Every 424B that Alerian MLP Index ETNs due January 28 2044 (AMJB) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow AMJB and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full AMJB filings page.
JPMorgan Chase Financial Company LLC plans to offer Uncapped Buffered Equity Notes linked to the lesser performing of the Dow Jones Industrial Average and the S&P 500 Index, due December 1, 2027, and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price on or about November 25, 2025 and settle on or about December 1, 2025, in minimum denominations of $1,000.
The structure provides at least 1.00x upside participation with a 20.00% downside buffer, determined by the lesser performing index. If either index falls by more than 20%, repayment is reduced 1% for each additional 1% decline, with potential loss of up to 80% of principal at maturity. The notes do not pay interest and provide no dividends.
If priced today, the estimated value would be approximately $985.90 per $1,000 note; upon pricing, it will not be less than $950.00 per $1,000 note. Payments are subject to the credit risk of JPMorgan Financial as issuer and JPMorgan Chase & Co. as guarantor.
JPMorgan Chase Financial Company LLC filed a preliminary 424(b)(2) pricing supplement for auto callable contingent interest notes linked to the Nasdaq‑100, Russell 2000, and EURO STOXX 50, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a monthly contingent interest at a rate of at least 9.50% per annum (≥0.79167% per month) when each index closes at or above its Interest Barrier of 70% of its initial level. They are auto‑callable if, on specified review dates beginning November 25, 2026, each index is at or above its initial level; upon call, holders receive $1,000 plus the applicable interest. If held to maturity on November 29, 2030 and any index finishes below its Trigger Value of 60%, repayment is reduced 1:1 with index decline, risking substantial loss of principal.
Minimum denominations are $1,000. Selling commissions will not exceed $7.50 per $1,000 note. If priced today, the issuer estimates a value of approximately $960 per $1,000 note, and it will not be less than $940 when set. Payments are subject to the credit risk of both the issuer and guarantor.
JPMorgan Chase Financial Company LLC filed a preliminary 424(b)(2) pricing supplement for Auto Callable Contingent Interest Notes linked to the Nasdaq‑100, Russell 2000 and EURO STOXX 50, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a contingent interest of at least 7.75% per annum (at least $6.4583 per $1,000 monthly) for any Review Date on which each index ≥ 70.00% of its Initial Value. They may be auto‑called if, on designated Review Dates (excluding the first through eleventh and final), each index ≥ its Initial Value; the earliest potential call is November 25, 2026. If not called, the notes mature on November 29, 2030.
At maturity, if each index is ≥ 60.00% of its Initial Value, holders receive $1,000 plus any final contingent interest; otherwise, payment equals $1,000 + ($1,000 × Least Performing Index Return), risking substantial principal loss. Minimum denomination is $1,000. Selling commissions will not exceed $35 per $1,000. The initial estimated value would be approximately $930 per $1,000 note and will not be less than $900 when set. The notes are unsecured, subject to issuer and guarantor credit risk, and will not be listed.
JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement for Auto Callable Contingent Interest Notes linked to the least performing of the Nasdaq‑100, Russell 2000, and S&P 500, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on November 17, 2028 and pay a monthly contingent interest of at least 0.6875% (at least 8.25% per annum) for any Review Date when each index closes at or above 80.00% of its Initial Value.
The notes are auto‑callable on any Review Date from November 16, 2026 onward if each index is at or above its Initial Value, returning $1,000 plus the applicable contingent interest for that period. If not called, repayment at maturity depends on the least performing index: investors receive $1,000 plus the final period’s contingent interest only if each index is at or above its 80.00% Buffer Threshold. Otherwise, principal is reduced 1‑for‑1 below the 20.00% buffer, with up to 80.00% loss of principal.
Minimum denomination is $1,000. If priced today, the estimated value would be approximately $966.30 per $1,000 note; when set, it will not be less than $900.00 per $1,000. Payments and principal are subject to the credit risks of the issuer and guarantor.
JPMorgan Chase Financial Company LLC plans to offer Callable Contingent Interest Notes linked to the Nasdaq-100, Russell 2000, and S&P 500, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent coupon of at least 9.05% per annum (0.75417% monthly) if, on a Review Date, each index closes at or above 70% of its Initial Value.
The notes are callable at the issuer’s option on any Interest Payment Date (other than the first through eleventh and final), with the earliest possible call on November 19, 2026. Maturity is August 19, 2030. Minimum denominations are $1,000. The price to public is $1,000 per note; selling commissions will not exceed $10 per $1,000. If priced today, the estimated value would be approximately $958.40 per $1,000, and when set, will not be less than $900. The notes are expected to price on or about November 14, 2025 and settle on or about November 19, 2025.
Key risks include potential loss of principal if any index finishes below its 70% Trigger at final valuation, the possibility of no interest, issuer call risk, lack of listing, and the credit risk of both the issuer and guarantor.
JPMorgan Chase Financial Company LLC launched a preliminary 424(b)(2) pricing supplement for Uncapped Accelerated Barrier Notes linked to the least performing of the Dow Jones Industrial Average, Nasdaq-100, and Russell 2000, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes target an Upside Leverage Factor of at least 2.10, with a Barrier Amount of 70.00% of each Index’s Initial Value. If all three Indices finish above their Initial Values at maturity, holders earn 2.10x the least performer’s gain. If any Index closes below its Barrier Amount on the Observation Date, repayment is reduced one-for-one with the least performer’s loss, up to full principal loss.
Key terms include minimum denominations of $1,000, expected pricing on or about November 13, 2025, settlement on or about November 18, 2025, Observation Date November 13, 2030, and Maturity Date November 18, 2030. If priced today, the estimated value would be approximately $982.20 per $1,000 note and will not be less than $900.00 per $1,000 when set. Selling commissions will not exceed $7.00 per $1,000 note. The notes pay no interest or dividends and are subject to the credit risk of both the issuer and guarantor.
