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 & Co. filed a preliminary 424B2 for Callable Fixed Rate Notes due October 31, 2030. The notes pay fixed interest of 4.10% per annum, with interest paid annually on October 31, beginning in 2026, using a 30/360 day count and Following/Unadjusted conventions.
The issuer may redeem the notes, in whole but not in part, on the last calendar day of April and October from October 31, 2027 through April 30, 2030, at par plus accrued interest. If not called, holders receive principal plus accrued interest at maturity on October 31, 2030.
Indicative selling economics show a price to the public between $987.60 and $1,000 per $1,000 note, and selling commissions that would be approximately $6.75 per $1,000 (not to exceed $17.50). The notes are unsecured obligations of JPMorgan Chase & Co., are not FDIC insured, and are subject to resolution frameworks in which losses could be imposed on unsecured creditors, including noteholders. Tax counsel expects treatment as fixed‑rate debt instruments.
JPMorgan Chase & Co. plans to issue Callable Fixed Rate Notes due October 29, 2055. The notes pay a fixed 5.70% per annum, with interest paid in arrears each year on October 31, beginning October 31, 2026 and continuing to October 31, 2054, and on the Maturity Date. Interest uses the 30/360 day count, Following Business Day Convention, and an Unadjusted Interest Accrual Convention.
The notes are callable at the issuer’s option on the last calendar day of April and October, starting October 31, 2027 and ending April 30, 2055. If called, holders receive principal plus accrued interest; notice to DTC will be at least five business days before a Redemption Date.
The preliminary price to the public is $1,000 per $1,000 note, with eligible institutional or fee-based sales between $927.60 and $1,000. If priced today, selling commissions would be approximately $5.50 per $1,000 note and will not exceed $50.00 per $1,000 note. The notes are not bank deposits and are not FDIC insured.
JPMorgan Chase & Co. filed a preliminary pricing supplement for Callable Fixed Rate Notes due October 31, 2030. The notes pay 4.25% per annum, with interest paid in arrears on October 31 each year beginning in 2026. Interest uses a 30/360 day count, a Following business day convention, and an Unadjusted interest accrual convention.
The issuer may redeem the notes, in whole but not in part, at par plus accrued interest on the last calendar day of April and October from October 31, 2027 through April 30, 2030, with at least 5 business days’ notice to DTC. The Pricing Date is October 29, 2025 and the Original Issue Date is October 31, 2025. For certain accounts, the price to the public will be between $987.60 and $1,000 per $1,000 principal amount. If priced today, selling commissions would be approximately $1.50 per $1,000, capped at $12.50 per $1,000. These securities are not FDIC insured. In a resolution scenario, unsecured creditors, including noteholders, may bear losses and are structurally junior to subsidiary creditors.
JPMorgan Chase & Co. filed a preliminary 424B2 for Callable Fixed Rate Notes due October 31, 2035. The notes pay a fixed 4.60% per annum, with interest paid in arrears each October 31, starting in 2026, using a 30/360 day count, Following Business Day Convention and Unadjusted Interest Accrual Convention.
The notes are callable by the issuer, in whole but not in part, on the last calendar day of April and October from October 31, 2027 through April 30, 2034, at par plus accrued interest, with at least five business days’ notice. If outstanding to maturity, holders receive principal plus any accrued and unpaid interest on October 31, 2035.
The indicated price to the public is $1,000 per $1,000 principal amount (eligible institutional/fee-based accounts may see $975.10–$1,000). Selling commissions would be approximately $18.50 per $1,000, not to exceed $40.00 per $1,000. The notes are unsecured and not FDIC insured.
JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement for Digital Barrier Notes linked to the lesser performing of the Russell 2000 and S&P 500, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on February 4, 2027 and are expected to price on or about October 31, 2025 with settlement on or about November 5, 2025.
The notes target a fixed return of at least 11.80% at maturity if the final level of each index is at or above 75.00% of its initial level (the Barrier Amount). If either index finishes below its barrier, principal is reduced 1% for each 1% decline in the lesser performer, which can result in substantial loss of principal.
The notes pay no interest or dividends, are issued in minimum denominations of $1,000, and will not be listed on an exchange. If priced today, the estimated value would be approximately $988.80 per $1,000 note; when finalized, it will not be less than $950.00 per $1,000. Sales are to fee-based advisory accounts with broker-dealers foregoing commissions. Payments are subject to the credit risk of the issuer and guarantor.
JPMorgan Chase Financial Company LLC filed a preliminary 424(b)(2) pricing supplement for Capped Dual Directional Buffered Equity Notes linked to the S&P 500 Index, due October 30, 2026, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes offer unleveraged upside to the Index, capped at a Maximum Upside Return of at least 8.00%, and a dual-direction feature that provides a positive return equal to the absolute value of declines up to the 15.39% buffer.
At maturity, investors receive $1,000 plus the Index Return, subject to the upside cap; if the Index is down by up to 15.39%, investors receive $1,000 plus the Absolute Index Return. If the Index falls by more than 15.39%, losses increase at a 1.18189x Downside Leverage Factor. The maximum payment with a negative Index Return is $1,153.90 per $1,000 note; the maximum with a positive return is $1,080.00 at an 8.00% cap. Key terms include an Index Strike Level of 6,644.31 (closing level on October 14, 2025), Valuation Date of October 27, 2026, and minimum denominations of $10,000 and $1,000 increments. The notes pay no interest or dividends and are unsecured obligations subject to the credit risk of the issuer and guarantor. If priced today, the estimated value would be $985.50 per $1,000, with a minimum of $970.00 to be set at pricing. Selling commissions will not exceed $10 per $1,000.
