Alerian MLP Index ETN 424B Filings

JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes due September 5, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked to the MerQube US Tech+ Vol Advantage Index, an excess-return, volatility-target index with up to 500% leverage, a 6.0% per annum daily index deduction and a daily notional financing cost on the QQQ Fund exposure.

Holders may receive monthly contingent interest at a rate of at least 18.00% per annum (at least 1.50% per month) if, on each Interest Review Date, the Index is at or above 75.00% of its Initial Value (the Interest Barrier); otherwise no interest is paid. The notes are automatically called quarterly if the Index is at or above its Initial Value, starting August 31, 2027, returning principal plus the applicable interest for that period. If never called and at maturity the Index is at or above the 85.00% Buffer Threshold, investors receive principal plus the final contingent interest; below that level, principal is reduced according to index loss beyond the 15.00% buffer, with up to 85.00% principal loss. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and they will not be listed or pay dividends.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Payment for each Review Date on which the Index closes at or above an Interest Barrier set at 50.00% of the Initial Value; if the Index is below that level, no interest is paid.

The notes may be automatically called beginning on August 26, 2027 if on a Review Date (other than the first three and final) the Index is at or above the Initial Value, in which case investors receive $1,000 plus the applicable interest and no further payments. If not called, at maturity on August 29, 2031 investors receive $1,000 plus the final interest if the Final Value is at or above the Trigger Value (also 50.00% of the Initial Value); otherwise the payoff is $1,000 plus $1,000 × Index Return, exposing investors to losses up to 100% of principal.

The Index applies a 6.0% per annum daily deduction and a daily notional financing cost (SOFR + 0.50% per annum) and can use leverage up to 500% with a 35% target volatility, which will generally cause it to underperform an identical index without these deductions. If priced today, the estimated value would be approximately $914.40 per $1,000 note, with a minimum estimated value at issuance of $900.00, and the Contingent Interest Rate will be at least 10.50% per annum, paid quarterly. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is offering Buffered Callable Range Accrual Notes linked to the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co., and maturing on August 29, 2031. These structured notes pay variable monthly interest based on how often, during each interest period, the S&P 500 closes at or above 85.00% of the Initial Value (the Minimum Index Level); if the Accrual Provision is never met in a period, interest for that period is 0.00% per annum. The interest rate is capped by an Interest Factor of 6.85% per annum.

At maturity, if the S&P 500 Final Value is at or above the Buffer Level of 85.00% of the Initial Value, investors receive full principal back per $1,000 note, plus any accrued and unpaid interest. If the Final Value falls below the Buffer Level, repayment is reduced dollar-for-dollar by losses beyond the 15.00% Buffer Amount, and investors can lose up to 85.00% of principal. The issuer may redeem the notes monthly at par plus accrued interest starting August 31, 2027. Selling commissions would be approximately $35.00 per $1,000 note (not exceeding $40.00), and the estimated value, if priced on the described date, would be about $938.10 per $1,000 note, not less than $900.00 when set.

JPMorgan Chase Financial Company LLC is issuing $635,000 in Auto Callable Contingent Interest Notes, fully and unconditionally guaranteed by JPMorgan Chase & Co., linked to the least performing of three State Street SPDR ETFs focused on regional banks, energy and utilities. The notes pay a Contingent Interest Rate of 11.45% per annum, credited monthly, but only for Review Dates when the closing price of one share of each Fund is at or above 75.00% of its Initial Value (the Interest Barrier). Missed coupons can be paid later if the condition is subsequently met.

The notes are auto-callable from February 1, 2027 onward if each Fund is at or above its Initial Value on a Review Date; investors then receive $1,000 per note plus the applicable coupon and any unpaid coupons, with no further payments. If not called, at maturity investors receive par only if each Fund’s Final Value is at or above its Trigger Value of 60.00% of Initial Value; otherwise repayment is reduced by the full negative return of the least performing Fund, exposing holders to substantial principal loss.

The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The price to public is $1,000 per note, including $7.50 in selling commissions, with $992.50 in proceeds to the issuer and an estimated value of $972.30 per $1,000 at pricing.

JPMorgan Chase Financial Company LLC is issuing $1,324,000 of Capped Dual Directional Buffered Equity 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 are scheduled to mature on February 3, 2028, with pricing on July 30, 2026 and expected settlement on or about August 4, 2026.

Each note has a $1,000 denomination, offers unleveraged exposure to index gains up to a Maximum Upside Return of 35.00%, and provides a dual-direction feature where investors can earn up to 10.00% if the lesser performing index declines by up to that Buffer Amount. If either index falls more than 10%, principal is reduced 1% for each additional 1% decline in the lesser performing index, with up to 90.00% loss of principal at maturity.

The notes pay no interest and provide no dividends or equity rights. The price to public is $1,000 per note, including selling commissions of $19 and issuer proceeds of $981 per note. The estimated value at pricing is $966.20 per $1,000 note, reflecting internal funding and hedging costs, and any payment is subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is offering Buffer Autocallable GEARS, unsecured notes linked to the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each Security has a $10 principal amount and a term to about August 15, 2029, unless called earlier.

If on the August 19, 2027 Observation Date the index closes at or above the Autocall Barrier (100% of the Initial Value), the notes are automatically called and pay a Call Price of $10.90 per $10, reflecting a 9.00% Call Return; investors then forgo any further upside. If not called and the index is above its Initial Value at maturity, investors receive principal plus a leveraged gain equal to the index return times the Upside Gearing, expected between 1.20 and 1.40. If not called and the final index level is between 90% and 100% of the Initial Value, principal is repaid. Below the 90% Downside Threshold, principal is reduced 1% for every 1% decline beyond the 10% Buffer, with losses up to 90% of principal.

The notes pay no interest or dividends, are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and have an estimated value below issue price. They are not bank deposits or FDIC insured. Tax treatment is uncertain and discussed under U.S. federal tax and Section 871(m) considerations.

