Alerian MLP Index ETNs due January 28 2044 (AMJB) 424B Filings

JPMorgan Chase Financial Company LLC is issuing $1,906,000 of Auto Callable Yield Notes linked to the common stock of Eli Lilly and Company, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay interest of 12.50% per annum, credited at 1.04167% per month, as long as they have not been automatically called.

The notes may be automatically called on scheduled review dates starting July 21, 2026 if Eli Lilly’s share price is at or above the initial value of $1,078.52, in which case investors receive $1,000 per note plus the applicable interest and no further payments. If held to the February 25, 2027 maturity and the final share price is at or above 70% of the initial value, investors receive full principal plus the final interest payment.

If the final price falls below 70% of the initial value, repayment of principal is reduced dollar-for-dollar with the stock’s decline, and investors can lose more than 30% and up to all of their principal. The estimated value at pricing was $984.90 per $1,000 note, and the notes are unsecured, unlisted obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is offering S&P 500®-linked digital buffered notes that pay a fixed 8.70% return at maturity per $1,000 note if the S&P 500 ending level is at or above the strike of 6,796.86, or down by up to 10% from that level.

If the index falls by more than 10%, investors lose 1.11111% of principal for each additional 1% decline, which can result in a substantial or total loss of principal. The notes, guaranteed by JPMorgan Chase & Co., mature on February 25, 2027, pay no interest or dividends, are not listed on an exchange, and have an estimated value of $988.20 per $1,000, below the $1,000 issue price due to selling, structuring and hedging costs.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the common stock of Marvell Technology, Inc. (MRVL), fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination and a term to January 27, 2028.

The notes pay a contingent quarterly coupon of at least $35.00 per $1,000 (at least 14.00% per annum) only if on a Review Date the Marvell share price is at or above the Interest Barrier, set at 45.00% of the Strike Value of $83.10. Missed coupons can be paid later if the barrier is met on a future Review Date.

The notes are auto callable on specified Review Dates starting July 22, 2026 if the share price is at or above the Strike Value, in which case investors receive $1,000 plus due and unpaid contingent interest and the notes terminate. At maturity, if not called and the final share price is at or above the Trigger Value (also 45.00% of the Strike Value), investors receive $1,000 plus any due contingent interest. If the final price is below the Trigger Value, repayment is reduced one-for-one with the stock decline from the Strike Value, and investors may lose more than 55% or all of principal. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not bank deposits, and will not be listed on an exchange.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering medium-term Digital Equity Notes due July 23, 2032 linked to the S&P 500® Index. Each note has a $1,000 principal amount and does not pay interest. At maturity, if the S&P 500® final level is at least 85.00% of its initial level, holders receive a fixed "threshold settlement amount," expected between $1,497.50 and $1,583.70 per $1,000 note, capping upside.

If the index has fallen more than 15.00%, repayment is reduced one-for-one with the index decline, and investors can lose up to their entire principal. The preliminary estimated value is expected between $927.10 and $937.10 per $1,000, below the 100% issue price due to selling commissions of up to 5.00%, hedging costs and dealer profits. The notes are unsecured obligations of JPMorgan Financial, guaranteed by JPMorgan Chase & Co., will not be listed, have no issuer redemption feature and carry complex tax and credit risks.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $2,313,000 of Review Notes linked to the MerQube US Large-Cap Vol Advantage Index, in $1,000 minimum denominations. The notes may be automatically called as early as January 25, 2027 if the Index is at or above the Call Value.

On an automatic call, investors receive $1,000 plus a call premium that starts at 22.500% and can reach 90.000% by the final review date. If the notes are not called and the Index closes below the Initial Value by more than the 30% buffer at maturity, repayment is reduced using a 1.42857 downside leverage factor, so some or all principal can be lost.

The Index itself includes a 6.0% per annum daily deduction, which drags performance relative to a similar index without this charge and influences the note’s economics. The estimated value was $940.60 per $1,000 note when priced, reflecting structuring and hedging costs embedded in the $1,000 price to public.

JPMorgan Chase Financial Company LLC is issuing $1,828,000 of Auto Callable Accelerated Barrier Notes linked to the worst performer among Bloom Energy, Hecla Mining and Seagate Technology shares, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are unsecured, unsubordinated obligations and do not pay interest or dividends.

The notes may be automatically called as early as April 21, 2026 if each stock is at or above 70% of its initial value, paying $1,330 per $1,000 note. If not called, investors receive 2x the gain of the least performing stock at maturity, but if any stock finishes below 60% of its initial value, principal is reduced one-for-one with that loss, potentially to zero. The estimated value at pricing was $878.20 per $1,000 note, below the issue price.

JPMorgan Chase Financial Company LLC is offering medium-term “digital” notes due February 3, 2028, linked to the iShares 20+ Year Treasury Bond ETF (TLT). Each note has a $1,000 principal amount and pays no interest; your result depends entirely on the ETF’s price on the February 1, 2028 determination date versus its initial level of $87.31.

If the ETF’s final level is at least 90% of the initial level, you receive a fixed threshold settlement amount expected to be at least $1,148 per $1,000 note, capping your upside even if the ETF rises substantially. If the ETF falls by more than 10%, your loss is leveraged at about 1.1111% of principal for each additional 1% decline, so you can lose your entire investment.