JPMorgan Chase Financial Company LLC is offering 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, due April 23, 2027, and fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay monthly contingent interest only when each index closes at or above 75% of its Initial Value, with a Contingent Interest Rate of at least 11.75% per annum. Principal is protected only if, at maturity and absent earlier redemption, the least performing index is at or above its 70% Trigger Value; otherwise, repayment is reduced 1-for-1 with the index decline. The issuer may redeem the notes in whole on any Interest Payment Date starting January 23, 2026.
Illustrative economics include an estimated value of approximately $977.30 per $1,000 note on the date hereof (final estimated value to be provided, not less than $900 per $1,000). Selling commissions will not exceed $7.25 per $1,000. Minimum denomination is $1,000. Pricing is expected on or about October 20, 2025, with settlement on or about October 23, 2025.
JPMorgan Chase Financial Company LLC priced a 424(b)(2) structured note offering of Contingent Income Auto‑Callable Securities due October 13, 2028, linked to Snowflake Inc. Class A common stock. The securities pay a $29.00 contingent quarterly payment (2.90% of $1,000) for each determination date that Snowflake’s closing price is at or above the downside threshold of $121.085 (50% of the $242.17 initial stock price).
The notes auto‑call on any determination date (other than final) if Snowflake closes at or above $242.17, returning the $1,000 principal plus the applicable contingent payment and any previously unpaid contingent payments. If not called, and the final price is at or above the threshold, holders receive $1,000 plus the final contingent payment (and any unpaid contingents). If the final price is below the threshold, the payoff is $1,000 × (final/initial), which is less than 50% of principal and could be zero.
Total issuance is $8,592,000; issue price is $1,000 per security with total fees and commissions of $193,320 and proceeds to issuer of $8,398,680. The estimated value on pricing date is $957.80 per $1,000. The notes are unsecured obligations of JPMorgan Chase Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., and will not be listed on any exchange.
JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., is offering Uncapped Digital Barrier Notes linked to the lesser performing of the S&P 500 Index and the Russell 2000 Index, maturing on November 5, 2029.
The notes provide uncapped, unleveraged upside at maturity if both indices finish at or above their initial levels, with a Contingent Digital Return of at least 44.00% or the lesser index’s actual return, whichever is greater. If either index is below its initial level but both remain at or above 75.00% of initial (the barrier), principal is returned. If either index closes below its 75.00% barrier, repayment falls one-for-one with the lesser index’s decline and investors can lose a significant portion or all principal. The notes pay no interest or dividends, have minimum denominations of $1,000, are expected to price on or about October 31, 2025 and settle on or about November 5, 2025. An illustrative estimated value is $973.70 per $1,000 (not less than $950.00 when set), and a structuring fee of $8.00 per $1,000 may be paid to dealers.
JPMorgan Chase Financial Company LLC plans to offer Callable Contingent Interest Notes due April 22, 2027, 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.
Holders receive a Contingent Interest Payment only if, on a Review Date, the closing level of each index is at least 70.00% of its Initial Value (the Interest Barrier). The Trigger Value is also 70.00%. The notes are callable at the issuer’s option on any Interest Payment Date other than the first, second and final, with the earliest call on January 23, 2026.
The Contingent Interest Rate will be provided at pricing and will be at least 11.25% per annum. Denominations are $1,000. If priced today, the estimated value would be $977.40 per $1,000, and will not be less than $900.00 per $1,000 when set. Selling commissions will not exceed $7.25 per $1,000. These unsecured, unsubordinated notes are not listed, may pay no interest, and can result in loss of principal if the least performing index finishes below its Trigger Value.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., filed a preliminary pricing supplement for Trigger PLUS, principal-at-risk structured notes linked to an unequally weighted basket of five international equity indices. The notes offer leveraged upside with a leverage factor of at least 148.70% and include an 80% trigger level; if the final basket value falls below the trigger, investors lose principal on a 1-for-1 basis.
The basket weights are: EURO STOXX 50 (40.00%), TOPIX (25.00%), FTSE 100 (17.50%), Swiss Market Index (10.00%) and S&P/ASX 200 (7.50%). Each note has a $1,000 stated principal amount and $1,000 issue price. Per-note economics list $25.00 in selling commissions and a $5.00 structuring fee, for $970.00 proceeds to the issuer. The estimated value would be approximately $958.20 per $1,000 note based on current assumptions and will not be less than $930.00 on the pricing date. The expected valuation date is October 31, 2028, with maturity on November 3, 2028. Payments are subject to the credit risk of the issuer and guarantor, and the notes will not be listed.
JPMorgan Chase Financial Company LLC filed a preliminary 424(b)(2) pricing supplement for Auto Callable Contingent Interest Notes linked to Diamondback Energy, Inc. (FANG). The notes pay a Contingent Interest Payment of at least $25.00 per $1,000 principal amount on each Interest Payment Date if, on the related Review Date, FANG is at or above the Interest Barrier of 55.00% of the Stock Strike Price. Missed coupons can be paid later if a subsequent Review Date meets the barrier.
The notes may be automatically called on any non-final Review Date if FANG is at or above the Stock Strike Price, returning $1,000 plus the due coupon and any unpaid coupons; the earliest potential call is January 27, 2026. If not called, and no Trigger Event occurs, maturity pays $1,000 plus the due coupon and any unpaid coupons. If a Trigger Event occurs (Final Stock Price below the Trigger Level), maturity pays $1,000 + ($1,000 × Stock Return), exposing investors to loss of more than 45% and up to all principal.
Key terms: Stock Strike Price $142.39; Interest Barrier/Trigger Level $78.3145 (55.00% of strike); Strike Date October 14, 2025; Valuation Date October 27, 2026; Maturity Date October 30, 2026; minimum denominations $10,000 and $1,000 increments; no listing. The notes are unsecured obligations of JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co. If priced today, the estimated value would be approximately $977.10 per $1,000, and will not be less than $960.00 when set. Selling commissions will not exceed $10.00 per $1,000.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Capped Buffer Absolute Return Securities linked to the S&P 500 Index, due on or about November 20, 2026. The notes are issued in $10 denominations (minimum $1,000). Price to public is $10.00 per note, selling commissions are $0.10 per $10, and proceeds to the issuer are $9.90 per $10.