JPMorgan Chase Financial Company LLC filed a preliminary 424(b)(2) pricing supplement for Auto Callable Buffered Return Enhanced Notes linked to the Nasdaq-100 Index, due November 24, 2027, and fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes may be automatically called on November 25, 2026 if the Index closes at or above the Call Value (100% of the Initial Value), paying $1,000 plus a Call Premium of at least $120 per $1,000. If not called, at maturity holders receive 1.25x any Index gain; if the Index is flat or down by up to the 15% buffer, principal is returned. If the Index falls more than 15%, investors lose 1% of principal per 1% decline beyond the buffer, up to an 85% loss.
Denominations are $1,000. Selling commissions will not exceed $4.50 per $1,000. If priced today, the estimated value would be about $990.50 per $1,000 and, when set, will not be less than $900.00 per $1,000. The notes pay no interest or dividends, are unsecured, and will not be listed. Settlement is expected on or about November 24, 2025.
JPMorgan Chase Financial Company LLC filed a preliminary 424(b)(2) pricing supplement for Auto Callable Contingent Interest Notes linked to the common stock of United Rentals, Inc. (URI), due November 18, 2027, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a Contingent Interest Rate of at least 12.00% per annum (at least 3.00% per quarter, or $30.00 per $1,000) for each Review Date on which URI closes at or above the Interest Barrier of 60.00% of the Initial Value. They are automatically called if, on any Review Date other than the first and final, URI closes at or above the Initial Value; the earliest possible call date is May 14, 2026.
If not called, holders receive at maturity: (i) $1,000 plus the final Contingent Interest if URI’s Final Value is at or above the Trigger Value (60.00% of Initial), or (ii) $1,000 + ($1,000 × Stock Return) if below the Trigger, which can mean losing more than 40% and up to all principal. Minimum denomination is $1,000. Estimated value if priced today is about $960 per $1,000, and will not be less than $940 per $1,000 when set. Selling commissions are up to $17.50 and a structuring fee up to $1.00 per $1,000. The notes are unsecured, subject to issuer and guarantor credit risk, and will not be listed.
JPMorgan Chase Financial Company LLC filed a preliminary 424(b)(2) pricing supplement for Auto Callable Accelerated Barrier Notes linked to the least performing of the Dow Jones Industrial Average, Nasdaq‑100, and Russell 2000, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called on November 18, 2026 if each index is at or above its Call Value (100% of Initial Value), paying $1,000 plus a Call Premium Amount of at least $170 per $1,000.
If not called, maturity is November 17, 2027. At maturity, investors receive 1.50x the appreciation of the least performing index if all are above their Initial Values; par is returned if all finals are at or above a 70% barrier; otherwise, losses match the least performer’s decline, up to total loss. Minimum denomination is $1,000. If priced today, the estimated value would be $955.80 per $1,000, and will not be less than $900.00 per $1,000 when set. Selling commissions will not exceed $27.00 per $1,000. The notes are unsecured, do not pay interest or dividends, and are subject to the credit risk of the issuer and guarantor.
JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement for Digital Buffered Notes linked to the S&P 500 Index. The notes target a fixed return via a Contingent Digital Return of at least 7.13% at maturity if the Index finishes at or above its start level, or down by up to 15.00%. Beyond the 15.00% buffer, principal is reduced at a Downside Leverage Factor of 1.17647 per 1% further decline.
The notes are unsecured obligations of JPMorgan Chase Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co. Key dates: Pricing on or about November 14, 2025; settlement on or about November 19, 2025; valuation on November 27, 2026; maturity on December 2, 2026. Minimum denomination is $10,000. The price to public is $1,000 per note; selling commissions will not exceed $10 per $1,000. If priced today, the estimated value would be approximately $986.70 per $1,000, and will not be less than $970.00 when set. The notes will not be listed; secondary liquidity may be limited.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., filed a preliminary 424(b)(2) for Digital Buffered Notes linked to the S&P 500 Index. The notes offer a Contingent Digital Return of at least 7.43%, paying $1,074.30 per $1,000 at maturity if the index is flat, up, or down by up to the 15.00% buffer.
If the S&P 500 falls more than 15% from the strike, principal is reduced by 1.17647% for every 1% beyond the buffer. Key dates include the strike on November 7, 2025, averaging on November 16–20, 2026, and maturity on November 25, 2026. If priced today, the estimated value is about $986.30 per $1,000, and will not be less than $970.00 per $1,000 when finalized. The notes are unsecured obligations of the issuer and are not bank deposits or FDIC insured.
JPMorgan Chase Financial Company LLC plans to issue Auto Callable Yield Notes linked to the lesser performing of the Russell 2000 Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay at least 8.15% per annum, payable monthly at a rate of at least 0.67917%, and are scheduled to mature on March 1, 2027.
The notes will be automatically called if, on any Review Date before the final one, the closing level of each index is greater than or equal to its Initial Value; the earliest possible call date is May 26, 2026. If not called, and the Final Value of each index is greater than or equal to 70.00% of its Initial Value (the Trigger Value), investors receive $1,000 plus the applicable final interest. If the Final Value of either index is below its Trigger Value, repayment is reduced by the Lesser Performing Index Return, and investors can lose more than 30.00% of principal, up to all of it.
Minimum denominations are $1,000. The price to public is $1,000 per note. If priced today, the estimated value would be approximately $983.40 per $1,000 note; the final estimated value will be provided and will not be less than $900. The notes are unsecured and unsubordinated, will not be listed, and carry the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC filed a preliminary 424(b)(2) pricing supplement for Callable Contingent Interest Notes linked to the SPDR S&P Regional Banking ETF (KRE), fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a contingent coupon of at least 9.40% per annum (at least 2.35% per quarter, or $23.50 per $1,000) for any Review Date when KRE closes at or above the Interest Barrier of 60.00% of the Initial Value. Missed coupons can be paid later if a future Review Date meets the barrier. The issuer may redeem early on any Interest Payment Date other than the first and final, with the earliest call on May 14, 2026. Maturity is November 16, 2028.
