have a minimum denomination of $1,000 and may pay a monthly contingent coupon at a rate of at least 8.40% per annum if, on each review date, the closing level of every index is at or above 70.00% of its initial value.

If on any review date any index is below this interest barrier, no interest is paid for that period. The issuer may redeem the notes early on specified interest payment dates, starting on May 29, 2026, at $1,000 plus any applicable contingent interest. At maturity, if the notes are not redeemed and the final level of each index is at or above 65.00% of its initial value, investors receive $1,000 per note plus any final contingent interest. If any index finishes below 65.00%, repayment is reduced in proportion to the decline of the worst-performing index, resulting in loss of more than 35% and up to all principal.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $2,940,000 of Market Linked Securities, part of its Global Medium-Term Notes, Series A. Each security has a $1,000 principal amount and matures on November 25, 2030, with returns linked to the lowest performing of the Russell 2000® Index and the Dow Jones Industrial Average®.

If the lowest-performing index ends above its starting level, investors receive principal plus 127.50% of the index gain. If it ends at or below its starting level but at or above 70% of that level (the threshold), investors receive principal plus the absolute index return. If it finishes below the 70% threshold, repayment is reduced one-for-one with the index loss and investors can lose more than 30%, up to all, of principal.

The price to the public is $1,000 per security, including $38.70 in selling commissions, for issuer proceeds of $961.30 per security. The estimated value at pricing was $943.60, reflecting sales, structuring and hedging costs and an internal funding rate. The securities are not bank deposits and are not FDIC insured.

JPMorgan Chase Financial Company LLC is offering $375,000 of auto-callable structured 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 starting November 23, 2026 if the Index closes at or above a preset Call Value, paying back principal plus a fixed call premium instead of running to the November 25, 2030 maturity.

The Index uses leveraged exposure of up to 500% to E-mini S&P 500 futures and is subject to a 6.0% per annum daily deduction, which creates a persistent drag so the Index will trail a similar index without this fee. If the notes are not called and the Index ends below a barrier level at maturity, investors lose 1% of principal for each 1% Index decline and can lose their entire investment.

The notes pay no interest, provide no dividends, are unsecured obligations of JPMorgan Chase Financial and depend on the credit of both the issuer and JPMorgan Chase & Co. The price to the public is $1,000 per note, including $40 in selling commissions, while the initial estimated value is $900, highlighting upfront costs and potential secondary-market discounts.

JPMorgan Chase Financial Company LLC is offering auto callable buffered equity notes linked to the EURO STOXX 50® Index. These two-year notes may be automatically called on December 4, 2026 if the index is at or above the strike, paying $1,000 plus a call premium of at least 11.19% per note. If not called and the Ending Index Level is at or above the strike, investors receive full upside exposure with a contingent minimum return of at least 22.38%. Principal is protected only down to a 15.00% decline; below that, losses increase at a leveraged rate of 1.17647% for each additional 1% drop. The notes pay no interest or dividends and expose investors to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated value is stated at approximately $979.50 per $1,000, and will not be less than $960.00 when finalized.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $500,000 of structured "Review Notes" linked to the iShares Ethereum Trust ETF (ticker ETHA), due November 24, 2028. The notes may be automatically called as early as November 23, 2026 if the ETF’s closing price is at or above the Call Value, returning $1,000 per note plus a call premium that starts at 35% of principal and can reach 105% on the final Review Date.

If the notes are not called and the ETF’s final price is at or above the 70% barrier (set at $14.987, 70% of the $21.41 Initial Value), investors receive full principal back at maturity. If the final price is below the barrier, repayment is reduced one-for-one with the ETF loss, and investors can lose most or all of their principal. The notes pay no interest and are unsecured obligations exposed to the credit risk of JPMorgan entities. The public issue price is $1,000 per note, including $40 of selling commissions; the estimated value at pricing is $904.10 per $1,000 note, reflecting embedded fees and hedging costs. The ETF and ether exposure introduce high volatility, regulatory and liquidity risks.

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 (IBIT), designed for a minimum investment of $1,000 per note. The notes may be automatically called on December 21, 2026 if the ETF’s closing price is at or above the Call Value, paying $1,000 plus a Call Premium Amount of at least $160 per note, after which no further payments are made.

If not called and the ETF finishes above its initial level on the December 15, 2028 observation date, investors receive $1,000 plus 1.50 times the ETF’s positive return; if it finishes between 60.00% and 100.00% of the Initial Value, they receive principal only. If the Final Value is below the 60.00% barrier, 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 subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and expose investors to the significant volatility and regulatory uncertainties of bitcoin through IBIT. An estimated value example of approximately $903.60 per $1,000 note highlights that issue price includes fees, hedging costs and structuring margins, and secondary market liquidity and pricing may be limited.