The payoff depends on index performance: with 100% participation, upside gains are capped at a Maximum Upside Gain between 7.00% and 7.55% (finalized on the Trade Date). If the index return is zero or negative but finishes at or above the Downside Threshold (85% of the Initial Value), investors receive principal plus the absolute value of the index return. If the index falls below the threshold, losses match the decline beyond the 15% Buffer, up to an 85% loss of principal.
The notes pay no interest and do not provide dividends from index constituents. Key dates: Trade Date October 17, 2025; Settlement October 22, 2025; Final Valuation November 17, 2026; Maturity November 20, 2026. The estimated value would be approximately $9.842 per $10 if priced today and will not be less than $9.50 per $10 when set. All payments are subject to the creditworthiness of the issuer and guarantor.
JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement for S&P 500-linked Digital Buffered Notes, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes target a fixed return via a Contingent Digital Return of at least 7.00%, paying $1,070.00 per $1,000 at maturity if the Ending Index Level is at or above the Initial Index Level, or down by up to 15.00%.
If the S&P 500 falls by more than 15.00%, principal is reduced on a leveraged basis using a 1.17647 downside factor. There are no interest or dividend payments. The notes are unsecured obligations of JPMorgan Financial and subject to the credit risk of both the issuer and guarantor.
Key terms include minimum denominations of $10,000 (and integral multiples of $1,000), Pricing Date on or about October 17, 2025, Valuation Date October 30, 2026, and Maturity Date November 4, 2026. Price to public is $1,000 per note; selling commissions will not exceed $10.00 per $1,000. If priced today, the estimated value would be approximately $986.40 per $1,000, and will not be less than $970.00 per $1,000 when finalized.
JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated Digital Buffered Notes linked to the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a fixed return equal to a Contingent Digital Return of at least 8.27% at maturity if the Ending Index Level is at or above the Initial Index Level, or down by up to 10.00%. The maximum payment is $1,082.70 per $1,000 note. If the Index falls by more than 10%, principal is reduced at a 1.11111% rate for each additional 1% decline.
The notes are expected to price on or about October 17, 2025, settle on or about October 22, 2025, have a Valuation Date of October 30, 2026 and mature on November 4, 2026. Denominations are $10,000 and integral multiples of $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 $986.40 per $1,000 note, and will not be less than $970.00 when set. The notes pay no interest or dividends and are not exchange-listed.
JPMorgan Chase Financial Company LLC priced Contingent Income Callable Securities fully and unconditionally guaranteed by JPMorgan Chase & Co., tied to the worst of the Nikkei 225, S&P 500 and Russell 2000. The aggregate principal amount is $3,909,000.
The notes pay a contingent quarterly coupon of 2.0625% ($20.625 per $1,000) only if each index closes at or above 65% of its initial level on every day of the monitoring period; otherwise no coupon is paid. They are callable at the issuer’s discretion on any contingent payment date (except the final one). If not called, at maturity on October 15, 2027 investors receive par only if each index is at or above its downside threshold; if any index is below, repayment is reduced 1‑to‑1 with the worst performer and can be zero.
Initial index levels: NKY 48,088.80, SPX 6,552.51, RTY 2,394.595; downside thresholds are 65% of these. The estimated value is $958 per $1,000. Price to public is $1,000 per note; proceeds to issuer are $980 per note ($3,830,820 total) after fees.
JPMorgan Chase & Co. plans a primary offering of senior unsecured notes, comprising fixed‑to‑floating rate notes and floating rate notes issued under its senior indenture. The notes will be issued in book‑entry form through DTC, in $2,000 denominations and larger $1,000 multiples, and will not be listed on any exchange.
During floating periods, interest will reference a benchmark expected to be Compounded SOFR plus a spread, with detailed benchmark transition provisions if a Benchmark Transition Event occurs. The notes include optional redemption features and have no sinking fund. Affiliates may make a secondary market but are not obligated to do so.
Use of proceeds: net proceeds will be contributed to JPMorgan Chase Holdings LLC for general corporate purposes, including investments in subsidiaries, dividends, extensions of credit, redemptions or repurchases, and potential acquisitions or business expansion. The notes rank equally with other unsecured and unsubordinated obligations and are not FDIC insured.
JPMorgan Chase Financial Company LLC filed 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 1.50x upside to index gains, capped at a maximum return of at least 19.00%, with a 15.00% downside buffer at maturity. They pay no interest or dividends, are unsecured and unsubordinated, and expose holders to the credit risk of both the issuer and guarantor. Minimum denomination is $1,000. The notes are expected to price on or about October 31, 2025, settle on or about November 5, 2025, and mature on November 4, 2027.
If priced today, the estimated value would be approximately $986.10 per $1,000 note; upon finalization it will not be less than $950.00 per $1,000. Investors may lose up to 85.00% of principal if the index falls more than the buffer at maturity. The notes will not be listed, and secondary market prices may be lower than the issue price.
JPMorgan Chase Financial Company LLC priced a 424(b)(2) tranche of Capped Dual Directional Contingent Buffered Equity Notes linked to the S&P 500 Index, totaling $7,773,000 at $1,000 per note. Selling commissions are $10 per $1,000, for issuer proceeds of $990 per $1,000 (total $7,695,270).
The notes offer an unleveraged upside equal to the Index return, capped at a Maximum Upside Return of 10.00%. If the Index declines, investors receive the Absolute Index Return when losses are within the 18.30% Contingent Buffer; the maximum negative‑side payment is $1,183.00 per $1,000. If the Index falls by more than 18.30%, principal is reduced 1% for each 1% decline.