If held to maturity and KRE’s Final Value is below the Trigger Value (60.00% of Initial Value), repayment is reduced one-for-one with the Fund’s decline, risking substantial principal loss. Estimated value if priced today is about $975.30 per $1,000, and will not be less than $940.00 at pricing. Minimum denomination is $1,000; selling commissions are capped at $5.00 per $1,000.
JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement for 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 monthly Contingent Interest of at least 9.60% per annum (≥0.80% per month) when the Index closes at or above 70.00% of the Initial Value on an Interest Review Date, with unpaid coupons accruing for potential later payment. The notes auto-call quarterly if the Index is at or above the Initial Value, with the earliest call on November 13, 2026. If not called, they mature on November 18, 2030.
Principal is protected only by a 15.00% buffer: if the Final Value is below the 85.00% Buffer Threshold, investors lose 1% of principal for each 1% decline beyond the buffer, up to 85.00% loss. The Index includes a 6.0% per annum daily deduction and a notional financing cost, which reduce performance. Minimum denomination is $1,000. Selling commissions will not exceed $41.50 per $1,000. If priced today, the estimated value would be about $913.80 per $1,000, and will not be less than $900.00 per $1,000 when set.
JPMorgan Chase & Co. is offering callable zero‑coupon notes due November 12, 2035, with an aggregate $500,000 principal amount at maturity. The notes are issued at $598.484 per $1,000 principal, pay no periodic interest, and accrete at a 5.20% yield to maturity (compounded semiannually, 30/360). At maturity, holders receive 100% of the outstanding principal if the notes have not been called.
The issuer may redeem the notes in whole on the 12th of May and November from November 12, 2027 through May 12, 2035 at the applicable Accreted Principal Amount (per Annex A). Totals indicate a Price to Public of $299,242, Fees of $1,496 (0.50%), and Proceeds to Issuer of $297,746. The notes are unsecured obligations; in a resolution scenario under U.S. law, holders rank behind subsidiary creditors and may absorb losses.
JPMorgan Chase Financial Company LLC filed a 424(b)(2) preliminary pricing supplement for Capped Dual Directional Buffered Equity Notes linked to the lesser performing of the Russell 2000 and S&P 500, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes target unleveraged upside participation up to a Maximum Upside Return of at least 26.25% and provide downside participation (in absolute terms) for declines up to the 10.00% Buffer Amount. Beyond the buffer, principal is at risk based on the lesser-performing index at maturity, and investors forgo interest and dividends.
The notes are expected to price on or about November 26, 2025 and settle on or about December 2, 2025, in minimum denominations of $1,000. If priced today, the estimated value would be approximately $975.20 per $1,000, and when set, will not be less than $940.00 per $1,000. Selling commissions will not exceed $10.00 per $1,000. Payment scenarios include capped upside if both indices rise, capped absolute-return gains up to the buffer if one or both are flat to down within 10%, and losses beyond the buffer, with maximum principal loss of 90% at maturity, all subject to the credit risk of the issuer and guarantor.
JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement for auto-callable Review Notes linked to the least performing of the Dow Jones Industrial Average, the Russell 2000 Index and the Nasdaq-100 Index, due November 18, 2030, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes may be called on scheduled Review Dates starting November 17, 2026 if each index closes at or above its Call Value (100% of its Initial Value). If called, investors receive $1,000 plus a Call Premium Amount that starts at at least 9.300% × $1,000 and steps up over time to at least 46.500% × $1,000 by the final Review Date. If not called, and on the final Review Date each index is at or above its 70% Barrier, investors receive principal back; otherwise, repayment is reduced one-for-one with the decline of the least performing index, which can result in loss of most or all principal.
The notes pay no interest or dividends and are unsecured, subject to the credit risk of the issuer and guarantor. The price to public is $1,000 per note; selling commissions will not exceed $40.75 per $1,000. The estimated value, if priced today, is approximately $937.30 per $1,000 and will not be less than $900. Minimum denomination is $1,000.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering market-linked, principal-at-risk securities tied to the lowest performing of XLK, XLE, XLV, and XLP, due December 3, 2026.
The notes pay no interest and have a $1,000 denomination, with an upside participation rate of at least 100.85% if the lowest-performing fund rises. A 17.50% buffer provides a positive “contingent absolute return” for declines up to that level; below the buffer, repayment falls 1‑to‑1 with losses beyond the buffer, for a maximum loss of 82.50% of principal.
Per-security economics: Price to public $1,000, fees $23.25, and proceeds to issuer $976.75. The estimated value would be approximately $960.80 per security if priced today and will not be less than $930.00 per security when set. The securities are unsecured obligations, subject to the credit risk of the issuer and guarantor, have no exchange listing, and are designed to be held to maturity.
JPMorgan Chase Financial Company LLC is offering Callable Contingent Interest Notes due November 26, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a quarterly contingent interest only if the closing level of each of the Dow Jones Industrial Average, Russell 2000 Index and S&P 500 Index is at least 75.00% of its Initial Value on the applicable review date.
The Contingent Interest Rate will be at least 9.25% per annum (2.3125% per quarter). The issuer may redeem the notes early, in whole, on any interest payment date starting November 27, 2026. If held to maturity and each index is at or above its Trigger Value (75.00% of Initial Value), investors receive $1,000 plus the final contingent interest. If any index is below its Trigger Value, the payoff is $1,000 plus $1,000 times the Least Performing Index Return, meaning investors can lose more than 25%—up to all—of principal.
Denominations are $1,000. The preliminary estimated value is $960.80 per $1,000 (not less than $940.00 when set). Sales are to fee-based advisory accounts; JPMS may pay a $8.00 structuring fee per $1,000 note.