The notes are unsecured obligations of JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., and are subject to both entities’ credit risk. They will not be listed on an exchange, may have limited liquidity, and have an estimated value at pricing expected between $964.90 and $974.90 per $1,000, reflecting selling commissions, hedging costs and dealer profits. The filing highlights complex U.S. tax and potential Section 871(m) considerations and notes conflicts of interest from JPMorgan’s roles in issuing, hedging and valuing the notes.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $5,020,000 of Auto Callable Dual Directional Accelerated Barrier Notes linked to the least performing of the Dow Jones Industrial Average, Nasdaq-100 and Russell 2000, maturing on January 25, 2029.

The notes may be automatically called on January 27, 2027 if each index is at or above 100% of its initial level, paying $1,178.50 per $1,000 note (principal plus a $178.50 call premium) and then terminating. If not called and each final index level is above its initial level, investors receive at maturity $1,000 plus 1.50 times the gain of the worst-performing index.

If any index finishes at or below its initial level but all remain at or above 70% of initial, the maturity payment is $1,000 plus the absolute percentage move of the worst index, capped at a 30% gain ($1,300 per $1,000 note). If any index ends below 70% of its initial level, repayment of principal falls one-for-one with the worst index’s loss, and investors can lose most or all of their investment.

The notes pay no interest or dividends, are unsecured and unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., will not be listed on an exchange and may have limited liquidity. The price to public is $1,000 per note, including $9 in selling commissions, while the estimated value at pricing was $974.80 per $1,000.

JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated callable contingent interest notes linked separately to the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, fully guaranteed by JPMorgan Chase & Co. The notes run to January 4, 2028, with minimum denominations of $1,000, and can be redeemed early at the issuer’s option on specified interest payment dates starting May 5, 2026.

Holders receive a contingent monthly interest payment only when the closing level of each index on a review date is at least 70% of its initial value; otherwise no interest is paid for that period. If the notes are not called and any index finishes below 70% of its initial value at maturity, repayment of principal is reduced one-for-one with the decline of the worst-performing index, up to a total loss. A hypothetical contingent interest rate of 10.70% per year is illustrated, and the estimated value is shown at approximately $976 per $1,000 note, reflecting embedded costs and hedging.

JPMorgan Chase Financial Company LLC is offering $854,000 of auto callable buffered equity notes linked to the S&P 500, Russell 2000 and Nasdaq-100, due January 24, 2031, fully guaranteed by JPMorgan Chase & Co. The notes may be automatically called on annual review dates starting January 22, 2027 if each index is at or above its initial level, paying $1,000 plus an 8%–32% call premium per $1,000 note. If held to maturity and all indices are above their initial levels, investors receive uncapped exposure to the worst-performing index. A 25% buffer protects principal against moderate declines, but if any index falls more than 25%, principal is reduced one-for-one, up to a 75% loss. The notes pay no interest or dividends, are unsecured, and priced at $1,000 with a $40 selling commission and an estimated value of $940.70 per $1,000 note.

JPMorgan Chase Financial Company LLC is offering $808,000 of auto callable contingent interest notes linked to the worst performer of the Nasdaq-100® Technology Sector, the SPDR® S&P® Regional Banking ETF and the Consumer Discretionary Select Sector SPDR® ETF, fully guaranteed by JPMorgan Chase & Co.

The notes pay a contingent coupon at an annual rate of 8.75% (0.72917% per month) only when, on a review date, each underlying is at or above 70% of its initial value. Missed coupons can be paid later if the condition is met. From July 21, 2026 onward, the notes are automatically called if each underlying is at or above its initial value, returning $1,000 per note plus due coupons.

If not called, and on the final review date any underlying is below its 60% trigger value, repayment is reduced one-for-one with the decline of the worst underlying, up to total loss of principal. The estimated value is $945.80 per $1,000 note, reflecting fees and hedging costs; the notes are unsecured, not FDIC insured, and may be illiquid.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured Review Notes linked to the MerQube US Tech+ Vol Advantage Index, maturing on February 4, 2031, with potential automatic calls starting on February 3, 2027.

The notes can be automatically called on scheduled Review Dates if the Index is at or above the Call Value, paying back principal plus a Call Premium Amount of at least 23%–115% of principal, depending on the call date. If held to maturity and not called, a 15% buffer protects against moderate Index declines, but investors can lose up to 85% of principal if losses exceed that buffer.

The Index embeds a 6.0% per annum daily deduction and a daily notional financing cost on the QQQ Fund exposure, which drag on performance and magnify downside, especially when combined with leverage up to 500%. The preliminary estimated value is about $909.10 per $1,000 note, and will not be less than $900.00 per $1,000 at pricing. The notes pay no interest, are not listed, and expose holders to the credit risk of both the issuer and guarantor.

JPMorgan Chase Financial Company LLC is offering auto callable yield notes linked to the common stock of Advanced Micro Devices, Inc. (AMD), guaranteed by JPMorgan Chase & Co. The notes target a higher yield than conventional debt, paying at least 11.35% per annum, or at least 2.8375% per quarter, as long as they are not automatically called.

The notes may be automatically called on quarterly review dates starting April 22, 2026 if AMD’s closing price is at or above the Strike Value of $253.73. If called, investors receive $1,000 per note plus the applicable interest payment and no further payments.