JPMorgan Chase Financial Company LLC is offering Auto Callable Accelerated Barrier Notes linked to the Class A common stock of Meta Platforms, Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a barrier feature and provide equity-linked exposure without dividends or interest.

The notes may be automatically called on August 12, 2027 if Meta’s share price is at or above the Call Value, paying $1,000 plus a Call Premium Amount of at least $291 per $1,000. If not called and Meta’s final price is above the initial price, investors receive $1,000 plus 1.25× the stock’s positive return. If the final price is at or above 80% of the initial price, principal is returned at maturity on August 9, 2029.

If the final price is below the 80% Barrier Amount, repayment is reduced 1% for every 1% decline from the initial price, and investors may lose most or all principal. The notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The estimated value is indicated as approximately $962.10 per $1,000 and will not be less than $900.00 per $1,000 at pricing.

JPMorgan Chase Financial Company LLC is offering $1,014,000 in Auto Callable Dual Directional Accelerated Barrier Notes linked to the lesser performing shares of The TJX Companies, Inc. and Target Corporation, due August 2, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes may be automatically called on August 4, 2027 if each stock is at or above its Call Value, paying $1,300 per $1,000 note. If not called, investors receive leveraged upside of 1.88x any appreciation of the lesser performing stock, or an absolute-return profile on declines up to 40%, provided each stock stays at or above 60% of its Initial Value. Below the Barrier Amount on either stock, principal is exposed one-for-one to the decline of the lesser performer and investors can lose their entire investment.

The price to the public is $1,000 per note, including $25 in fees and commissions, with net proceeds to the issuer of $975 per note. The estimated value at pricing was $948.20 per $1,000 note, reflecting embedded costs and hedging. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not be listed on any exchange, so liquidity may be limited.

JPMorgan Chase Financial Company LLC plans to issue Uncapped Dual Directional Accelerated Barrier Notes linked to the Nasdaq-100 Futures Excess Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on August 19, 2031 and are issued in $1,000 minimum denominations.

At maturity, if the Index has risen, investors receive $1,000 plus at least 1.70× the positive Index return. If the Index is flat or down but not below 60.00% of the Initial Value (the Barrier Amount), investors receive $1,000 plus the absolute Index loss, capped at a 40.00% gain, or $1,400 per $1,000 note.

If the Final Value is below the Barrier Amount, principal is reduced one-for-one with the Index loss, so investors can lose more than 40% and up to 100% of principal. The notes pay no interest, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., may be illiquid, and are expected to have an initial estimated value below the $1,000 issue price.

JPMorgan Chase Financial Company LLC is offering Medium-Term Notes, Series A Digital Equity Notes due May 11, 2028, linked to the S&P 500 Index, with each note having a $1,000 principal amount and a full guarantee from JPMorgan Chase & Co. The notes pay no interest and are not listed on any exchange.

At maturity, if the S&P 500 final level is at least 90.00% of its initial level, investors receive a fixed threshold settlement amount, expected to be $1,142.60–$1,167.70 per $1,000 (a capped return of about 14.26%–16.77%). If the index falls more than 10%, principal loss is leveraged: for each 1% decline beyond the 10% buffer, the loss is about 1.1111% of principal, up to total loss.

The initial estimated value is expected between $967.60 and $977.60 per $1,000, reflecting selling commissions, hedging costs and dealer profits; underwriting commissions are up to 1.29% of principal. Payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co., and the U.S. tax treatment is described as an “open transaction” prepaid financial contract, subject to IRS and Treasury guidance, including potential implications of Section 871(m) for non-U.S. holders.

JPMorgan Chase Financial Company LLC is offering Contingent Income Auto-Callable Securities due August 12, 2027, linked to the common stock of The Goldman Sachs Group, Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The securities pay a contingent quarterly coupon of at least $28.375 (2.8375% of $1,000) per security for each determination date on which Goldman Sachs’ stock closes at or above 65% of the initial stock price, the downside threshold level. Missed coupons do not accrue interest but may be paid later if conditions are met.

If on any non-final determination date the stock closes at or above the initial stock price, the notes are automatically redeemed for $1,000 plus the applicable coupon and any unpaid prior coupons. If held to maturity and the final stock price is at or above the downside threshold, investors receive $1,000 plus the final coupon and any unpaid coupons. If the final stock price is below the downside threshold, repayment of principal is reduced 1-to-1 with the stock decline, resulting in a payment of $1,000 times the stock performance factor, which will be less than 65% of principal and could be zero. Investors do not participate in any upside of the stock and are exposed to the credit risk of JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is offering Contingent Income Auto-Callable Securities due August 10, 2029, linked to the common stock of Eli Lilly and Company. Each security has a $1,000 stated principal amount and is fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent quarterly coupon of at least $27.50 (2.75% of $1,000) per security on any determination date when Eli Lilly’s closing price is at or above 60% of the initial stock price, plus any unpaid prior coupons; no coupon is paid if the stock is below that downside threshold.

If on any non-final determination date the stock closes at or above the initial stock price, the notes are automatically redeemed for $1,000 plus the applicable coupon and any unpaid coupons, and no further payments are made. If not called, and the final stock price is at or above the downside threshold, investors receive $1,000 plus the final coupon and any unpaid coupons at maturity. If the final stock price is below the downside threshold, repayment of principal is reduced 1‑for‑1 with the stock decline via the stock performance factor, so the maturity payment will be less than 60% of principal and could be zero, and investors do not participate in any stock appreciation.

The securities are unsecured obligations subject to the credit risk of JPMorgan Chase Financial and JPMorgan Chase & Co. Selling commissions are up to $17.50 and a structuring fee of $5.00 per $1,000 security. The estimated value would be approximately $961.70 per $1,000 security if priced on the date shown and will not be less than $940.00 on the pricing date.