JPMorgan Chase Financial Company LLC launched a preliminary 424(b)(2) pricing supplement for Capped Buffered Return Enhanced Notes linked to the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes offer 2.00x any positive Index return at maturity, subject to a maximum return of at least 19.20%, and include a 15.00% downside buffer. Denominations are $1,000, with selling commissions that will not exceed $6.50 per $1,000 principal amount note.
The notes are unsecured, do not pay interest or dividends, and expose holders to the credit risk of both the issuer and guarantor. Key dates include an expected pricing on or about November 14, 2025, settlement on or about November 19, 2025, an Observation Date of November 9, 2027, and maturity on November 15, 2027 (subject to postponement). If priced today, the estimated value would be approximately $987.80 per $1,000, and upon final terms will not be less than $950.00 per $1,000. CUSIP: 48136LGZ6.
JPMorgan Chase Financial Company LLC filed a preliminary 424(b)(2) pricing supplement for Callable Contingent Interest Notes linked to the lesser performing of the Russell 2000 and S&P 500, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a monthly Contingent Interest Payment of at least $8.3333 per $1,000 (at least 10.00% per annum) for each Review Date when both indices close at or above 85.00% of their Initial Value. They feature a 15.00% buffer, but investors risk losing up to 85.00% of principal if, at maturity, either index finishes below its Buffer Threshold.
The notes are callable at the issuer’s option on specified Interest Payment Dates beginning August 20, 2026, and mature on November 22, 2028, with minimum denominations of $1,000. If priced today, the estimated value would be approximately $977.10 per $1,000, and selling commissions will not exceed $5 per $1,000. These unsecured, unsubordinated obligations are subject to the credit risk of the issuer and guarantor.
JPMorgan Chase Financial Company LLC launched preliminary terms for Callable Contingent Interest Notes linked to the least performing of the Nasdaq‑100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes offer a Contingent Interest Rate of at least 8.40% per annum (paid monthly at least 0.70%) when, on a Review Date, each index closes at or above 70.00% of its Initial Value.
The issuer may redeem the notes early, in whole, on eligible Interest Payment Dates, with the earliest possible call on November 17, 2026. If not called, the notes mature on October 17, 2030. At maturity, if each index is at or above its 70.00% Trigger Value, investors receive $1,000 plus the final Contingent Interest; otherwise, repayment is reduced by the decline of the least performing index, and principal loss could be significant.
The notes are issued in $1,000 minimum denominations at a price to public of $1,000 per note. Selling commissions will not exceed $37.50 per $1,000 note. If priced today, the estimated value would be approximately $937.10 per $1,000, and will not be less than $900.00 per $1,000 when set. Payments are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The notes are not bank deposits and are not FDIC-insured.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., outlines preliminary terms for Market Linked Securities tied to the lowest performing of XLK, XLE, XLV and XLP, maturing on December 3, 2026. Each $1,000 security is designed with leveraged upside, a contingent absolute return zone, and a fixed 15% downside buffer; principal is at risk beyond that buffer.
Payoff mechanics: if the lowest performing fund finishes above its start, investors receive $1,000 plus the fund return multiplied by an upside participation rate of at least 156.20%. If it finishes at or below its start but at or above 85% of start, the payoff adds the absolute value of that return. Below the 85% threshold, losses resume 1‑to‑1 beyond the 15% buffer, with up to 85% principal loss possible.
Indicative economics per security: Price to public $1,000, fees $23.25, and proceeds to issuer $976.75. The estimated value would be approximately $958.90 (not less than $920.00) if priced today. These securities are not bank deposits, may have limited liquidity, and secondary values reflect internal funding and hedging costs.
JPMorgan Chase Financial Company LLC filed a preliminary 424(b)(2) pricing supplement for Auto Callable Accelerated Barrier Notes linked to Broadcom Inc. (AVGO), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may auto‑call on November 27, 2026 if AVGO’s closing price is at or above the call value, paying $1,000 plus a Call Premium of at least $283 per $1,000. If not called and AVGO is above the initial value at maturity, returns are 1.50x the stock’s appreciation. A 60% barrier applies at maturity.
The notes pay no interest and no dividends, are unsecured and unsubordinated, and carry the credit risk of both the issuer and guarantor. Minimum denomination is $1,000. Selling commissions will not exceed $12.50 per $1,000. If priced today, the estimated value would be about $964.90 per $1,000, and will not be less than $930.00 per $1,000 when set. Key dates: expected pricing on or about November 25, 2025, settlement on or about December 1, 2025, observation on November 27, 2028, and maturity on November 30, 2028.
JPMorgan Chase Financial Company LLC filed a preliminary 424(b)(2) pricing supplement for Auto Callable Contingent Interest Notes linked to Pinterest, Inc. (Class A), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes target a contingent interest of at least 12.10% per annum (paid monthly at ≥1.00833%), if on each Review Date the PINS closing price is at or above the Interest Barrier/Trigger set at 55.00% of the Initial Value.
The notes may be automatically called on any Review Date starting May 19, 2026 (excluding the first five and final Review Dates) if PINS closes at or above the Initial Value, paying $1,000 plus the applicable monthly interest. If not called, and on the final Review Date the Final Value is at or above the Trigger, investors receive $1,000 plus the last interest; if below, repayment equals $1,000 + ($1,000 × Stock Return), risking a loss of more than 45% and up to all principal.
Minimum denomination is $1,000. Selling commissions will not exceed $15 per $1,000. If priced today, the estimated value would be about $966.10 per $1,000, and when set will not be less than $930.00. Expected pricing is on or about November 19, 2025, settlement on or about November 24, 2025, and maturity on December 24, 2026.
JPMorgan Chase Financial Company LLC priced a $1,224,000 offering of Auto Callable Contingent Interest Notes linked to the MerQube US Tech+ Vol Advantage Index, due November 8, 2030, and fully guaranteed by JPMorgan Chase & Co.