If not called, and AMD’s final price on the last review date is at or above the Trigger Value of $126.865 (50% of the Strike Value), investors receive $1,000 plus the final interest payment. If the final price is below the Trigger Value, repayment of principal is reduced one-for-one with AMD’s decline from the Strike Value, leading to losses greater than 50% and potentially a total loss of principal.

The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., and are subject to both entities’ credit risk. They will not be listed on an exchange, may be hard to sell, and have an estimated value initially below the $1,000 issue price, reflecting selling commissions, hedging costs and issuer funding assumptions.

JPMorgan Chase Financial Company LLC is offering unsecured, auto-callable review notes linked to the MerQube US Tech+ Vol Advantage Index, guaranteed by JPMorgan Chase & Co., maturing on February 4, 2031, in minimum denominations of $1,000.

The notes can be automatically called as early as February 3, 2027 if the Index is at or above the Call Value, paying $1,000 plus a call premium starting at 18.50% of principal and rising up to 92.50% on later Review Dates.

If not called, principal is protected only by a 15.00% buffer; if the Index falls more than this, holders lose 1% of principal for each 1% decline beyond the buffer, up to an 85.00% loss at maturity. The Index includes a 6.0% per annum daily deduction and a notional financing cost, which drag on performance.

The notes pay no interest or dividends, are not bank deposits or FDIC insured, and carry the credit risk of JPMorgan Financial and JPMorgan Chase & Co. If priced on the indicated date, the estimated value would be about $905.10 per $1,000, and will not be less than $900.00 per $1,000 when set, reflecting structuring, hedging costs and dealer compensation.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the lesser performing of Netflix and Disney common stock, maturing in January 2029 and fully guaranteed by JPMorgan Chase & Co.

Investors receive contingent quarterly interest only if each stock stays at or above 50% of its strike value; missed coupons can be paid later if conditions are met. The notes auto-call early if both stocks are at or above their strike values on a review date, returning principal plus applicable interest. If held to maturity without auto-call and either stock finishes below its trigger (also 50% of strike), repayment is reduced in line with the loss on the weaker stock, and principal could be fully lost. The minimum denomination is $1,000, the contingent interest rate will be at least 10.00% per year, and an indicative estimated value is about $967.40 per $1,000 note, not less than $940.00 when finalized. The notes are unsecured, subject to JPMorgan Financial and JPMorgan Chase & Co. credit risk, pay no dividends, are not exchange-listed and may have limited liquidity.

JPMorgan Chase Financial Company LLC is offering auto callable yield notes linked to the lesser-performing shares of Palantir Technologies Inc. Class A and Apple Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay interest at 15.90% per annum, credited as 1.325% per month, on minimum denominations of $1,000.

The notes may be automatically called if, on any non-final review date, the closing price of one share of each reference stock is at or above its Initial Value, returning $1,000 plus the applicable interest payment. If not called and, on the final review date, the Final Value of each stock is at or above 50.00% of its Initial Value (the Trigger Value), investors receive $1,000 plus the final interest payment. If either stock finishes below its Trigger Value, maturity payment is reduced by the Lesser Performing Stock Return, and investors can lose more than half or all of their principal.

The total offering size is $1,348,000, priced at $1,000 per note, with selling commissions of $9 per $1,000 and proceeds to the issuer of $991 per note. The estimated value was $982.00 per $1,000 note when terms were set. The notes are unsecured, not bank deposits, not FDIC-insured, and their value and payments are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., as well as market performance and limited liquidity.

JPMorgan Financial is offering auto callable contingent interest notes due February 1, 2029, fully guaranteed by JPMorgan Chase & Co. The notes are linked individually to the Nasdaq-100® Technology Sector, the Russell 2000® Index and the State Street® Utilities Select Sector SPDR® ETF, not to a basket.

Investors may receive monthly contingent interest at a rate of at least 9.20% per annum if, on a Review Date, the closing value of each underlying is at or above 70% of its Initial Value. Starting with the sixth Review Date, the notes are automatically called if each underlying closes at or above its Initial Value, paying back $1,000 per note plus that period’s interest.

If the notes are not called and, on the final Review Date, the worst-performing underlying is at or above its 70% Trigger Value, investors receive full principal plus the final contingent interest. If the worst-performing underlying finishes below its Trigger Value, repayment is reduced one-for-one with its decline, and investors can lose a substantial portion or all of their principal. A preliminary estimated value is $958.40 per $1,000 (not less than $900 at pricing), reflecting embedded fees and hedging costs. The notes are unsecured, subject to the credit risk of both issuers, offer no dividends, may be illiquid, and involve complex tax and sector-specific risks.

JPMorgan Chase Financial Company LLC is offering $647,000 of Uncapped Digital Notes linked to the S&P 500® Futures Excess Return Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes provide uncapped, unleveraged exposure to index gains at maturity, with a contingent digital return of 57.00% and a digital barrier at 90.00% of the initial index level of 558.74. If the final index value is at or above the initial value, investors receive the greater of the 57.00% contingent digital return or the index return; if it is below the initial value but at or above the barrier, the return equals 57.00% plus the index return. If the final value falls below the barrier, principal is reduced one-for-one with the index loss, and investors can lose most or all of their investment. The notes pay no interest, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and are expected to mature on January 24, 2031.

JPMorgan Chase Financial Company LLC is issuing $1,525,000 of auto callable contingent interest notes linked to the Class A common stock of Palantir Technologies Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes pay a contingent coupon of $45 per $1,000 (an 18.00% annual rate, 4.50% per quarter) only on review dates when Palantir’s share price is at or above 50.00% of the initial value of $165.33, meaning coupons can be skipped entirely if the stock trades below this barrier.