JPMorgan Chase Financial Company LLC is offering Medium-Term Notes, Series A, Digital Equity Notes due August 7, 2028, linked to the Russell 2000® Index and fully guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and pays no interest.

At maturity, the cash payment depends on index performance from the trade date to August 3, 2028. If the final index level is at or above 85.00% of the initial level, investors receive a fixed threshold settlement amount, expected to be between $1,165.80 and $1,195.00 per $1,000 note, corresponding to a cap level expected between 116.58% and 119.50% of the initial level. If the index falls more than 15.00%, principal is lost on a leveraged basis at approximately 1.1765% for each 1% decline beyond the 15% buffer, down to a total loss.

The notes will not be listed, may have limited liquidity, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing is expected between $964.60 and $974.60 per $1,000, below the 100% issue price, reflecting selling commissions of up to 1.47% and hedging and structuring costs. U.S. tax treatment is uncertain and may be affected by future IRS or Treasury guidance.

JPMorgan Chase Financial Company LLC is offering Contingent Income Auto-Callable Securities due August 10, 2029, linked to the common shares of American Express Company. The $1,000 principal per security is at risk and payments depend on American Express’s share price.

Investors may receive a contingent quarterly payment of at least $27.75 (2.775% of principal) on each determination date if the stock closes at or above 75% of the initial stock price, the downside threshold level. If on any non-final determination date the stock closes at or above the initial stock price, the note is automatically redeemed for $1,000 plus that quarter’s contingent payment.

If not called and the final stock price is at or above the downside threshold, investors receive $1,000 plus the final contingent payment at maturity. If the final stock price is below the downside threshold, repayment of principal is reduced 1-to-1 with the stock decline (via the stock performance factor) and can be zero. Investors do not participate in any stock appreciation and are exposed to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is offering structured Auto Callable Notes linked to the J.P. Morgan Multi-Asset Index (ticker MAX), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on August 12, 2031 and are issued in $1,000 minimum denominations.

The notes pay no interest. On any of four Review Dates from 2027–2030, if the Index closing level is at or above the applicable Call Value (up to 101%–104% of the Initial Value), the notes are automatically called for $1,000 plus a Call Premium of at least 10.80%, 21.60%, 32.40% or 43.20% of principal, respectively. If not called, at maturity investors receive full principal plus an uncapped Additional Amount equal to $1,000 × Index Return × 100% Participation Rate, but not less than zero, providing full downside protection of principal at maturity, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.

The Index is a rules-based, multi-asset, futures-based strategy subject to a 1.00% per annum daily deduction and a 4% target volatility mechanism, and can take notional long and short positions. If priced today, the estimated value would be approximately $932.20 per $1,000 note, with a final estimated value not less than $900.00, reflecting structuring and hedging costs. The notes will not be listed, may be illiquid, and are treated as contingent payment debt instruments for U.S. tax purposes.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Capped Accelerated Barrier Notes linked to the least performing of the Dow Jones Industrial Average, Russell 2000 Index and Nasdaq-100 Index, maturing on February 15, 2029, in $1,000 denominations.

At maturity, if all three indices finish above their initial levels, investors receive 2.60x any gain in the worst-performing index, capped at a 72.50% maximum return (maximum payment $1,725 per $1,000). If any index is at or below its initial level but all remain at or above 70.00% of initial, investors receive only principal back.

If any index closes below 70.00% of its initial level on the observation date, repayment is fully exposed to the decline in the least performing index, with losses matching its negative return and the potential for total loss of principal. The notes pay no interest or dividends, are unsecured and unsubordinated, and any payment depends on the credit of JPMorgan Financial and JPMorgan Chase & Co. The indicative estimated value is $983.50 per $1,000, and will not be less than $900 when finalized, reflecting embedded fees, hedging costs and dealer compensation of up to $9.50 per $1,000.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes due August 7, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked to the MerQube US Large-Cap Vol Advantage Index, which itself uses leveraged exposure (up to 500%) to E-mini S&P 500 futures and is subject to a 6.0% per annum daily deduction that drags on index performance.

Investors may receive a Contingent Interest Payment on each monthly Review Date only if the Index closes at or above 70.00% of the Initial Value (the Interest Barrier). The notes are automatically called, starting August 4, 2027, if on certain Review Dates the Index is at or above the Initial Value, returning $1,000 plus the applicable interest and ending further payments. If the notes are not called and the Final Index Value is below the 60.00% Trigger Value, principal is reduced 1% for each 1% Index decline, with losses that can reach 100%.

The hypothetical Contingent Interest Rate is shown as 17.65% per annum (about 1.47083% per month), with a table illustrating total potential interest up to $882.50 per $1,000 note over the full term if all 60 payments are made. The minimum denomination is $1,000. If priced on the reference date, the estimated value would be about $926 per $1,000 note and will not be set below $900, reflecting selling commissions (up to $12.75 per $1,000) and hedging and structuring costs. Payments depend entirely on the Index path and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured Auto Callable Contingent Interest Notes maturing August 3, 2028, linked to the common stock of IBM. The notes pay a quarterly Contingent Interest Payment only if IBM’s closing price on a Review Date is at least 51.65% of the Initial Value, implying a Contingent Interest Rate of at least 14.00% per annum (at least $35 per $1,000 per quarter), with unpaid coupons accruing if later barriers are met.

The notes are automatically called on any Review Date other than the first and final when IBM closes at or above the Initial Value, starting February 1, 2027, returning $1,000 per note plus the applicable and any previously unpaid interest, with no further payments. If not called and IBM’s Final Value is at least the Trigger Value (also 51.65% of Initial Value), investors receive $1,000 plus final and accrued contingent interest at maturity. If the Final Value is below the Trigger Value, repayment is $1,000 + ($1,000 × Stock Return), so principal loss is 1% for each 1% decline from the Initial Value and can reach 100%.