The notes pay a Contingent Interest Rate of 11.90% per annum (monthly) when the Index closes at or above 70.00% of the Initial Value, and are automatically called on quarterly review dates if the Index is at or above the Initial Value, beginning November 5, 2026. Principal is protected only by a 15.00% buffer; if held to maturity without call and the Final Value is below the 85.00% Buffer Threshold, investors lose 1% of principal per 1% decline beyond the buffer, up to 85.00% loss.
Per note pricing: $1,000 Price to Public, $44 fees and commissions, and $956 proceeds to issuer; the estimated value was $909 per $1,000 at pricing. The notes are unsecured obligations of JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., and are expected to settle on or about November 10, 2025. The Index includes a 6.0% per annum daily deduction and a notional financing cost, which can materially depress Index performance. The notes will not be listed; liquidity may be limited.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Uncapped Accelerated Barrier Notes linked to the lesser performing of the Russell 2000 Index and the S&P 500 Index, due November 18, 2030, under a Rule 424(b)(2) prospectus.
The notes provide at least 1.44x any positive return of the lesser-performing index at maturity. If either index finishes below its 65.00% barrier of initial value, repayment is reduced one-for-one with the decline, and investors can lose some or all principal. The notes pay no interest or dividends, are unsecured and unsubordinated, and are subject to the credit risk of the issuer and guarantor. Minimum denomination is $1,000. For brokerage accounts, selling commissions will not exceed $6.00 per $1,000. For certain fee-based accounts, the price will not be lower than $994.00 per $1,000. The preliminary estimated value is approximately $970.00 per $1,000 and will not be less than $950.00 per $1,000 when set.
JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement for Auto Callable Contingent Interest Notes linked to the least performing of the Nasdaq‑100 Index, Russell 2000 Index and SPDR S&P Regional Banking ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes offer a contingent interest rate of at least 8.95% per annum (0.74583% monthly) when, on a Review Date, each underlying is at or above its 70% Interest Barrier. They are auto‑callable on any Review Date (other than the first five and final) if each underlying is at or above its Initial Value, with the earliest auto‑call assessment on May 14, 2026. If not called, at maturity on November 16, 2028 investors receive par plus the final contingent coupon if each underlying is at or above its 60% Trigger Value; otherwise, repayment of principal is reduced one‑for‑one with the decline of the least performing underlying, potentially to zero.
Denomination is $1,000. Selling commissions will not exceed $30 per $1,000 note. If priced today, the estimated value would be about $945.60 per $1,000, and will not be less than $900.00 per $1,000 when set. Payments are subject to the credit risk of the issuer and guarantor.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering quarterly callable notes linked to the MerQube US Large‑Cap Vol Advantage Index (MQUSLVA) under a Rule 424(b)(3) terms supplement. The notes have a five‑year term, a one‑year non‑call period, and may be automatically called on quarterly review dates if the index is at or above the applicable Call Value.
The index employs rules‑based exposure to E‑Mini S&P 500 futures with a maximum 500% exposure and includes a 6.0% per annum daily deduction. The Barrier Amount is 60.00% of the Initial Value. If called, holders receive $1,000 plus the applicable Call Premium (not less than 16.25% per annum, increasing at later review dates). If not called and the final index value is below the barrier, repayment of principal is reduced by the Underlying Return.
Key dates: Pricing Date November 13, 2025; Final Review Date November 13, 2030; Maturity Date November 18, 2030. Estimated value will not be less than $870 per $1,000. Payments are subject to the credit risk of the issuer and guarantor.
JPMorgan Chase & Co. is offering $2,435,000 of Callable Step-Up Fixed Rate Notes due November 5, 2055. The notes pay fixed annual interest that steps from 5.30% (from November 7, 2025 to November 7, 2040) to 5.50% (to November 7, 2050) and then 6.00% (to maturity). Interest is paid each November 7, beginning November 7, 2026, on a 30/360 basis.
The issuer may redeem the notes, in whole but not in part, on the 7th calendar day of May and November each year from May 7, 2030 to May 7, 2055, at par plus accrued interest. The notes mature on November 5, 2055 if not called, when principal plus accrued interest is payable.
The price to the public is $1,000 per note. Total fees and commissions are $73,170 ($30.049 per $1,000), for proceeds to the issuer of $2,361,830. Tax counsel expects the notes to be treated as step-up fixed-rate debt instruments issued without original issue discount.
JPMorgan Chase Financial Company LLC announced a preliminary pricing supplement for Capped Buffered Enhanced Participation Equity Notes linked to the S&P 500 Index, due January 15, 2027 and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay no interest and repay at maturity based on index performance from the trade date to the January 13, 2027 determination date.
For each $1,000 note, upside exposure is 1.25x to a cap, with a maximum settlement amount expected between $1,128.50 and $1,150.75. A 10% buffer protects principal for declines up to 10%; losses beyond that are magnified by a ~1.1111 buffer rate. The estimated value is expected between $975.70 and $985.70 per $1,000. The expected cap level ranges from 110.28% to 112.06% of the initial index level.
The original issue price is 100% of principal; the underwriting commission is up to 1.17% of principal. The notes are unsecured obligations of JPMorgan Chase Financial, guaranteed by JPMorgan Chase & Co., will not be listed, and have no redemption feature. Tax counsel expects treatment as open transactions for U.S. federal income tax purposes, subject to IRS guidance. Any payment is subject to the issuer’s and guarantor’s credit risk.
JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement for Auto Callable Accelerated Barrier Notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may auto-call starting March 9, 2027 if the Index closes at or above the Call Value, paying $1,000 plus a Call Premium Amount based on a Call Premium Rate of at least 23.50%.