The notes may be automatically called on any non-final review date starting April 21, 2026 if Palantir’s share price is at or above the initial value, in which case investors receive $1,000 plus the applicable contingent interest and no further payments. If not called and the final share price is below the 50.00% trigger, repayment at maturity is reduced in line with the stock’s decline, and investors can lose more than 50.00% and up to all of their principal.

The price to the public is $1,000 per note, including $22.25 in fees and commissions, for net proceeds of $977.75 per note to the issuer, while the issuer’s estimated value is $961.00, reflecting embedded costs, hedging and funding assumptions, and creating a meaningful gap between issue price and model 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 offer no dividends or shareholder rights in Palantir.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable buffered return enhanced notes linked to the common stock of Broadcom Inc. The notes are issued in minimum denominations of $10,000 and are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan entities.

The notes may be automatically called on February 4, 2027 if Broadcom’s share price is at or above the stock strike price, paying $1,000 per note plus a call premium of at least 34.03% on February 9, 2027. If not called, at maturity on January 27, 2028 investors receive leveraged upside of at least 1.50 times any positive stock return, with no cap.

The structure includes a 15.00% downside buffer: if the final stock price is at or above 85% of the strike, principal is returned. Below that level, losses are magnified at 1.17647% for every 1% drop beyond the 15.00% buffer, so investors can lose some or all principal. The preliminary estimated value is approximately $979.70 per $1,000 note and will not be less than $960.00 when finalized, reflecting selling commissions, hedging costs and issuer funding considerations.

JPMorgan Chase Financial Company LLC is offering callable contingent interest notes due February 1, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent interest rate of at least 8.35% per annum, but interest is only paid for a Review Date if the Russell 2000 Index, S&P 500 Index and VanEck Gold Miners ETF each close at or above 70% of their Initial Value, with missed coupons potentially paid later when conditions are met.

At maturity, if the notes have not been called and the least performing underlying is at or above 50% of its Initial Value (the Trigger Value), investors receive full principal plus any due contingent interest; if it is below 50%, principal is reduced one‑for‑one with the underlying’s loss, up to total loss. The issuer may redeem the notes early, in whole, on specified dates starting around July 30, 2026, paying $1,000 per note plus applicable interest. The estimated value is indicated around $947.60 per $1,000 (and not less than $900) due to embedded fees, funding and hedging costs, and the notes are unsecured, unlisted, and 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 issuing $13,702,000 of Capped Buffered Enhanced Participation Basket-Linked Notes due April 23, 2027.

The notes are linked to an unequally weighted equity index basket: EURO STOXX 50® (38%), TOPIX® (26%), FTSE® 100 (17%), Swiss Market Index (11%) and S&P/ASX 200 (8%). The initial basket level is 100, with a 1.50x upside participation rate, a cap level of 113.60% and a maximum settlement amount of $1,204 per $1,000 note.

The structure includes a 10% downside buffer: if the basket falls by up to 10%, investors receive principal; below that, losses are magnified by a buffer rate of about 1.1111, and the entire investment can be lost. The notes pay no interest, are not listed, and secondary liquidity would depend on J.P. Morgan Securities LLC. The estimated value at pricing was $987.10 per $1,000, reflecting selling commissions, hedging costs and the issuer’s internal funding rate. Payments are subject to the credit risk of both the issuer and the guarantor.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable dual directional buffered notes linked to the S&P 500® Index, with a total offering size of $3,250,000.00 at $1,000 per note.

The notes may be automatically called on the February 2, 2027 review date if the index closes at or above the strike level of 6,796.86, in which case investors receive $1,000 plus a 7.40% call premium. If not called and the index is above the strike at the January 20, 2028 valuation date, investors get an uncapped upside equal to the index gain.

If the index finishes up to 20.00% below the strike, holders earn a positive return equal to the index’s absolute move, capped at $1,200 per $1,000 when the index is down. Below the 20.00% buffer, losses are magnified by a 1.25 downside leverage factor, so substantial principal loss is possible. The estimated value at pricing was $980.30 per $1,000 note, and investors forgo interest, dividends and voting rights.

JPMorgan Chase Financial Company LLC is offering $983,000 of callable contingent interest notes linked to the Nasdaq-100 Index®, the S&P 500® Index and the State Street® SPDR® S&P® Regional Banking ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes pay a contingent interest rate of 8.45% per annum (0.70417% per month) only for Review Dates when the closing value of each underlying is at least 60% of its Initial Value. Missed interest can be paid later if all underlyings recover above this barrier.

The notes are callable at the issuer’s option on specified Interest Payment Dates starting on July 24, 2026. If held to maturity and any underlying finishes below 60% of its Initial Value, repayment of principal is reduced one-for-one with the decline of the least performing underlying, potentially to zero.

Each $1,000 note is sold at $1,000, with $22.25 in selling commissions and $977.75 in proceeds to the issuer. The estimated value at pricing was $957.80 per $1,000 note, reflecting embedded fees and hedging costs. The notes are unsecured, unsubordinated obligations 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 $1,000-denomination Capped Buffered Enhanced Participation Equity Notes due July 23, 2027 linked to the MSCI EAFE Index. The notes pay no interest and are unsecured obligations subject to JPMorgan Financial’s and JPMorgan Chase & Co.’s credit risk.