Key terms include Initial Index Level 6,552.51 (pricing date October 10, 2025), Valuation Date October 23, 2026, and Maturity Date October 28, 2026. The notes pay no interest or dividends, are unsecured and unsubordinated obligations of JPMorgan Chase Financial Company LLC, and are fully and unconditionally guaranteed by JPMorgan Chase & Co. Estimated value is $982.60 per $1,000. Minimum denomination is $10,000.
JPMorgan Chase Financial Company LLC priced an SEC-registered offering of Auto Callable Buffered Equity Notes linked to the S&P 500 Index. The notes are offered at $1,000 per note, totaling $2,704,000, with selling fees of $15 per note and expected proceeds to the issuer of $2,663,440. The notes are unsecured and unsubordinated obligations of JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes may be automatically called on October 23, 2026 if the Index closes at or above its initial level (6,552.51), paying $1,000 plus an 8.15% call premium. If not called, maturity payments (October 14, 2027) provide uncapped upside with a contingent minimum return of 16.30% if the Ending Index Level is at or above the Initial Index Level. A 15.00% buffer applies; beyond that, losses accrue at a 1.17647x downside leverage. No interest or dividends are paid, and liquidity may be limited. The estimated value was $977.40 per $1,000 on pricing.
JPMorgan Chase Financial Company LLC filed a 424(b)(2) 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.
The notes may pay a monthly Contingent Interest of at least 0.88333% (at least 10.60% per annum) when the Index closes at or above the Interest Barrier of 60% of the Initial Value; missed coupons can be paid later if the barrier is met. The notes auto-call quarterly if the Index is at or above the Initial Value, with the earliest call on October 22, 2026. If not called, they mature on October 26, 2028. Principal is protected only if the Final Value is at least the Trigger Value of 50% of the Initial Value; below that, losses track the Index decline.
The Index includes a 6.0% per annum daily deduction, which drags performance. Minimum denomination is $1,000; price to public is $1,000 per note; selling commissions will not exceed $9 per $1,000. The estimated value would be approximately $977 per $1,000 if priced today and will not be less than $900 per $1,000 when set. Payments are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC priced $1,369,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co., due October 16, 2030.
The notes pay a Contingent Interest Rate of 8.75% per annum (0.72917% monthly) on any Review Date when the Index closes at or above the 70% Interest Barrier. Any unpaid coupons accrue and are paid on the next qualifying Review Date. The notes are auto‑callable on Review Dates beginning October 12, 2026 if the Index is at or above the 94% Call Value. At maturity, if not called, principal is protected only to the 85% Buffer Threshold; below that, losses increase 1:1, up to 85% of principal.
Pricing terms: $1,000 price to public per note; $39 fees and commissions; $961 proceeds to issuer; estimated value $917.80 per $1,000 at pricing. The unsecured notes carry the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are offered in $1,000 minimum denominations, and will not be listed. The underlying Index includes a 6.0% per annum daily deduction and a daily notional financing cost, which may materially drag performance, with exposure dynamically set to target 35% volatility (0%–500% cap).
JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes linked to Freeport‑McMoRan common stock. The notes pay a $12.825 Contingent Interest Payment per $1,000 note for any Review Date when FCX is at or above the Interest Barrier of $32.1375 (75.00% of the $42.85 Stock Strike Price). The notes are automatically called if FCX closes at or above the Stock Strike Price on any Review Date before maturity; the earliest possible call date is November 10, 2025.
If not called and a Trigger Event occurs (Final Stock Price below the $32.1375 Trigger Level), repayment of principal is reduced by 1.33333% for each 1% FCX declines beyond 25.00%, which can result in substantial loss of principal. Denominations are $10,000 minimum and integral multiples of $1,000. Total offering size is $24,000,000 (price to public), with $24,000 in fees and $23,976,000 in proceeds to the issuer. The estimated value was $988.30 per $1,000 note. The notes are unsecured obligations of JPMorgan Chase Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement for Uncapped Buffered Return Enhanced Notes linked to the lesser performing of the Dow Jones Industrial Average and the S&P 500 Index, due October 18, 2029. The notes are unsecured obligations of JPMorgan Chase Financial Company LLC and are fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes offer an uncapped return of at least 1.05x any positive performance of the lesser performing index at maturity, with a 30.00% buffer against declines. If either index falls by more than 30%, repayment is reduced 1% for each additional 1% decline, up to a 70% loss of principal. The notes pay no interest or dividends. Minimum denomination is $1,000. They are expected to price on or about October 15, 2025, settle on or about October 20, 2025, have an observation date of October 15, 2029, and mature on October 18, 2029. If priced today, the estimated value would be approximately $978.10 per $1,000 note, and will not be less than $940.00 per $1,000 when set. Selling commissions will not exceed $11.00 per $1,000 note.
JPMorgan Chase Financial Company LLC outlined a preliminary 424(b)(2) 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 contingent coupon of at least 13.50% per annum (at least 1.125% monthly) when the Index closes at or above 75.00% of the Initial Value on monthly review dates. They are automatically called on quarterly review dates if the Index is at or above the Initial Value, with the earliest call on October 26, 2026. If not called, the notes mature on October 29, 2030.
The structure includes a 15.00% Buffer Amount (Buffer Threshold 85.00% of Initial Value). If the Final Value is below the Buffer Threshold, repayment is reduced dollar-for-dollar beyond the buffer, with up to 85.00% principal loss possible. Minimum denomination is $1,000. Indicative estimated value is approximately $920 per $1,000 today and will not be less than $900 at pricing. The Index incurs a 6.0% per annum daily deduction and a notional financing cost, which can drag performance. The notes are unsecured, unlisted, and subject to the credit risk of the issuer and guarantor.