The notes price at $1,000 denominations. Selling commissions are up to $17.50 and a structuring fee up to $1.00 per $1,000 note. The estimated value would be about $960 per $1,000 note if priced on the reference date and will not be less than $940, reflecting embedded costs and JPMorgan’s internal funding and valuation models. Payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co., and the notes are not FDIC insured.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index, a leveraged futures-based index subject to a 6.0% per annum daily deduction and up to 500% exposure to E‑Mini S&P 500 futures.

The notes have a minimum denomination of $1,000, a pricing date of August 13, 2026, quarterly review dates, a final review date of August 13, 2031 and mature on August 18, 2031. They pay a contingent interest rate of at least 10.90% per annum, or at least 2.725% per quarter, but only for quarters when the index closing level is at or above an interest barrier equal to 60.00% of the initial value; missed interest can be paid later if conditions are met.

The notes are automatically called on any review date from the fourth through the penultimate if the index is at or above its initial value, returning $1,000 plus applicable and unpaid contingent interest, after which no further payments occur. If not called, and the final index value is at or above the 60.00% trigger value, investors receive $1,000 plus applicable and unpaid contingent interest at maturity. If the final value is below the trigger, repayment is reduced linearly with the index return, so investors can lose more than 40.00% and up to all principal. The estimated value at pricing will not be less than $880 per $1,000, and all payments are subject to the credit risk of the issuer and guarantor.

JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co., in $1,000 minimum denominations and maturing on August 18, 2031. The notes pay a contingent interest rate of at least 10.90% per annum, credited quarterly, only if the Index on a Review Date is at or above 60.00% of the Initial Value; missed coupons can be paid later if the barrier is subsequently met.

The notes are auto-callable on specified Review Dates from August 13, 2027 onward if the Index is at or above its Initial Value, returning principal plus the due and any unpaid coupons. If held to maturity and the Final Value is below 60.00% of the Initial Value, repayment is reduced 1:1 with the Index loss, so investors can lose more than 40% and up to all principal. The underlying Index includes a 6.0% per annum daily deduction, which is a persistent drag on performance. The estimated value is about $891.10 per $1,000 note and will not be less than $880.00 per $1,000, reflecting selling costs and hedging. The notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. and are not bank deposits or FDIC insured.

JPMorgan Chase Financial Company LLC is offering auto callable structured notes linked to the J.P. Morgan Multi-Asset Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination and provides unsecured, unsubordinated exposure to the Index, subject to the credit risk of both issuer and guarantor.

The notes may be automatically called on any Review Date from August 4, 2027 through August 2, 2032 if the Index closing level is at or above 100% of its Initial Value. On an automatic call, investors receive $1,000 plus a fixed Call Premium Amount (at least 8.15% to 48.90% of principal, depending on the call year), and the notes terminate.

If the notes are not called, at maturity on August 4, 2033 investors receive full principal repayment plus an Additional Amount equal to $1,000 × Index Return × a 100% Participation Rate, with the Additional Amount floored at zero. The Index reflects a 1.00% per annum daily deduction and targets a 4% volatility threshold through dynamic allocation among futures-based equity, bond and commodity indices. The indicative estimated value is approximately $928.20 per $1,000 note and will not be less than $900.00 per $1,000 at pricing.

JPMorgan Chase Financial Company LLC is offering Digital Barrier 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. Each note has a $1,000 denomination, is expected to price on or about August 10, 2026, settle on or about August 13, 2026, and mature on September 15, 2027, with a single observation date on September 10, 2027.

At maturity, if the final level of each index is at least 71.00% of its initial level (the Barrier Amount), investors receive $1,000 plus a Contingent Digital Return of at least 8.77%, for a payment of at least $1,087.70 per $1,000 note, regardless of how far either index has risen above the barrier. If either index ends below its Barrier Amount, repayment is exposed to the Lesser Performing Index Return on a 1-for-1 basis, so investors lose more than 29.00% of principal and could lose their entire investment.

The notes pay no interest, provide no dividends, are unsecured and unsubordinated obligations of JPMorgan Financial, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The indicated estimated value, if priced on the date shown, would be approximately $991.20 per $1,000 note and will not be less than $900.00 per $1,000 when finalized, reflecting structuring and hedging costs. The notes will not be listed, and secondary market prices, if any, are expected to be below the $1,000 issue price.

JPMorgan Chase Financial Company LLC is offering $5,685,000 of unsecured, auto-callable structured notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay no interest or dividends.

The notes may be automatically called on any of 17 Review Dates starting August 2, 2027 if the Index is at or above the applicable Call Value. In that case, investors receive $1,000 plus a fixed Call Premium (from 18.00% to 90.00% of principal) and the investment ends. If never called and the Final Index Value is below the 50.00% Barrier, repayment is $1,000 plus $1,000 × Index Return, exposing investors to losses greater than 50% and up to 100% of principal.

The Index embeds a 6.0% per annum daily deduction and can use up to 500% futures leverage, which can materially drag performance and magnify losses. The notes are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The price to public is $1,000 per note, including $10 of fees and commissions, while the estimated value at pricing was $928.90, and the notes are expected to be illiquid and not exchange-listed.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering Digital Contingent Buffered Notes linked to the S&P 500^® Index. At maturity, each $1,000 note pays a fixed return if the index ending level is at or above the strike, or down by up to the 20.00% Contingent Buffer Amount. In that case, investors receive $1,000 + ($1,000 × Contingent Digital Return); the Contingent Digital Return will be at least 9.37%, implying a maximum payment of $1,093.70 per note.

If the index falls more than 20% from the strike, the payoff becomes linear to the downside, so investors lose 1% of principal for each 1% index decline and can lose their entire investment. Indicative estimated value is $987.90 per $1,000 note and will not be less than $970.00 when set, reflecting selling commissions, hedging costs and issuer profits. The notes are unsecured obligations, not bank deposits, not FDIC insured, and involve complex U.S. tax and Section 871(m) considerations highlighted in the tax discussion.