At maturity, investors receive a cash payment based on index performance from the trade date to July 21, 2027. Upside exposure is 1.50x index gains but is capped, with the maximum settlement amount expected between $1,189.75 and $1,222.60 per $1,000 note. A 7.50% downside buffer applies: if the index falls by up to 7.50%, investors receive full principal; beyond that, losses are magnified by a buffer rate of about 1.0811, and principal can be fully lost.

The preliminary estimated value is expected between $972.60 and $982.60 per $1,000, reflecting structuring, selling and hedging costs, including selling commissions up to 1.09%. The notes are not listed, have no redemption feature, are not bank deposits and are not FDIC insured.

JPMorgan Chase Financial Company LLC is issuing $2,673,000 of callable contingent interest notes linked to the Russell 2000, EURO STOXX 50 and Nasdaq-100 indexes, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes pay a contingent coupon of $43.50 per $1,000 (an 8.70% annual rate, 4.35% semiannually) on each review date only if all three indexes close at or above 70% of their initial levels. JPMorgan can redeem the notes early on specified interest payment dates starting in January 2027, returning $1,000 per note plus any due contingent interest.

If held to January 2031 and not called, investors receive $1,000 per note plus the final contingent interest if every index stays at or above 65% of its initial level; otherwise, payoff is reduced in line with the worst-performing index, and investors may lose more than 35% or even all principal. The estimated value at pricing was $940.70 per $1,000, below the $1,000 issue price, reflecting selling, structuring and hedging costs.

JPMorgan Chase Financial Company LLC is issuing S&P 500®‑linked digital equity notes due April 13, 2027, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay no interest and your return depends on the index level on the April 9, 2027 determination date.

For each $1,000 principal amount, if the S&P 500® final level is at least 90% of its initial level, you receive a fixed "threshold settlement amount" expected to be between $1,086.40 and $1,101.30. If the index falls more than 10%, your loss is leveraged by a buffer rate of approximately 1.1111% for each additional 1% decline, and you could lose your entire principal.

The notes will not be listed, have no redemption feature, and any payment is subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The preliminary estimated value is expected between $975.40 and $985.40 per $1,000, reflecting selling commissions and hedging costs. The tax treatment is uncertain and could change, and there are significant liquidity, valuation and conflict‑of‑interest risks described in the risk factors.

JPMorgan Chase Financial Company LLC plans to issue unsecured, auto callable contingent interest notes linked individually to the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes run to December 28, 2027 and may be called early as soon as April 22, 2026 if each index is at or above its Initial Value on a review date (other than the first, second and final). Investors receive a monthly Contingent Interest Payment only when all three indices close at or above 80% of their Initial Values; the contingent interest rate will be at least 8.50% per annum.

If the notes are not called and any index finishes below 70% of its Initial Value at maturity, repayment of principal is reduced 1% for every 1% decline in the least-performing index, which can result in a substantial or total loss. A preliminary estimated value is about $960.10 per $1,000 note, and the final estimated value will not be less than $900.00 per $1,000, reflecting embedded costs and hedging assumptions.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the lesser performance of the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes pay a Contingent Interest Payment for any Review Date on which both indices close at or above 60% of their Initial Values, and are automatically called if both are at or above their Initial Values on a non-final Review Date. If a Trigger Event occurs and the Final Value of the lesser performing index is below its Initial Value, investors lose 1% of principal for each 1% decline, potentially losing their entire investment. The notes are unsecured obligations, not bank deposits, are not listed, and their estimated value, if priced today, would be approximately $986.60 per $1,000 note, with a minimum estimated value at pricing of $900.00 per $1,000 note.

JPMorgan Chase Financial Company LLC is issuing $5,792,000 of Auto Callable Accelerated Barrier Notes linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index, guaranteed by JPMorgan Chase & Co. The notes may be automatically called on January 27, 2027 if each index closes at or above its Call Value, paying $1,000 plus a fixed $230 Call Premium per note.

If not called and each index finishes above its initial level at maturity in January 2029, investors receive $1,000 plus 1.50 times the gain of the worst-performing index. If any index closes below a 70% barrier, investors lose 1% of principal for each 1% decline in the least performing index and could lose their entire investment. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and have an estimated value of $976.30 per $1,000 at pricing, below the issue price due to selling, structuring and hedging costs.

JPMorgan Chase Financial Company LLC is offering medium-term digital notes due April 29, 2027, linked to the iShares 20+ Year Treasury Bond ETF. The notes pay no interest and are fully and unconditionally guaranteed by JPMorgan Chase & Co.

At maturity, if the ETF’s final level is at least 90% of its initial level, holders receive a fixed threshold settlement amount, expected between $1,064.80 and $1,076.00 per $1,000 note, capping upside. If the ETF falls more than 10%, losses exceed the drop on a leveraged basis (about 1.1111% loss for each 1% decline beyond the 10% buffer), up to total loss of principal.

The estimated value at pricing is expected between $969.90 and $979.90 per $1,000 note, reflecting selling commissions, hedging costs and dealer profits. The notes are unsecured obligations, not FDIC insured, will not be listed on an exchange, and involve tax, liquidity, credit and structural risks described in detail in the risk factors.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $722,000 of auto callable barrier notes linked to the Nasdaq-100, Russell 2000 and S&P 500, maturing on January 25, 2029. The notes may be automatically called as early as January 26, 2027 if each index is at or above its 100% Call Value, paying $1,000 plus a call premium of 15.50% on the first Review Date or 31.00% on the second.