JPMorgan Chase Financial Company LLC priced a $600,000 primary offering of Auto Callable Contingent Interest Notes linked to the MerQube US Large-Cap Vol Advantage Index, due October 15, 2030, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a contingent interest rate of 11.15% per annum (0.92917% per month) when the Index closes on a Review Date at or above the Interest Barrier of 70.00% of the Initial Value (2,815.148). They are auto-callable if, on specified Review Dates (not the first through eleventh or final), the Index is at or above the Initial Value of 4,021.64; the earliest call date is October 9, 2026. If not called, principal is protected only if the Final Value is at or above the Trigger Value of 60.00% (2,412.984); below that, losses mirror the Index’s decline.
Per note, the price to public is $1,000, fees and commissions are $42.75, and proceeds to the issuer are $957.25 (total proceeds $574,350). The estimated value was $900.00 per $1,000 note. The Index includes a 6.0% per annum daily deduction, which acts as a drag on performance. The notes are unsecured and subject to the credit risk of both the issuer and guarantor.
JPMorgan Chase Financial Company LLC priced a Rule 424(b)(2) offering of $551,000 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 $12.375 per $1,000 (a 14.85% per annum rate) if, on each monthly review date, the Index closes at or above 70.00% of the Initial Value.
The notes may be automatically called quarterly starting October 12, 2026 if the Index is at or above the Initial Value. If not called, they mature on October 16, 2030. Principal is at risk: if the Final Value is below 85.00% of the Initial Value, repayment is reduced 1% for each 1% decline beyond the 15% buffer, up to an 85.00% loss. Key levels: Initial Value 12,001.35, Interest Barrier 8,400.945, Buffer Threshold 10,201.1475. The Index includes a 6.0% per annum daily deduction and a notional financing cost on QQQ exposure, which drags performance. Pricing: price to public $1,000 per note; fees $6.50; proceeds to issuer $993.50 per note (total proceeds $547,418.50). Estimated value on pricing date: $945.10 per $1,000.
JPMorgan Chase Financial Company LLC plans to issue Capped Buffered Equity Notes linked to the S&P 500 Index, due December 3, 2026, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes offer 1.00x upside on any S&P 500 gain, capped at a maximum return of at least 11.90%, and a 15.00% downside buffer at maturity.
The notes pay no interest or dividends and are unsecured, unsubordinated obligations subject to the credit risk of both the issuer and guarantor. Denominations are $1,000. They are expected to price on or about October 31, 2025 and settle on or about November 5, 2025.
If priced today, the estimated value would be approximately $992.50 per $1,000 principal amount, and when set, will not be less than $960.00 per $1,000. Sales are to certain fee-based advisory accounts, with broker-dealers foregoing commissions. Repayment at maturity depends on index performance: return of principal if the decline is within the 15% buffer, capped participation on gains, and losses beyond the buffer potentially up to 85% of principal.
JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement for callable structured notes linked to the MerQube US Large‑Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called on a Review Date if the Index closes at or above the Call Value, with the earliest potential call on October 20, 2026 and a stated maturity on October 18, 2030. The notes do not pay interest or dividends and expose holders to loss of principal at maturity if the Index finishes below the barrier level.
The Index applies a 6.0% per annum daily deduction, which can offset gains and amplify losses, and targets 35% implied volatility with exposure to E‑mini S&P 500 futures that can range from 0% to 500%. Minimum Call Premium Amounts per $1,000 are scheduled from $155.00 on the first Review Date up to $775.00 on the final Review Date. If priced today, the estimated value would be approximately $927.90 per $1,000 note, and when set will not be less than $900.00 per $1,000. Minimum denominations are $1,000 and integral multiples thereof.
JPMorgan Chase & Co. filed a preliminary pricing supplement for Callable Step-Up Fixed Rate Notes due October 31, 2031. The notes pay 4.15% per annum from October 31, 2025 to October 31, 2028, then 5.00% per annum to October 31, 2031. Interest is paid annually on October 31, beginning 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 last calendar day of April and October from October 31, 2027 through April 30, 2031, at par plus accrued interest. The indicated per-note price to the public is $1,000, with eligible institutional or fee-based accounts between $985.10 and $1,000 per $1,000 principal amount. If priced today, selling commissions would be approximately $2.50 per $1,000 and will not exceed $15.00 per $1,000. CUSIP: 48130C6H3. Tax counsel expects treatment as step‑up fixed‑rate debt issued without original issue discount.
JPMorgan Chase Financial Company LLC plans a primary offering of Uncapped Return Enhanced Notes linked to the least performing of the Dow Jones Industrial Average, S&P 500 Index, and Nasdaq-100 Index, due October 25, 2030 and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes target an Upside Leverage Factor of at least 1.83 on any positive performance of the least performing index at maturity; they pay no interest or dividends and expose principal to loss if any index finishes below its initial level.
Denominations are $1,000, with expected pricing on or about October 22, 2025 and settlement on or about October 27, 2025. Selling commissions will not exceed $7.50 per $1,000 principal amount. If priced today, the estimated value would be approximately $978.90 per $1,000, and when set will not be less than $940.00 per $1,000. Payments are unsecured and unsubordinated obligations of JPMorgan Chase Financial Company LLC, subject to the credit risk of the issuer and guarantor. The notes will not be listed, and any secondary market price may be lower than the original issue price.
JPMorgan Chase Financial Company LLC launched a preliminary pricing supplement for Auto Callable Contingent Interest Notes linked to Super Micro Computer, Inc. (SMCI), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes aim to pay a monthly contingent coupon of at least $16.875 per $1,000 (at least 20.25% per annum) whenever SMCI’s closing price on a Review Date is at or above 50.00% of the Initial Value (the Interest Barrier), with any previously unpaid coupons paid when conditions are met.