JPMorgan Chase Financial Company LLC is offering Callable Contingent Interest Notes linked to the Class A common stock of Palantir Technologies Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and may be redeemed early, in whole, at the issuer’s option on November 6, 2026.

Holders receive a Contingent Interest Payment on each monthly Review Date only if Palantir’s share price is at least 50.00% of the Initial Value, with a Contingent Interest Rate of at least 5.85% over the term (at least 0.975% per month. If the notes are not called and the Final Value is at or above the same 50.00% Trigger Value, investors receive principal plus the final Contingent Interest Payment; otherwise the payoff is $1,000 plus $1,000 times the stock return, exposing investors to losses beyond 50% and potentially a full loss of principal.

The notes are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. An estimated value of $981.20 per $1,000 note is provided for illustration, and the final estimated value at pricing will not be less than $950.00. The notes are not listed and may have limited or no secondary market liquidity.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering 60.5m Uncapped Accelerated Barrier Notes linked to the MerQube US Large-Cap Vol Advantage Index. The notes provide leveraged upside exposure at an Upside Leverage Factor of at least 3.00 to the Index’s performance.

The Index dynamically allocates between 0% and 500% notional exposure to E‑Mini S&P 500 futures and reflects a 6.0% per annum daily deduction. At maturity on September 17, 2031, if the Index is above its initial level, investors receive principal plus leveraged gains. If the Index is between the initial level and the 60.00% Barrier Amount, principal is returned.

If the Final Value is below the Barrier Amount, repayment is reduced one-for-one with the Index decline, and investors can lose more than 40.00% and up to all principal. The notes make no interest or dividend payments, are subject to the credit risk of the issuer and guarantor, and have an estimated value of not less than $850.00 per $1,000 principal amount when priced.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Uncapped Accelerated Barrier Notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing on September 17, 2031. The notes target at least 3.00x any positive Index return at maturity, with no upside cap.

The structure includes a Barrier Amount at 60.00% of the Initial Value. If the Final Index Value is at or above this barrier, principal is repaid; if it falls below, investors lose 1% of principal for every 1% Index decline, potentially losing the entire investment. The underlying Index applies a 6.0% per annum daily deduction, which drags on performance and can cause the Index to underperform comparable strategies without such a fee.

The notes pay no interest, provide no dividend exposure to S&P 500 constituents, and are unsecured, unsubordinated obligations of JPMorgan Financial, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. An indicative estimated value is $868.40 per $1,000 note, and will not be less than $850.00 at pricing.

JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated callable notes due August 3, 2033, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay quarterly interest at a variable rate based on the 10-year Constant Maturity Treasury (CMT) rate.

For each interest period, interest for each $1,000 note equals an annualized rate of at least 9.45% × N/ACT, where N is the number of days the 10‑year CMT rate is less than or equal to 5.25%, and ACT is total days in the period; days outside this range earn 0.00%. Beginning August 3, 2027, the issuer may redeem the notes quarterly at par plus accrued interest. The price to the public is $1,000 per note, with total selling and structuring compensation of $12.50 and proceeds to the issuer of $987.50 per note. The estimated value would be approximately $974.00 per $1,000 note if priced on the described date, and will not be less than $950.00 per $1,000 at pricing. The notes involve credit risk of both JPMorgan Financial and JPMorgan Chase & Co. and may have limited or no secondary market liquidity.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering Digital Buffered Notes linked to the S&P 500® Index. At maturity, if the S&P 500 ending level is at or above its initial level, or down by up to the 15.00% Buffer Amount, investors receive a fixed Contingent Digital Return of at least 12.15%, for a minimum payoff of $1,121.50 per $1,000 note. If the index falls by more than 15%, principal is reduced using a 1.17647 Downside Leverage Factor, so losses accelerate beyond the buffer and investors can lose all principal.

The hypothetical estimated value is $982.50 per $1,000 note, and will not be less than $970.00 at pricing, reflecting selling commissions, hedging costs and issuer funding assumptions. The notes are unsecured obligations, not bank deposits and not FDIC insured. U.S. tax treatment is expected to follow “prepaid financial contracts” open-transaction treatment, and the issuer expects Section 871(m) dividend-equivalent withholding not to apply to Non-U.S. Holders, though the IRS could take a different view.

JPMorgan Chase Financial Company LLC is offering structured notes linked to the least performing of the S&P 500® Index, Nasdaq-100 Index® and Russell 2000® Index, maturing on August 7, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes have a Participation Rate of at least 112.90%, so if all three indices end above their initial levels, investors receive $1,000 principal plus an Additional Amount equal to $1,000 × the return of the least performing index × the Participation Rate. If any index finishes at or below its initial level, only the $1,000 principal is paid at maturity, with no upside. The notes pay no interest or dividends, are unsecured and unsubordinated, and are subject to the credit risk of both the issuer and guarantor. The initial estimated value is about $977.40 per $1,000 note and will not be less than $940.00, reflecting embedded selling and hedging costs and the issuer’s internal funding rate. U.S. holders are expected to treat the notes as contingent payment debt instruments, accruing original issue discount annually for tax purposes.

JPMorgan Chase Financial Company LLC is offering structured Auto Callable Accelerated Barrier Notes linked to the least performing of Microsoft, Amazon.com, Broadcom and Alphabet Class A, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a scheduled maturity on August 9, 2028, minimum denominations of $1,000, and may be automatically called as early as November 4, 2026 if each stock is at or above its Call Value, paying principal plus a Call Premium Amount of at least $680 per $1,000.

If not called and each stock’s Final Value exceeds its Initial Value, investors receive principal plus 3.00× the gain of the least performing stock. If any stock finishes at or below its Initial Value but all remain at or above 70.00% of Initial Value (the Barrier Amount), principal is returned. If any stock’s Final Value is below its Barrier Amount, repayment is reduced 1% for each 1% decline of the least performing stock and investors can lose up to 100% of principal. The notes pay no interest or dividends, are unsecured and unsubordinated, are not listed on any exchange and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The estimated value is about $960 per $1,000 at pricing and will not be less than $940, reflecting embedded costs.