If not called, at maturity investors get uncapped, unleveraged exposure to the least performing index: gains match that index’s return when all three finish above their initial levels; principal is merely returned if any index is at or below its initial level but all remain at or above a 70% barrier. If any index finishes below its 70% barrier, repayment falls one-for-one with the least performing index and investors can lose up to all principal.

The notes pay no interest or dividends and carry issuer and guarantor credit risk. The price to public is $1,000 per note, including $9.50 in selling commissions, while the initial estimated value is $962.50, reflecting embedded costs and JPMorgan’s internal funding rate.

JPMorgan Chase Financial Company LLC is issuing $2,536,000 of auto callable contingent interest notes due January 25, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked to the least performing of the Nasdaq‑100 Index, the Russell 2000 Index and the State Street SPDR S&P Regional Banking ETF.

Investors receive monthly contingent interest at an annual rate of 8.70% (0.725% per month) only when the closing value of each underlying is at least 70% of its initial level. Beginning July 21, 2026, the notes are automatically called if on a review date (other than the first five and final) each underlying is at or above its initial value, paying $1,000 per note plus applicable interest and any unpaid contingent interest.

If the notes are not called, and at maturity the worst-performing underlying is at or above 60% of its initial value, investors receive full principal plus applicable interest. If any underlying finishes below 60%, principal is reduced one‑for‑one with the loss of the least performing underlying, up to a complete loss. The price to public is $1,000 per note, while the bank’s estimated value is $950.60, and the notes are unsecured obligations subject to JPMorgan credit risk and limited liquidity.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $2,567,000 of Review Notes linked separately to the Dow Jones Industrial Average®, the Nasdaq-100 Index® and the Russell 2000® Index.

The notes can be automatically called on scheduled Review Dates starting January 26, 2027 if each index closes at or above its Call Value (100% of its initial level). In that case, holders receive $1,000 plus a fixed Call Premium Amount per note, ranging from 9.50% on the first Review Date up to 47.50% on the final Review Date.

If the notes are not called and on the final Review Date each index finishes at or above its Barrier Amount (70% of its initial level), investors receive back principal. If any index finishes below its Barrier Amount, repayment is reduced one-for-one with the decline of the least performing index, and investors can lose more than 30% and up to all of their principal.

The notes pay no interest, provide no index dividends, are unsecured and unsubordinated obligations of JPMorgan Financial, and their payments are subject to the credit risk of both the issuer and guarantor. The price to public is $1,000 per note, including selling commissions, while the estimated value at pricing was $932.40 per $1,000 note.

JPMorgan Chase Financial Company LLC is offering auto callable accelerated barrier notes linked to the least performing of the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called as early as February 5, 2027 if each index closes at or above its Call Value, paying $1,000 per note plus a Call Premium Amount of at least $240 and then terminating.

If not called, at maturity in January 2029 investors receive $1,000 plus 1.50 times any positive return of the least performing index, full principal back if none of the indices has fallen below 80% of its initial level, or a dollar-for-dollar loss in line with the least performing index if that barrier is breached, down to a potential total loss. The estimated value is indicated at about $980 per $1,000 note and will not be less than $950. The notes pay no interest, provide no dividends, are unsecured obligations subject to JPMorgan Financial and JPMorgan Chase & Co. credit risk, may be illiquid, and involve equity, small-cap, non-U.S. and tax-structure risks.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked separately to the Dow Jones Industrial Average, the Nasdaq-100 Index and the Russell 2000 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes can pay monthly contingent interest at a rate that will be at least 7.40% per annum if, on an interest review date, each index is at or above 75% of its initial level. The notes are automatically called on specified quarterly dates if all three indexes are at or above their initial levels, with the earliest possible call in February 2027.

If the notes are not called and any index finishes below 70% of its initial level at maturity in February 2031, principal is reduced one-for-one with the decline of the worst-performing index, which can result in losing most or all of the investment. Investors receive no dividends, may receive no interest at all, face limited liquidity, and the unsecured notes carry the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The preliminary estimated value is $932.20 per $1,000, and the final estimated value will not be less than $900.00 per $1,000.

JPMorgan Chase Financial Company LLC is offering $1,752,000 of auto-callable structured notes linked separately to the Dow Jones Industrial Average®, the Nasdaq-100 Index® and the Russell 2000® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have $1,000 minimum denominations, price at $1,000 per note and carry an estimated value of $945.40 per $1,000 at issuance.

The notes may be automatically called as early as January 26, 2027 if each index closes at or above its Call Value of 100% of its Initial Value on a Review Date. In that case, investors receive $1,000 plus a fixed Call Premium Amount ranging from 11.50% on the first Review Date up to 34.50% on the final Review Date, and the notes terminate.

If not called, investors receive full principal at maturity on January 25, 2029 only if the Final Value of each index is at least 70% of its Initial Value. If any index finishes below this 70% barrier, repayment is reduced one-for-one with the decline of the worst-performing index, and investors can lose more than 30% and up to all of their principal. The notes pay no interest or dividends and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., as well as limited liquidity and potentially lower secondary market values.