The notes are automatically called if, on designated Review Dates (excluding the first five and final), SMCI closes at or above the Initial Value; the earliest call date is April 20, 2026. If not called, and the Final Value is at or above the Trigger Value (50% of Initial Value), investors receive $1,000 plus the applicable coupon and any unpaid coupons at maturity on April 23, 2027. If the Final Value is below the Trigger, repayment equals $1,000 + ($1,000 × Stock Return), resulting in losses that can exceed 50% and up to all principal.
Minimum denominations are $1,000. The notes are expected to price on or about October 20, 2025 and settle on or about October 23, 2025. An indicative estimated value is approximately $944.80 per $1,000, and the final estimated value will not be less than $900.00 per $1,000. All payments are subject to the credit risk of the issuer and guarantor.
JPMorgan Chase Financial Company LLC is offering Trigger Autocallable Contingent Yield Notes fully and unconditionally guaranteed by JPMorgan Chase & Co., linked to the lesser performing of the Russell 2000 Index and the EURO STOXX 50 Index. The notes target a Contingent Coupon Rate of 10.00%–10.60% per annum, paid quarterly only if each index closes at or above its Coupon Barrier on the Observation Date. They are callable quarterly after six months if each index is at or above its Initial Value; upon call, investors receive principal plus that quarter’s coupon.
The Downside Threshold equals the Coupon Barrier at 70% of Initial Value. If not called and either index finishes below its threshold at maturity, repayment is reduced proportionately to the lesser performer’s decline, up to total loss of principal. Key dates: Trade Date October 15, 2025; Settlement October 20, 2025; Maturity October 19, 2028. Issue price is $10 per note (minimum $1,000). The preliminary estimated value is about $9.823 per $10 and will not be less than $9.50 per $10. The notes are unsecured, not listed, and payments depend on the credit of the issuer and guarantor.
JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement for Medium‑Term Notes, Series A — Digital Equity Notes due 2027, linked to the S&P 500 Index and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay no interest and the maturity payment depends on index performance from the trade date to the determination date. If the final index level is at least 90% of the initial level, holders receive a threshold settlement amount expected between $1,140.80 and $1,165.20 per $1,000. If the index falls more than 10%, returns turn negative and principal can be lost.
Key terms include a 10% buffer, a cap level expected between 114.08% and 116.52% of the initial level, and an estimated value expected between $964.30 and $974.30 per $1,000. The notes are not listed, carry an original issue price of 100% with an underwriting commission up to 2.00%, and are subject to the credit risk of the issuer and guarantor. Indicative timing: trade date on or about October 17, 2025; determination date October 18, 2027; stated maturity date October 20, 2027.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., filed a preliminary pricing supplement for Callable Fixed to Floating Rate Notes linked to the 30‑Year and 2‑Year U.S. Dollar SOFR ICE Swap Rates, due October 31, 2045.
The notes pay a fixed 7.25% per annum during the Initial Interest Periods (from issuance through October 31, 2030). Thereafter, interest resets each quarter to the Spread (30‑Year SOFR ICE Swap Rate minus 2‑Year SOFR ICE Swap Rate) times a 7.0 Multiplier, subject to a 7.00% cap and 0.00% floor. Interest is paid on the last calendar day of January, April, July and October, commencing January 31, 2026.
The issuer may redeem in whole on the last day of January, April, July and October from October 31, 2030 to maturity at 100% of principal plus accrued interest, with at least 5 Business Days’ notice. If priced today, estimated value is $925.90 per $1,000 (not less than $900.00 when set). Selling commissions would be approximately $32.50 per $1,000, not exceeding $50.00 per $1,000.
Key risks include call risk, the potential for 0.00% interest if the Spread is non‑positive, limited secondary liquidity, sensitivity to SOFR ICE Swap Rate methodologies, and reliance on the issuer’s and guarantor’s credit.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $2,600,000 of Callable Fixed-to-Floating Rate Notes. The price to public is $1,000 per note, with selling commissions of $31.212 per $1,000 and expected net proceeds of $2,518,850. The notes pay interest quarterly (Jan 15, Apr 15, Jul 15, Oct 15) on a 30/360 basis and mature on October 13, 2045.
Interest is fixed at 7.50% per annum through October 15, 2030. Thereafter, it floats at 7.0 × (30-Year SOFR ICE Swap Rate − 2-Year SOFR ICE Swap Rate), subject to a 0.00% minimum and 7.00% maximum per annum. The issuer may redeem the notes in whole at par plus accrued interest on each Jan 15/Apr 15/Jul 15/Oct 15, starting October 15, 2030, with at least 5 Business Days’ notice to DTC. The estimated value is $909.50 per $1,000 at pricing. If the 30-year rate does not exceed the 2-year rate on a Determination Date, no interest accrues for that period.
JPMorgan Chase Financial Company LLC priced a primary offering of $490,000 in 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 are issued in $1,000 denominations at $1,000 price to public, with $12.50 fees per note and $987.50 proceeds to the issuer; the estimated value was $934.80 per $1,000 when set.
The notes pay a monthly contingent coupon at 16.35% per annum (1.3625% per month) if the Index closes on or above the 70.00% Interest Barrier (2,610.678). They auto-call quarterly if the Index is at or above the Initial Value, first eligible on October 12, 2026. If not called, maturity is October 16, 2030. Principal is at risk: if the Final Value is below the 50.00% Trigger Value (1,864.77), repayment is reduced by the Index decline, potentially to zero. The Index includes a 6.0% per annum daily deduction, which drags performance. Initial Value was 3,729.54.
JPMorgan Chase Financial Company LLC priced Auto Callable Buffered Equity Notes linked to the EURO STOXX 50 Index under Rule 424(b)(2). The offering totals $2,718,000 at $1,000 per note, with $40,770 in fees and $2,677,230 in proceeds to the issuer. Minimum denominations are $10,000.