JPMorgan Chase Financial Company LLC is issuing $1,150,000 of Review Notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called as early as November 24, 2026 if the Index closes at or above the Call Value, paying $1,000 plus a growing call premium that reaches up to 105% of principal by the final review date.

The notes have a 20.00% downside buffer, but if the Index falls more than this and is not called, investors lose 1% of principal for each 1% decline beyond the buffer, up to an 80.00% loss. The Index embeds a 6.0% per annum daily deduction and a notional financing cost, which drag on performance versus the QQQ-based strategy it tracks. The price to public is $1,000 per note, including $44 in fees and commissions, while the estimated value is $899.40, and the notes carry full issuer and guarantor credit risk.

JPMorgan Chase Financial Company LLC is offering $325,000 of Callable Contingent Interest Notes linked to the Class A common stock of Palantir Technologies Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination and may pay a monthly contingent coupon of $16.8333 (a 20.20% per annum rate) if Palantir’s share price on the applicable Review Date is at or above the Interest Barrier of 50.00% of the Initial Value, which is $77.8725.

The notes can be redeemed early at the issuer’s option on specified Interest Payment Dates starting February 25, 2026, at $1,000 plus any due contingent interest. If not redeemed early and the Final Value on May 20, 2027 is at or above the Trigger Value (also 50.00% of the Initial Value), investors receive $1,000 plus the final contingent interest. If the Final Value is below the Trigger Value, the maturity payment becomes $1,000 plus $1,000 times the stock return, so holders lose 1% of principal for each 1% decline from the Initial Value and can lose more than 50% or even all principal.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the least performing of the VanEck Semiconductor ETF (SMH), Energy Select Sector SPDR Fund (XLE) and SPDR S&P Regional Banking ETF (KRE), maturing on December 1, 2028.

The notes pay a monthly contingent interest rate of at least 15.25% per annum (at least $12.7083 per $1,000) only if, on each review date, all three ETFs close at or above 60% of their initial values. The notes may be automatically called as early as May 28, 2026 if each ETF is at or above its initial value, in which case investors receive $1,000 plus the applicable interest and no further payments.

If the notes are not called and any ETF finishes below 60% of its initial value at maturity, repayment of principal is reduced one-for-one with the loss on the worst ETF, and investors can lose more than 40% and up to all of their principal. The preliminary estimated value is approximately $955.40 per $1,000 note, and will not be less than $920.00 when finalized, reflecting embedded selling, structuring and hedging costs.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $1,286,000 of Market Linked Securities linked to Broadcom Inc. common stock, maturing on November 26, 2027.

Each $1,000 security pays a 13.30% per annum contingent coupon, but only when Broadcom’s stock closes at or above a coupon threshold of $208.092 (60% of the $346.82 starting price) on the monthly calculation day. From May 2026 to October 2027, if the stock closes at or above the starting price on a calculation day, the notes are automatically called and repay principal plus that month’s coupon.

If the notes are not called, principal is protected at maturity only if the final stock price is at or above the $173.41 downside threshold (50% of the starting price). Below that level, investors lose principal in line with the stock’s decline, down to a total loss. The price to public is $1,000 per note, with an estimated value of $950.30 at pricing, reflecting selling commissions and hedging costs, and the notes are expressly described as principal-at-risk, illiquid and not FDIC insured.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Uncapped Digital Barrier Notes linked to the lesser performance of the Nasdaq-100 Futures Excess Return Index and the S&P 500 Futures Excess Return Index, maturing in December 2030. The notes pay no interest and are issued in $1,000 denominations.

At maturity, if the final level of each index is at or above its initial level, investors receive $1,000 plus the greater of a Contingent Digital Return of at least 74.25% or the actual return of the lesser-performing index. If at least one index is below its initial level but both stay at or above 70% of their initial values, investors receive only their $1,000 principal. If either index finishes below 70% of its initial level, repayment is reduced 1% for each 1% decline of the lesser-performing index, which can result in a significant or total loss of principal.

The preliminary estimated value is approximately $965.30 per $1,000 note and will not be less than $930.00 per $1,000 when finalized. The notes are unsecured, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., will not be listed on an exchange, and secondary market prices are expected to be lower than the issue price.

JPMorgan Chase Financial Company LLC is offering $10,000,000 of Buffered Digital Notes linked to the worst performer among the Consumer Staples Select Sector SPDR Fund, the Russell 2000 Index and the S&P 500 Futures Excess Return Index, maturing March 9, 2027. Each $1,000 note pays a fixed 10.80% gain at maturity if the least-performing underlying is at or above its initial level, or down as much as 25% below it.

If any underlying falls by more than 25%, principal is lost at an accelerated rate of 1.33333% for every 1% drop beyond the buffer, up to a total loss. The notes pay no interest or dividends, are unsecured obligations guaranteed by JPMorgan Chase & Co., will not be listed on an exchange, and had an estimated value at pricing of $990.40 per $1,000 note versus a $1,000 issue price.