JPMorgan Chase Financial Company LLC is offering unsecured Callable Contingent Interest Notes linked to the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes run to December 30, 2027 and may be redeemed early, in whole, on specified interest payment dates starting April 30, 2026.

Investors may receive monthly contingent interest only if, on a given review date, the closing level of each index is at or above its Interest Barrier, initially set at 70% of the index’s initial value. At maturity, if the notes have not been called and the worst-performing index is at or above its Trigger Value (60% of initial in the hypotheticals), principal is repaid (and interest may be paid if barriers are met). If the least-performing index finishes below its Trigger Value, repayment is reduced one-for-one with the index loss, which can result in losing most or all principal.

The preliminary estimated value is illustrated at approximately $963.50 per $1,000 note, and the final estimated value will not be less than $900.00 per $1,000. The notes are not listed, are subject to the credit risk of JPMorgan Chase Financial and JPMorgan Chase & Co., do not pay fixed interest or dividends, and expose holders to equity, small-cap and technology-sector risks, as well as potentially lower secondary-market values and uncertain tax treatment.

JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated callable contingent interest notes linked to the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes pay a monthly Contingent Interest Payment only if, on a given review date, the closing level of each index is at or above 70% of its Initial Value, an “Interest Barrier.” The indicative Contingent Interest Rate is at least 9.20% per annum, or 0.76667% per month, but interest is not guaranteed and may be zero over the entire term.

The issuer may redeem the notes early, in whole, on specified interest payment dates beginning May 5, 2026, paying $1,000 per note plus any due contingent interest. If the notes are not redeemed and, on the final review date, the least performing index is below its 70% Trigger Value, repayment of principal is reduced one-for-one with the index loss, and investors can lose some or all of their investment. The preliminary estimated value is about $962.60 per $1,000 principal, and the notes will not be listed on any exchange.

JPMorgan Chase Financial Company LLC is offering unsecured, index-linked Review Notes due January 25, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are tied separately to the Dow Jones Industrial Average®, the Nasdaq-100 Index® and the S&P 500® Index, with payments based on the least performing index.

The notes can be automatically called on three Review Dates starting January 26, 2027, paying back principal plus a Call Premium of at least 11.00%, 22.00% or 33.00% of the $1,000 principal, depending on when they are called. If not called and each index finishes at or above its 70.00% barrier, investors receive principal back; if any index ends below its barrier, repayment is reduced one-for-one with the loss in the least performing index, and investors can lose all principal.

The notes pay no interest and provide no dividends from the underlying indices. They are offered in $1,000 minimum denominations, with an estimated value of approximately $970 per $1,000 at launch and not less than $950, reflecting selling commissions, hedging costs and issuer funding assumptions.

JPMorgan Chase Financial Company LLC is offering callable contingent interest notes linked to the worst performer of the Dow Jones Industrial Average®, the Nasdaq‑100 Index® and the Russell 2000® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent interest rate of at least 10.60% per annum (0.88333% per month) only for Review Dates when each index closes at or above 70% of its Initial Value, which also serves as the Interest Barrier.

The notes can be redeemed early at the issuer’s option on specified Interest Payment Dates starting April 30, 2026, returning $1,000 per note plus any due contingent interest, after which no further payments are made. If the notes are not redeemed early and, on the final Review Date, the worst‑performing index is at or above 70% of its Initial Value, investors receive $1,000 plus the final contingent interest. If the worst index finishes below 70%, maturity payment is $1,000 plus $1,000 times the Least Performing Index Return, so principal losses can exceed 30% and reach 100%.

The notes are unsecured, unsubordinated obligations of JPMorgan Financial, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. For illustration, if priced on the example date, the estimated value would be about $979.60 per $1,000 note, and the final estimated value will not be less than $900, reflecting selling commissions, hedging costs and issuer funding assumptions.

JPMorgan Chase Financial Company LLC is offering unsecured Callable Contingent Interest Notes linked to the least performing of the Russell 2000® Index, the S&P 500® Index and the State Street® Technology Select Sector SPDR® ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes run to December 29, 2027 and may be called early, in whole, on specified interest payment dates beginning on April 28, 2026. Investors can receive a contingent monthly interest payment at a rate that will be at least 11.75% per annum, but only for Review Dates when the closing value of each underlying is at or above 70% of its Initial Value.

If the notes are not redeemed early and, on the final Review Date, the final value of each underlying is at or above its 70% Trigger Value, investors receive principal plus the last contingent interest payment. If any underlying finishes below its Trigger Value, repayment is reduced one‑for‑one with the decline of the least performing underlying, and investors can lose some or all of their principal. The notes do not pay fixed interest or any dividends, are subject to JPMorgan Financial and JPMorgan Chase & Co. credit risk, and may have limited or no secondary market liquidity.

JPMorgan Chase Financial Company LLC is offering $610,000 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 pay a contingent interest rate of 13.50% per annum (1.125% per month) only if, on a given review date, the Index closes at or above 70% of its initial value; missed coupons can be paid later if the barrier is met on a future date.

The notes may be automatically called as early as January 21, 2027 if the Index closes at or above its initial value on certain review dates, returning $1,000 per note plus due contingent interest. If the notes are not called and the final Index level is below 60% of the initial value, principal is reduced 1:1 with the Index loss, and investors can lose most or all of their money. The Index embeds a 6.0% per annum daily deduction, creating a drag on performance. The notes are unsecured obligations, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and their estimated value at pricing was $939.80 per $1,000.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the least performing of four underlyings: the S&P 500® Index, the Nasdaq‑100® Technology Sector, the iShares® Silver Trust and the SPDR® Gold Trust. The notes are unsecured, unsubordinated obligations and carry the credit risk of both the issuer and guarantor.