The notes may be automatically called on October 23, 2026 if the Index closes at or above the Initial Index Level of 5,531.32, paying $1,000 plus a 10.10% call premium on October 28, 2026. If not called and the Ending Index Level is at or above the Initial Index Level, investors receive uncapped upside with a Contingent Minimum Return of 20.20% (i.e., at least $1,202 per $1,000). A 15.00% buffer applies; below that, losses amplify at a 1.17647 downside leverage factor. Valuation is October 11, 2027 and maturity is October 14, 2027. No interest or dividends are paid.
The notes are unsecured and unsubordinated obligations of JPMorgan Chase Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co. The estimated value is $975.30 per $1,000 at pricing. The notes will not be listed; secondary market liquidity may be limited.
JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement for Auto Callable Accelerated Barrier Notes linked to the least performing of Salesforce (CRM), Broadcom (AVGO) and AMD (AMD), due October 20, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes may be automatically called on October 23, 2026 if each stock’s closing price is at or above its 100% Call Value, returning $1,000 plus a Call Premium Amount of at least $936.50 per $1,000 note. If not called, at maturity investors receive an uncapped 2.00x return on the least performing stock’s gain; par is returned if each final value is at or above the 60.00% Barrier Amount of its initial value. If any final value is below its barrier, repayment is reduced one-for-one with the least performer and could be zero.
The notes pay no interest and offer no dividends. They are unsecured obligations of JPMorgan Chase Financial and subject to the credit risk of both the issuer and guarantor. The preliminary estimated value is approximately $946.60 per $1,000 note; the final estimated value will be provided at pricing and will not be less than $920.00. Minimum denominations are $1,000. Sales are to fee-based advisory accounts; dealers may receive a $8 per $1,000 structuring fee.
JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement for Capped Buffered Equity Notes linked to Constellation Energy Corporation common stock. The notes target unleveraged equity exposure with a Maximum Return of at least 92.00% and a 15.00% Buffer Amount at maturity. They pay no interest or dividends and expose holders to the credit risk of JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes are expected to price on or about October 31, 2025, settle on or about November 5, 2025, and mature on November 3, 2028, with the Observation Date on October 31, 2028. Minimum denomination is $1,000. If priced today, the estimated value would be approximately $941.00 per $1,000, and will not be less than $900.00 per $1,000 when set. Investors receive principal if the Final Value is at or above 85% of the Initial Value; upside is capped at the Maximum Return. Below the buffer, principal is reduced 1-for-1 with further declines. The notes will not be listed, and secondary prices may be lower than the issue price.
JPMorgan Chase Financial Company LLC priced a Rule 424(b)(2) structured note offering totaling $632,000 of 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 are issued in $1,000 denominations, with selling commissions of $9 per note and estimated issuer proceeds of $626,312.
The notes pay a 15.75% per annum contingent interest (1.3125% monthly) when the Index closes at or above the Interest Barrier of 2,610.678 (70% of the Initial Value 3,729.54). They are auto-callable quarterly if the Index is at or above the Initial Value, with the earliest call on October 12, 2026, and mature on October 16, 2030. If not called, principal is protected only if the Final Value is at or above the Trigger Value of 1,864.77 (50% of Initial Value); otherwise, repayment is reduced one-for-one with Index decline.
The Index includes a 6.0% per annum daily deduction, which can materially drag performance. The notes are unsecured obligations subject to the credit risk of the issuer and guarantor. The estimated value at pricing was $927.10 per $1,000 note.
JPMorgan Chase Financial Company LLC priced $8,721,000 of 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 are offered at $1,000 per note, with $2.50 in fees and commissions and issuer proceeds of $997.50 per note, for total proceeds of $8,699,197.50. The estimated value is $924.50 per $1,000.
The notes pay a contingent monthly coupon of $14.7083 (a 17.65% per annum rate) if the Index is at or above the 70.00% Interest Barrier; otherwise no interest is paid. They may be automatically called quarterly if the Index is at or above the Initial Value, first eligible on April 10, 2026. If not called, the notes mature on October 14, 2032.
Key levels: Initial Value 3,729.54; Interest Barrier 2,610.678 (70%); Trigger Value 1,864.77 (50%). If the Final Value is below the Trigger, principal declines 1-for-1 with Index losses and can be fully lost. The Index includes a 6.0% per annum daily deduction, which is a drag on performance. The notes are unsecured obligations of JPMorgan Chase Financial and subject to the credit risk of the issuer and guarantor. Minimum denomination is $1,000; expected settlement is October 16, 2025.
JPMorgan Chase Financial Company LLC priced a $9,193,000 offering of Uncapped Dual Directional Buffered Return Enhanced Notes linked to the lesser of the Dow Jones Industrial Average and the S&P 500, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to settle on or about October 16, 2025 and mature on October 15, 2027.
The notes offer 1.02x any positive return of the lesser-performing index at maturity, or a capped, unleveraged “absolute” return for declines up to the 15.00% buffer. If either index falls by more than 15.00%, principal is reduced 1-for-1 beyond the buffer, up to an 85.00% loss. The maximum payment when the lesser performer is negative is $1,150.00 per $1,000 note.
Per-note terms: price to public $1,000, selling commission $1.50, proceeds to issuer $998.50 (total proceeds $9,179,210.50). The estimated value was $990.00 per $1,000 at pricing. The notes pay no interest or dividends, will not be listed, and are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC priced $5,280,000 of Capped Buffered Enhanced Participation Equity Notes linked to the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay no interest and mature on October 20, 2027, with the underlier measured from the October 9, 2025 trade date to the October 18, 2027 determination date.
At maturity, each $1,000 note pays based on S&P 500 performance: 1.5x upside participation, capped at a maximum settlement amount of $1,239.70 (cap level 115.98%). A 12.5% buffer protects principal only for declines up to 12.5%; beyond that, losses are magnified by a buffer rate of approximately 1.1429. The initial underlier level was 6,735.11.