If not called, at maturity on December 8, 2032 investors receive 3.00 times any Index gain; principal is returned if the Final Value is at or above the 50.00% Barrier Amount; below the barrier, losses are 1:1 with the Index. The Index includes a 6.0% per annum daily deduction and a notional financing cost tied to SOFR+0.50%, which drags performance versus an identical index without these deductions.
Key terms: minimum denomination $1,000; selling commissions up to $20 per $1,000; estimated value would be about $924.70 per $1,000 note if priced today (and not less than $900 when set). The notes pay no interest or dividends, will not be listed, and are subject to the credit risk of the issuer and guarantor.
JPMorgan Chase Financial Company LLC is offering 7yNC15m Auto Callable Accelerated Barrier Notes linked to the MerQube US Tech+ Vol Advantage Index. The notes feature a 3.00 Upside Leverage Factor and a 50.00% Barrier Amount, with an automatic call if the Index on any Review Date is at or above the Call Value (100% of the Initial Value), paying the applicable Call Premium Amount.
The Call Premium Rate will be at least 23.50% and accrues using $1,000 × Call Premium Rate × N/252. Review Dates run each scheduled trading day from March 9, 2027 through March 2, 2029, the Observation Date is December 3, 2032, and maturity is December 8, 2032. If not called and the Final Value exceeds the Initial Value, repayment equals $1,000 plus 3× Index Return; if at or above the Barrier Amount, principal is returned; if below the Barrier, losses match the Index Return.
The Index reflects a 6.0% per annum daily deduction, and the QQQ-linked Underlying Asset is subject to a daily notional financing cost. The estimated value will not be less than $900 per $1,000 note at pricing. Payments are subject to the credit risk of the issuer and the guarantor.
JPMorgan Chase Financial Company LLC filed a preliminary Rule 424(b)(2) pricing supplement for Medium‑Term Notes, Series A — $ Digital Equity Notes due 2027 linked to the EURO STOXX 50 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay no interest and return at maturity depends on index performance from the trade date to the determination date. If the final index level is at or above 87.50% of the initial level, holders receive a threshold settlement amount expected between $1,133.30 and $1,156.80 per $1,000. If the index declines by more than 12.50%, principal losses are incurred on a leveraged basis (approximately 1.1429×) beyond the 12.50% buffer.
Key terms include a cap level expected between 113.33% and 115.68% of the initial index level, determination date July 21, 2027, and stated maturity July 23, 2027. Estimated value is expected between $982.20 and $992.20 per $1,000. Original issue price is 100% with 0.00% underwriting commission and 100% net proceeds to the issuer. The notes are unsecured, not listed, not redeemable, and are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase & Co. plans a preliminary offering of Callable Fixed Rate Notes due November 19, 2055. The notes pay fixed interest of 5.35% per annum, with interest paid annually on November 19, starting in 2026, using a 30/360 day count, Following Business Day Convention and Unadjusted Interest Accrual.
The notes are callable at JPMorgan’s option, in whole but not in part, on the 19th of May and November each year from November 19, 2031 through May 19, 2055, at par plus accrued interest. The Original Issue Date is expected to be November 19, 2025.
Indicative pricing shows a per-note price to the public of $1,000 (with certain eligible accounts between $925.10 and $1,000 per $1,000 principal amount). Selling commissions would be approximately $24.50 per $1,000 note, not to exceed $50.00. The notes are unsecured, not bank deposits, and not FDIC insured.
The issuer highlights resolution considerations: in a single point of entry resolution, losses would be borne first by equity and then unsecured creditors, including holders of these notes, whose claims are structurally junior to creditors of subsidiaries.
JPMorgan Chase Financial Company LLC plans to offer auto‑callable 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 at a premium if the Index closes at or above the Call Value on a Review Date, with the earliest potential call on November 20, 2026, and a scheduled maturity on November 22, 2030.
The Index embeds a 6.0% per annum daily deduction and a daily notional financing cost tied to SOFR + 0.50%, which will generally weigh on performance. The notes do not pay interest or dividends and carry principal-at-risk; if not called and the Final Value is below the Barrier Amount, repayment is reduced 1% for each 1% Index decline from the Initial Value.
Minimum denomination is $1,000 per note; selling commissions will not exceed $10 per $1,000 note. If priced today, the estimated value would be about $950 per $1,000, and, when set, will not be less than $930 per $1,000. Illustrative minimum Call Premium Amounts range from $255 on the first Review Date up to $1,275 on the final Review Date.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., filed a preliminary 424(b)(2) pricing supplement for market‑linked, auto‑callable securities tied to Shopify Inc. Class A shares. Each $1,000 security pays a contingent coupon only if Shopify’s stock on the quarterly calculation day is at or above a threshold set at 60% of the starting price; the annual rate will be at least 17.35%, paid quarterly if earned.
The notes may be automatically called if the stock closes at or above the starting price on quarterly dates from February 2026 to August 2028, returning principal plus the final coupon. If not called, at maturity on November 17, 2028 you receive $1,000 if the ending price is at or above the threshold; otherwise, repayment equals $1,000 plus $1,000 × stock return, exposing you to losses greater than 40% and potentially to full principal loss. Per security economics: Price to public $1,000, fees $23.25, proceeds to issuer $976.75, and an estimated value of about $947.40 at pricing (not less than $900).
JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement for Auto Callable Accelerated Barrier Notes linked to the lesser performing of Intel (INTC) and Uber (UBER), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called on November 16, 2026 if each stock is at or above its Call Value (100% of Initial Value), paying $1,000 plus a Call Premium of at least $480 per note.
If not called, at maturity on November 16, 2027 holders receive an uncapped 2.00x return on any gain of the lesser performer, provided both Final Values exceed Initial Values. If either Final Value is at or below its Initial Value but both are at or above the Barrier Amount (50% of Initial Value), principal is returned. If either falls below its Barrier Amount, repayment is reduced one-for-one with the lesser performer’s loss, down to zero.