JPMorgan Chase Financial Company LLC updates the terms of its Uncapped Buffered Return Enhanced Notes linked to the lesser performing of the Dow Jones Industrial Average and the Invesco S&P 500 Equal Weight ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are scheduled to mature on June 27, 2030.

This amendment clarifies that the Strike Value for each underlying is the closing value on the Strike Date, specifically 51,666.84 for the Dow Jones Industrial Average and $208.89 for the Invesco S&P 500 Equal Weight ETF, and not their closing values on the pricing date. The notes are unsecured structured investments, are not bank deposits, and are not insured by the FDIC or any governmental agency.

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. The notes mature on August 5, 2032 and are issued in minimum denominations of $1,000.

At maturity, if the Final Value of each Index is at least its Initial Value, investors receive $1,000 plus a fixed Contingent Digital Return of at least 83.20%. If either Index finishes below its Initial Value but both remain at or above a Barrier Amount of 75.00% of Initial Value, principal is returned. If the Final Value of either Index is below its Barrier Amount, repayment is reduced by the Lesser Performing Index Return, potentially to zero.

The notes pay no interest, provide no dividends, are unsecured and unsubordinated, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. An indicative estimated value is $981.00 per $1,000 note, and the final estimated value will not be less than $900.00 per $1,000. Secondary market liquidity is not assured and any sale before maturity may result in a substantial loss.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Digital Buffered Notes linked to the S&P 500 Index. For each $1,000 note, if the S&P 500 ending level is at or above the initial level, or down by up to the 15.00% Buffer Amount, investors receive a fixed Contingent Digital Return of at least 8.02%, for a payment of $1,080.20 assuming an 8.02% rate.

If the index falls by more than 15.00%, repayment of principal decreases at a Downside Leverage Factor of 1.17647, so losses exceed index losses beyond the buffer and can reach 100% of principal. The hypothetical estimated value is $987.90 per $1,000, and will not be less than $970.00 per $1,000 when set, reflecting selling commissions, hedging costs and issuer funding assumptions. The notes price on or about July 31, 2026, are expected to settle on or about August 5, 2026, value the index on August 13, 2027, and mature on August 18, 2027. The product entails market risk, limited upside, potential loss of principal and tax complexity, including treatment as an open transaction and potential implications of Section 871(m) for non‑U.S. holders.

JPMorgan Chase Financial Company LLC is offering Callable Contingent Interest Notes linked to the common stock of American Airlines Group Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent interest rate of at least 15.00% per annum (at least $12.50 per $1,000 note monthly) on any Review Date when the stock’s closing price is at or above 40.00% of the Initial Value, with unpaid coupons potentially paid later if the barrier is met.

The notes may be redeemed early at the issuer’s option on specified Interest Payment Dates starting February 4, 2027. If held to maturity on August 3, 2028 and the final stock price is below 40.00% of the Initial Value, investors lose 1% of principal for each 1% stock decline, potentially losing more than 60% or all principal. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated value is approximately $960.00 per $1,000 note on the trade date and will not be less than $940.00.

JPMorgan Chase Financial Company LLC is offering Auto Callable Digital Barrier Notes due August 2, 2029, linked to the least performing of the S&P 500, Russell 2000 and Nasdaq‑100 indices, and fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes may be automatically called on August 5, 2027 if each index is at or above its Call Value (100% of its Initial Value), paying $1,000 plus a Call Premium of at least $120 per $1,000 note. If not called and each Final Value is at least its Initial Value, investors receive $1,000 plus the greater of the 65.00% Contingent Digital Return or the least performing index return. If any index finishes below its Initial Value but all remain at or above 70.00% barrier, principal is returned. If any index ends below its barrier, payoff is $1,000 plus the least performing index return, creating the risk of losing more than 30% and up to all principal.

The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and are not listed, so liquidity may be limited. The indicative estimated value is about $964.50 per $1,000 note, and will not be less than $900.00 at pricing, reflecting embedded selling, structuring and hedging costs.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured Auto Callable Contingent Interest Notes linked to the common stock of United Rentals, Inc. (URI), maturing August 3, 2028. The notes pay a Contingent Interest Rate of at least 12.50% per annum, or at least $31.25 per $1,000 per quarter, only for Review Dates when URI’s closing price is at or above 60.00% of the Initial Value, which also serves as the Trigger Value. Missed interest can be paid later if this condition is subsequently met.

The notes are auto callable on any Review Date from February 1, 2027 (excluding the first and final Review Dates) if URI’s price is at or above the Initial Value, returning $1,000 plus the due and unpaid contingent interest. If not called and the Final Value is at or above the Trigger Value, holders receive $1,000 plus all applicable contingent interest. If the Final Value is below the Trigger Value, repayment is $1,000 plus $1,000 × Stock Return, so investors can lose more than 40% and up to all principal. The notes are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., are not FDIC insured, and are expected to be sold in $1,000 minimum denominations. An indicative estimated value is approximately $960.00 per $1,000 note and will not be less than $940.00, reflecting embedded fees and hedging costs.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing Capped Buffer GEARS, two-year structured notes linked to an unequally weighted basket of five equity indices (EURO STOXX 50, Nikkei 225, FTSE 100, Swiss Market Index, S&P/ASX 200). Each Security has a $10 principal amount, with a minimum investment of $1,000.

The notes offer 2.00x Upside Gearing on positive basket performance, capped by a Maximum Gain between 24.05% and 26.05%, and a 15% Buffer via a Downside Threshold at 85% of the initial basket value. Below this threshold, principal is reduced 1% for each 1% basket decline beyond the buffer, so holders may lose up to 85% of principal. Price to public is $10.00, including up to $0.20 in selling commissions; proceeds to the issuer are $9.80 per Security. The estimated value is about $9.72 per $10 (and will not be less than $9.40), reflecting embedded structuring and hedging costs. All payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co., and the U.S. tax treatment is based on treating the notes as prepaid financial contracts.