The original issue price was 100% of principal; underwriting commission was 0.00%, and net proceeds to the issuer were 100%. The estimated value at pricing was $994.70 per $1,000. The notes are not listed, have no redemption feature, and are subject to the credit risks of the issuer and guarantor.
JPMorgan Chase Financial Company LLC plans a primary offering of unsecured, unsubordinated 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 target a Contingent Interest Rate of at least 9.10% per annum (paid monthly at ≥0.75833%) when, on each Review Date, each index closes at or above 70.00% of its Initial Value (the Interest Barrier). They are callable at the issuer’s option on any Interest Payment Date starting January 23, 2026 (except the first, second and final dates). Minimum denomination is $1,000. Maturity is September 22, 2027.
If not called, and the Final Value of any index is below its 70.00% Trigger Value, repayment of principal is reduced one-for-one with the decline in the least performing index, and investors could lose all principal. If each index is at or above its Trigger Value, investors receive $1,000 plus the final Contingent Interest Payment. The preliminary estimated value is approximately $961.20 per $1,000, and will not be less than $900.00 per $1,000 when set. Selling commissions will not exceed $22.25 per $1,000.
JPMorgan Chase Financial Company LLC priced a structured note offering totaling $448,000, fully and unconditionally guaranteed by JPMorgan Chase & Co. The Review Notes are linked to the MerQube US Large-Cap Vol Advantage Index and mature on October 16, 2031, with the earliest automatic call on April 10, 2026 if the Index closes at or above the Call Value.
The notes are issued in $1,000 denominations at a price to public of $1,000 per note, including $42.75 in selling commissions, for issuer proceeds of $957.25 per note ($428,848 total). The estimated value at pricing was $907.60 per $1,000 note.
Call premiums escalate from 11.250% on the first Review Date up to 135.000% on the final Review Date. If not called, repayment depends on the Index: principal is returned if the Final Value is at least the Barrier Amount (60.00% of Initial Value); otherwise, repayment equals $1,000 plus $1,000 × Index Return, risking substantial loss. The Index deducts 6.0% per annum daily and can employ leverage up to 500%, both of which can materially affect performance.
JPMorgan Chase Financial Company LLC filed a preliminary 424(b)(2) pricing supplement for Capped Return Enhanced Notes linked to a WTI crude oil futures contract, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes offer 3.00x upside to a maximum return of at least 29.90% and mature on October 20, 2026. Investors forgo interest and can lose some or all principal.
The Strike Value was set at $59.49 (Contract Price on October 13, 2025). If the Final Value exceeds the Strike Value, payment equals principal plus 3.00x the contract return, capped at the maximum; at or below the Strike Value, repayment falls one-for-one with the decline, with no floor above $0. Key dates include an Observation Date of October 15, 2026.
Minimum denomination is $1,000. For advisory accounts, the price will not be lower than $982.50 per $1,000 note; brokerage selling commissions will not exceed $17.50 per $1,000 note. If priced today, the estimated value would be about $971.50 per $1,000 note, and when set, will not be less than $960.00. The notes will not be listed, and values are subject to the credit risk of the issuer and guarantor.
JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement for Uncapped Accelerated Barrier Notes linked to the least performing of the Dow Jones Industrial Average, Nasdaq‑100 Index, and Russell 2000, due October 20, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes target an uncapped payoff of at least 1.827x the least performing index’s gain if all three indices finish above their initial levels at maturity. A 60% barrier (of each index’s initial value) provides principal return only if each final level is at or above its barrier; if any index finishes below its barrier, repayment is reduced one-for-one with the least performer’s decline, and investors can lose most or all principal.
Key terms include minimum denominations of $1,000, an observation date of October 17, 2028, and expected pricing/settlement on or about October 17/22, 2025. Selling commissions will not exceed $9.50 per $1,000 note. If priced today, the estimated value would be approximately $981 per $1,000, and the final estimated value disclosed at pricing will not be less than $900 per $1,000. 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 is offering Auto Callable Dual Directional Buffered Equity Notes linked to the S&P 500 Index. The notes may be automatically called if the Index closes at or above the Index Strike Level on the Review Date, paying $1,000 plus a 9.40% call premium per note.
If not called, investors receive an uncapped upside for positive Index Return, or a dual-directional benefit for declines up to the 20.00% Contingent Buffer Amount (positive return equal to the Absolute Index Return). If the Index falls more than 20.00%, principal loss matches the decline beyond the buffer. The Index Strike Level is 6,753.72 (Strike Date October 8, 2025); Review Date October 21, 2026; Valuation Date October 8, 2027; Maturity October 14, 2027. Minimum denominations are $10,000 and $1,000 increments.
Price to public is $1,000 per note, with $15 fees and estimated value of $976.10. The table shows a total offering of $505,000 and proceeds to issuer of $497,425. The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., pay no interest or dividends, are not listed, and are not FDIC insured.
JPMorgan Chase & Co. filed a preliminary pricing supplement for Callable Fixed Rate Notes due April 28, 2034. The notes pay 4.45% per annum, with interest payable in arrears on October 31 each year from 2026 through 2033 and on the maturity date, using a 30/360 day count, Following Business Day Convention and Unadjusted Interest Accrual Convention.
The notes are callable quarterly on the last calendar day of January, April, July and October, from October 31, 2027 through January 31, 2034, at par plus accrued interest, in whole but not in part. The Pricing Date is October 29, 2025 and the Original Issue Date (settlement) is October 31, 2025.
Per $1,000 principal amount, eligible institutional or fee‑based accounts may see a public price between $980.10 and $1,000. Indicative selling commissions are approximately $17.25 per $1,000, not to exceed $35.00. Tax counsel opines the notes will be treated as fixed‑rate debt instruments. In a resolution scenario, recoveries for unsecured creditors, including noteholders, could be subordinated to subsidiary and secured claims.