Denomination is $1,000. Estimated value would be approximately $920 per $1,000 note if priced today and will not be less than $900 when set. The notes pay no interest or dividends, are unsecured obligations of JPMorgan Chase Financial, and carry the credit risk of both the issuer and guarantor.
JPMorgan Chase Financial Company LLC plans to issue Medium-Term Notes, Series A — Digital Absolute Return Equity Notes due May 11, 2027, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked to the S&P 500 Index and pay no interest.
If the final index level is greater than or equal to the initial level, holders receive a threshold settlement amount expected at $1,061.60–$1,072.20 per $1,000. If the index declines by up to 25.00%, the payoff equals the absolute value of that return. If the decline exceeds 25.00%, principal is lost at a buffer rate of approximately 1.3333, up to total loss. Returns are capped by an expected cap level of 106.16%–107.22% of the initial level.
The estimated value at pricing is expected to be $968.30–$978.30 per $1,000. Underwriting commissions are up to 1.51% of principal. Key dates: trade date on or about November 7, 2025, settlement on or about November 13, 2025, determination date May 7, 2027. The notes will not be listed, have no redemption, and are subject to the credit risks of the issuer and guarantor.
JPMorgan Chase Financial Company LLC (AMJB) filed a preliminary pricing supplement for auto‑callable Review Notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be called early if the Index closes at or above the Call Value (100% of the Initial Value) on a Review Date, with the earliest possible call on November 13, 2026.
Call Premium Amounts are at least 18.25% of $1,000 on the first Review Date, rising to at least 91.25% on the final Review Date. A 15.00% Buffer Amount applies at maturity if not called; below the buffer, repayment is reduced dollar‑for‑dollar, up to an 85.00% principal loss. The notes pay no interest and do not provide dividends.
The Index level reflects a 6.0% per annum daily deduction, and QQQ exposure is reduced by a daily notional financing cost, both of which drag performance. Minimum denomination is $1,000. Expected pricing is on or about November 7, 2025 with settlement on or about November 13, 2025. If priced today, the estimated value would be approximately $909.60 per $1,000, and will not be less than $900.00 per $1,000. Selling commissions will not exceed $44.00 per $1,000.
JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement for Uncapped Digital Barrier Notes linked to the least performing of the S&P 500, Russell 2000, and Dow Jones Industrial Average, due November 30, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes offer uncapped, unleveraged upside at maturity and a contingent digital return of at least 20.80% if each index finishes at or above its 70.00% barrier. If any index is below its barrier, repayment equals principal plus the least performing index return, meaning losses exceed 30% and can reach 100%.
Denominations are $1,000. Expected pricing is on or about November 26, 2025 with settlement on or about December 2, 2025. Sales to fee‑based advisory accounts forgo commissions. If priced today, the estimated value would be approximately $972.30 per $1,000, and, when set, will not be less than $940.00 per $1,000. The notes pay no interest or dividends, are unsecured, and will not be listed; secondary market liquidity may be limited.
JPMorgan Chase Financial Company LLC filed a preliminary 424(b)(2) pricing supplement for Auto Callable Contingent Interest Notes linked to the Nasdaq-100, Russell 2000, and S&P 500, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a Contingent Interest only if each index is at or above its 70.00% Interest Barrier on a Review Date. The Contingent Interest Rate is at least 8.05% per annum (2.0125% quarterly). The notes may be automatically called if each index is at or above its Initial Value on any Review Date other than the first and final; the earliest potential call is May 6, 2026. If not called, the notes mature on May 11, 2028.
Price to public is $1,000 per note (minimum denominations of $1,000). Selling commissions will not exceed $30 per $1,000 principal amount. If priced today, the estimated value would be ~$950 per $1,000, and will not be less than $930 per $1,000 when set. Principal is at risk if any index finishes below its Trigger Value at maturity; dividends on index constituents are not paid.
JPMorgan Chase Financial Company LLC plans to issue Capped Buffered Equity Notes linked to the lesser performing of the Dow Jones Industrial Average and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes seek 1.00x upside in the lesser performing index, capped at a maximum return of at least 27.60% at maturity.
Investors forgo interest and dividends and are protected by a 30.00% downside buffer; losses begin if either index falls by more than 30%, with up to 70.00% principal loss possible at maturity. Key dates include an expected pricing on or about December 5, 2025, observation on December 6, 2027, and maturity on December 9, 2027. Minimum denomination is $1,000. If priced today, the estimated value would be approximately $989.60 per $1,000 and will not be less than $950.00 per $1,000 when set. Notes are unsecured, unlisted, and subject to the credit risk of both the issuer and guarantor.
JPMorgan Chase Financial Company LLC plans to offer Capped Buffered Equity Notes linked to the S&P 500 Index, due December 1, 2027, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes target equity upside up to a maximum return of at least 27.00% with a 20.00% buffer against index declines and a 1.25 downside leverage factor beyond the buffer. Minimum denomination is $1,000. They are expected to price on or about November 25, 2025 and settle on or about December 1, 2025.
At maturity, investors receive principal plus index gains up to the cap, par if declines are within the buffer, or losses magnified by the downside factor if the S&P 500 falls more than 20%. The Observation Date is November 26, 2027. The notes pay no interest or dividends, are unsecured, and are subject to the credit risk of the issuer and guarantor. The price to public is $1,000 per note with proceeds to the issuer of $1,000 per note for fee-based accounts. If priced today, the estimated value would be about $995.70 per $1,000 note and will not be less than $970.00 per $1,000 when set.
JPMorgan Chase & Co. is offering callable zero coupon notes due November 17, 2050. The notes are sold at an original issue price of $222.638 per $1,000 principal amount, accrue no periodic interest, and accrete at a 6.10% yield to maturity (compounded semiannually, 30/360).
The issuer may redeem the notes in whole on the 17th of May and November each year from November 17, 2027 to May 17, 2050 at the Accreted Principal Amount shown in the annexed schedule. If not called, payment at maturity is 100% of principal, subject to the stated conventions. In an event of default, the accelerated amount equals the Accreted Principal Amount on the acceleration date.