JPMorgan Chase Financial Company LLC is offering structured notes linked to the S&P 500® Futures Excess Return Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are scheduled to price on or about August 7, 2026 and mature on August 12, 2031, with a single observation date on August 7, 2031.

At maturity, investors receive full repayment of the $1,000 principal per note plus an Additional Amount, if any, equal to $1,000 × Index Return × a Participation Rate of at least 155.00%. If the Index is flat or down over the term, only principal is repaid and no interest is ever paid, so there is no compensation for inflation or time value.

The notes are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., will not be listed on an exchange, and may have limited liquidity. The estimated value, if priced on the date shown, would be about $977.90 per $1,000, and when set will not be less than $900.00 per $1,000, reflecting selling commissions and hedging costs. The product is offered under a Commodity Exchange Act hybrid instrument exemption and is expected to be treated as a contingent payment debt instrument for U.S. federal income tax purposes.

JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes linked to the common stock of Cadence Design Systems, Inc. (CDNS), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a scheduled maturity date of September 3, 2027, with pricing expected on or about July 31, 2026 and settlement on or about August 5, 2026, in minimum denominations of $1,000.

Holders may receive a Contingent Interest Payment on each Review Date if CDNS closes at or above the Interest Barrier, set at 55.00% of the Initial Value11.00% per annum (about 0.91667% per month). The notes are automatically called, beginning with the February 1, 2027 Review Date, if CDNS closes at or above the Initial Value, paying $1,000 plus the applicable Contingent Interest and then terminating.

If not called and the Final Value is at or above the Trigger Value (also 55.00% of the Initial Value), investors receive $1,000 plus the final Contingent Interest. If the Final Value is below the Trigger Value, payoff is $1,000 + ($1,000 × Stock Return), so investors lose 1% of principal for each 1% CDNS has declined, potentially losing their entire investment. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. An indicative estimated value is about $946.20 per $1,000 note, and the final estimated value will not be less than $900.00 per $1,000.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the common stock of Cadence Design Systems, Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Payment of at least $11.0417 per $1,000 (a rate of at least 13.25% per annum, 1.10417% per month) on each monthly Review Date if Cadence’s share price is at or above 55.00% of the Initial Value, called the Interest Barrier.

The notes may be automatically called on specified Review Dates starting February 1, 2027 if the stock closes at or above the Initial Value, returning $1,000 plus the applicable Contingent Interest Payment, with no further payments. If not called and the Final Value on the last Review Date is at or above the 55.00% Trigger Value, investors receive $1,000 plus the final Contingent Interest Payment at maturity on September 3, 2027. If the Final Value is below the Trigger Value, repayment is reduced one-for-one with the stock decline, so investors will lose more than 45.00% and could lose their entire principal.

The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial, subject to the credit risk of both the issuer and JPMorgan Chase & Co. If priced on the reference date in the document, the estimated value would be approximately $960.60 per $1,000 note, and the final estimated value, once set, will not be less than $900.00.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering callable variable-rate notes linked to the 10-Year Constant Maturity Treasury Rate, maturing on July 29, 2031. Each note has a $1,000 principal amount and pays quarterly interest in arrears.

The annualized Interest Rate for each period equals the 6.00% Interest Factor multiplied by N/ACT, where N is the number of days in the period when the Reference Rate is less than or equal to the Reference Rate Barrier (at least 6.05%) and ACT is total days in the period; on days the rate exceeds the barrier, interest accrues at 0.00%. The issuer may redeem the notes in whole on the 29th of January, April, July and October from July 29, 2027 through April 29, 2031 at par plus accrued interest.

At maturity, if not previously called, holders receive principal plus accrued interest. The price to the public is $1,000 per note, with selling commissions not exceeding $15.00 per $1,000. If priced on the indicated date, the estimated value would be about $972.20 per $1,000, and will not be less than $960.00, reflecting internal funding and hedging costs. The notes are unsecured, not bank deposits, and are not FDIC insured. The tax treatment is uncertain and may follow either variable rate or contingent payment debt instrument rules.

JPMorgan Chase Financial Company LLC is offering Medium-Term Notes, Series A, Digital Equity Notes due January 21, 2028, linked to the EURO STOXX 50® Index and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay no interest and are not listed on any exchange.

At maturity, for each $1,000 note, investors receive a cash amount based on index performance from the trade date to January 19, 2028. If the final index level is at or above 87.50% of the initial level, payment is the threshold settlement amount, expected between $1,127.00 and $1,149.40, capping upside around the cap level (expected 112.70%–114.94% of the initial level. If the index falls more than the 12.50% buffer, principal is lost on a leveraged basis at approximately 1.1429% for each additional 1% decline; investors can lose their entire investment.

The original issue price is 100% of principal, with no underwriting commission and net proceeds of 100% to the issuer. The estimated value is expected between $977.50 and $987.50 per $1,000, reflecting structuring and hedging costs, and secondary market prices are expected to be lower than the issue price. Payments are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and the U.S. tax treatment is uncertain, with the notes reasonably treated as prepaid financial contracts that are "open transactions" for U.S. federal income tax purposes.

JPMorgan Chase Financial Company LLC is offering structured Review 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 scheduled Review Dates starting August 3, 2027 if the Index closing level is at or above the Call Value of 87.00% of the Initial Value, paying back $1,000 plus a Call Premium.

Minimum Call Premiums range from 15.00% of principal on the first Review Date up to 75.00% on the final Review Date. If not called and the Final Value is at or above the Barrier Amount of 60.00% of the Initial Value, investors receive principal at maturity on August 5, 2031. If the Final Value is below the Barrier Amount, repayment equals $1,000 plus $1,000 multiplied by the Index Return, so investors can lose more than 40% and up to all principal.