Selling commissions, if priced as shown, would be approximately $4.453 per $1,000 (2.00%) and will not exceed $11.132 per $1,000 (5.00%). The notes are unsecured obligations of JPMorgan Chase & Co. and are expected to be issued with OID. Resolution frameworks described could subject holders, as unsecured creditors, to losses ahead of subsidiary creditors in a JPMorgan resolution.
JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes linked to the Class A common stock of Meta Platforms, Inc., due November 10, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a Contingent Interest Payment on any Review Date when Meta’s closing price is at least 65.00% of the Initial Value (the Interest Barrier). Missed interest is paid later if a future Review Date meets the barrier. The notes are automatically called if Meta’s price is at least the Initial Value on any Review Date other than the first and final; the earliest potential call is May 7, 2026. The hypothetical Contingent Interest Rate is shown at 10.80% per annum (at least 10.80% p.a., paid quarterly). If not called, and the Final Value is below the 65.00% Trigger Value, principal is reduced 1% for each 1% decline from the Initial Value, which can result in a significant loss.
The price to public is $1,000 per note (minimum denomination $1,000). If priced today, the estimated value would be approximately $962 per $1,000 note and will not be less than $940 at pricing. Advisory accounts pay not lower than $976.50 per $1,000 (no selling commissions); brokerage selling commissions will not exceed $23.50 per $1,000. The notes are unsecured, not listed, and subject to the credit risk of the issuer and guarantor.
JPMorgan Chase Financial Company LLC priced a Rule 424(b)(2) offering of Auto Callable Contingent Interest Notes linked to the Nasdaq-100, Russell 2000, and S&P 500. The total offering size is $3,763,000, at $1,000 per note. Selling commissions are $7 per $1,000, for total fees of $26,341, resulting in $3,736,659 in proceeds to the issuer. The estimated value was $972 per $1,000 when terms were set. The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a 9.75% per annum contingent interest (paid 2.4375% quarterly, or $24.375 per $1,000) for each Review Date that all three indices close at or above 70.00% of their Initial Values. Initial Values were 25,972.94 (Nasdaq-100), 2,471.238 (Russell 2000) and 6,851.97 (S&P 500), making the 70.00% barriers 18,181.058, 1,729.8666 and 4,796.379, respectively. The notes auto-call if, on any Review Date other than the first and final, each index is at or above its Initial Value; the earliest call review is May 4, 2026.
If not called, the notes mature on November 8, 2027. At maturity, investors receive $1,000 plus the final contingent interest if each index is at or above its Trigger Value (70.00% of Initial Value). Otherwise, repayment is reduced by the Least Performing Index Return, which can result in losing more than 30.00%—up to all—of principal. Payments are subject to the credit risk of the issuer and guarantor. CUSIP: 48136JEU4.
JPMorgan Chase Financial Company LLC filed a preliminary 424(b)(2) pricing supplement for Auto Callable Contingent Interest Notes linked to the MerQube US Tech+ Vol Advantage Index, due November 19, 2030, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a monthly contingent interest at a rate of at least 13.00% per annum (1.08333% per month) when the Index closes on an Interest Review Date at or above 75.00% of the Initial Value (the Interest Barrier). They are auto‑callable quarterly if the Index is at or above the Initial Value, with the earliest call on November 16, 2026. If held to maturity and not called, principal is protected only above the 70.00% Buffer Threshold; otherwise investors can lose up to 70.00% of principal.
The Index reflects a 6.0% per annum daily deduction and a notional financing cost, which drag performance. Minimum denominations are $1,000. Selling commissions will not exceed $6.50 per $1,000. If priced today, the estimated value would be about $946.30 per $1,000; at pricing it will not be less than $900.00 per $1,000. Pricing is expected on or about November 14, 2025, with settlement on or about November 19, 2025.
JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement for Auto Callable Contingent Interest Notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. This is a primary offering under Rule 424(b)(2); proceeds go to the issuer.
The notes target quarterly Contingent Interest Payments at a rate of at least 8.50% per annum (≥2.125% per quarter) if, on a Review Date, the Index closes at or above the Interest Barrier of 54.00% of the Initial Value. The notes are auto-callable if the Index is at or above the Call Value of 90.00% of the Initial Value on any Review Date other than the first, second and final; the earliest possible call is August 7, 2026.
If not called, at maturity on November 13, 2030 you receive principal plus the final interest if the Index is at or above the Trigger (54.00% of Initial Value); otherwise, repayment is reduced one-for-one with Index decline, which can result in substantial loss of principal. The Index includes a 6.0% per annum daily deduction, which drags performance. Minimum denomination is $1,000; selling commissions will not exceed $42.75 per $1,000. The estimated value would be about $903.70 per $1,000 if priced today, and will not be less than $900.00 per $1,000 at pricing, subject to credit risk of the issuer and guarantor.
JPMorgan Chase Financial Company LLC is offering Digital Barrier Notes linked to the lesser performing of the Russell 2000 Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co., and due December 17, 2026.
The notes pay a fixed return of at least 12.15% at maturity if the Final Value of each index is at or above 85.00% of its Initial Value on the Observation Date (December 14, 2026). If either index finishes below the 85% barrier, repayment reflects the lesser performing index return, meaning investors can lose more than 15% and up to all principal. The notes do not pay periodic interest or dividends, are unsecured and unsubordinated, and are subject to the credit risk of both the issuer and guarantor.
Minimum denomination is $1,000. Selling commissions will not exceed $15 per $1,000. If priced today, the estimated value is approximately $972.50 per $1,000, and will not be less than $940.00 per $1,000 when terms are set. The notes are expected to price on or about November 14, 2025 and settle on or about November 19, 2025, will not be listed, and may have limited liquidity.