The Index is a rules-based strategy referencing E-mini S&P 500 futures with a 35% target volatility, variable futures exposure between 0% and 500%, and a 6.0% per annum daily deduction, which drags on performance. If priced today, the estimated value would be about $910 per $1,000 note, and will not be less than $900 when set. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and are not bank deposits or FDIC insured.

JPMorgan Chase Financial Company LLC is offering Medium-Term Notes, Series A, called Digital Buffered Equity Notes due 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and is linked to an unequally weighted basket of five equity indices: EURO STOXX 50® (40%), TOPIX® (25%), FTSE® 100 (17%), Swiss Market Index (11%) and S&P/ASX 200 (7%). The notes pay no interest and are not listed on any exchange.

The initial basket level is 100. If the final basket level on January 24, 2028 is at least 90% of the initial level, investors receive a fixed threshold settlement amount expected between $1,114.70 and $1,134.60 per $1,000, corresponding to a capped positive return. If the basket falls more than 10%, principal is lost on a leveraged basis: roughly 1.1111% of principal lost for each 1% decline beyond the 10% buffer, down to a possible total loss.

The estimated value at pricing is expected between $967.40 and $977.40 per $1,000, below the 100% issue price, reflecting selling commissions (up to 1.51% of principal) and hedging and structuring costs. Any payment is subject to the credit risk of JPMorgan Financial as issuer and JPMorgan Chase & Co. as guarantor. The notes involve complex tax treatment and are expected to be treated as open prepaid financial contracts for U.S. federal income tax purposes.

JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes due August 2, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked separately to the State Street Health Care Select Sector SPDR ETF (XLV), the State Street Financial Select Sector SPDR ETF (XLF) and the iShares Silver Trust (SLV); the least performing fund determines principal repayment.

Holders receive a Contingent Interest Payment of at least $11.00 per $1,000 (13.20% per annum, 1.10% per month) on each Review Date only if the closing price of one share of each fund is at or above its Interest Barrier of 50.00% of its Initial Value. Missed coupons can be paid later if this condition is met on a subsequent Review Date. Starting January 29, 2027, the notes are automatically called on certain Review Dates if each fund is at or above its Initial Value, paying $1,000 plus due and unpaid contingent interest.

If not called and on the final Review Date every fund is at or above its Trigger Value of 50.00% of Initial Value, investors receive $1,000 plus final and any unpaid contingent interest. If any fund finishes below its Trigger Value, the maturity payment is $1,000 plus $1,000 × Least Performing Fund Return, so principal loss exceeds 50% and may reach 100%. The notes are unsecured, not FDIC insured, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., limited liquidity, sector and commodity volatility, potential early acceleration, and an estimated value per $1,000 note that would be about $957.60 today and not less than $920.00 when finally set.

JPMorgan Chase Financial Company LLC is offering Uncapped Dual Directional Digital Barrier Notes linked to the lesser performing of the S&P 500 Index and the Russell 2000 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price on or about July 31, 2026 and mature on August 5, 2031.

At maturity, if each index is at or above its initial level, investors receive principal plus the greater of a Contingent Digital Return of at least 46.50% or the lesser-performing index return. If either index is below its initial level but both remain at or above 75.00% of initial (the Barrier Amount), investors receive principal plus the absolute return of the lesser-performing index, effectively capped at a 25.00% gain. If either index finishes below its barrier, repayment is principal reduced one-for-one by the loss of the lesser-performing index, with the potential for a full loss of principal.

The minimum denomination is $1,000. If priced on the reference date, the estimated value would be about $940 per $1,000 note and will not be less than $900 at pricing. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not be listed, so liquidity may be limited.

JPMorgan Chase Financial Company LLC is offering Uncapped Accelerated Barrier Notes linked to the Invesco S&P 500® Equal Weight ETF (RSP), fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount, minimum denomination $1,000, and is expected to price on or about July 23, 2026 and settle on or about July 28, 2026, maturing on July 28, 2031.

At maturity, if the ETF’s closing price is above its initial level, the holder receives $1,000 plus the fund’s gain multiplied by an Upside Leverage Factor of at least 1.1125, with no cap. If the final value is at or above the Barrier Amount of 75.00% of the Initial Value, principal is returned. If the final value is below the barrier, repayment is $1,000 plus $1,000 times the fund return, leading to losses greater than 25% and potentially a total loss of principal.

The notes pay no interest or dividends and are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. Estimated value, if priced on the described date, would be approximately $960 per $1,000 note and will not be less than $940, reflecting selling commissions of up to $22.50 and a structuring fee of up to $2.00 per $1,000 note, plus hedging-related costs. The notes are not bank deposits, are not FDIC insured, will not be listed on any exchange, and may be accelerated if the ETF is delisted, liquidated or terminated.

JPMorgan Chase Financial Company LLC is offering Capped Dual Directional Buffered Return Enhanced Notes linked to the Class A common stock of CrowdStrike Holdings, Inc. The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., and are scheduled to mature on January 22, 2027. The notes have minimum denominations of $1,000 and pay no interest or dividends.

At maturity, if CrowdStrike’s stock has risen from the Strike Value of $203.08, investors receive $1,000 plus 3.00× the stock gain, capped at a Maximum Upside Return of at least 24.75% (at least $1,247.50 per $1,000 note). If the stock is flat or down by up to the 15.00% Buffer Amount, investors earn the stock’s move in absolute value, up to a 15% positive return. If the stock declines by more than 15%, principal is reduced 1% for each additional 1% drop, with losses of up to 85.00% of principal. The issuer estimates the note’s value at approximately $989.10 per $1,000 at launch and states it will not be less than $970.00, and highlights credit risk of both JPMorgan Chase Financial and JPMorgan Chase & Co. along with limited liquidity and potential conflicts of interest.