The notes pay a contingent monthly coupon of at least 13.30% per annum (at least $11.0833 per $1,000 per month) only if, on a given review date, the closing value of each underlying is at or above 60% of its initial value. Missed coupons can be paid later if the barrier is met, but may never be recovered. The notes can be automatically called starting July 28, 2026 if each underlying is at or above its initial value, in which case holders receive principal plus applicable coupons.

At maturity in December 2027, if the notes have not been called and any underlying is below 60% of its initial value, repayment of principal is reduced one‑for‑one with the loss on the worst performer, and investors can lose most or all of their principal. Estimated value at launch is lower than the $1,000 issue price, reflecting selling commissions, hedging costs and the issuer’s internal funding rate.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the common stock of Astera Labs, Inc. The notes are scheduled to mature on February 2, 2029 and have $1,000 minimum denominations.

Investors may receive a monthly contingent interest payment of at least 2.25% of principal (at least 27.00% per annum) for each Review Date on which Astera Labs’ share price is at least 50.00% of its Initial Value. Missed coupons can be paid later if the barrier is met on a future Review Date.

The notes are automatically called on certain Review Dates if Astera Labs’ share price is at least 110.00% of the Initial Value, returning principal plus applicable and unpaid contingent interest. If not called and the Final Value is at least 50.00% of the Initial Value, investors receive principal back plus the final and unpaid contingent interest.

If the notes are not called and the Final Value is below 50.00% of the Initial Value, repayment is reduced 1% for each 1% decline in the stock, and investors can lose more than half, up to all, of their principal. The notes are unsecured, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., will not be listed on an exchange, pay no fixed interest or dividends, and have an estimated value below the $1,000 issue price.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured Structured Investments Review Notes linked to the least performing of the EURO STOXX 50® Index, the iShares® MSCI Emerging Markets ETF and the iShares® MSCI EAFE ETF, maturing in January 2031.

The notes can be automatically called on scheduled Review Dates starting in January 2027 if each underlying is at or above its Call Value, paying back principal plus a fixed Call Premium that steps up from at least 11.9% to at least 59.5% of the $1,000 principal by the final Review Date.

If never called, and on the final Review Date every underlying is at or above its Barrier Amount (70% of its strike), investors receive only their principal. If any underlying is below its barrier, repayment is reduced one-for-one with the worst performer, and principal loss can reach 100%. The notes pay no interest or dividends, are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and have an indicative estimated value of about $974.10 per $1,000, not less than $940.00 at pricing.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of MercadoLibre, Inc. (MELI). Each Note has a $10 issue price, a term of about one year and pays a contingent quarterly coupon at a rate of at least 10.90% per annum only if the stock closes on or above the Coupon Barrier, set at $1,234.66, which is 60.00% of the Initial Value of $2,057.77 observed on January 21, 2026.

The Notes are automatically called on any quarterly Observation Date if the stock closes at or above the Initial Value. In that case, investors receive their $10 principal plus the coupon for that quarter and the product terminates. If the Notes are not called and, at maturity, the stock is at or above the Downside Threshold (also 60.00% of the Initial Value), investors receive full principal plus the final coupon. If at maturity the stock is below the Downside Threshold, repayment is reduced to $10 × (1 + Underlying Return), creating stock-like downside and the potential loss of most or all principal.

The Notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., and will not be listed on any exchange. The price to public is $10 per Note, selling commissions to UBS are up to $0.15 per $10 Note, and the estimated value, on the terms illustrated, is about $9.672 per $10 Note and will not be less than $9.30. U.S. tax treatment is intended as prepaid forward contracts with associated contingent coupons, with coupons treated as ordinary income, though alternative tax outcomes are possible.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering contingent income callable securities due February 3, 2028, linked to the worst performing of the EURO STOXX 50®, S&P 500® and Russell 2000® indices.

Each $1,000 security may pay a quarterly contingent coupon of at least 2.90% ($29) only if, on every day in the quarter, all three indices stay at or above 75% of their initial levels. If any index falls below its downside threshold on any day in a period, no coupon is paid for that quarter. At maturity, if none of the indices has a final value below its downside threshold, holders receive principal back and potentially the final coupon; otherwise, repayment is reduced 1‑for‑1 with the decline in the worst index and can fall to zero.

The issuer can redeem the notes early on any coupon date (except the final one) for principal plus any due coupon, ending further payments. These principal‑at‑risk securities do not participate in index upside and are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. An illustrative estimated value is about $961.70 per $1,000, and the final estimated value on pricing will not be less than $940.00.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured, unsubordinated Uncapped Buffered Digital Notes linked to the S&P 500® Futures Excess Return Index, expected to mature on February 6, 2032. The notes target a 45.00% Contingent Digital Return at maturity if the index is at or above its initial level, or down by no more than 15.00%, and provide at least 3.40x leveraged upside above a 145.00% threshold.

Below the 15.00% buffer, investors lose 1% of principal for each additional 1% index decline, up to a maximum loss of 85.00%. The notes pay no periodic interest, will not be listed on an exchange, and secondary liquidity is uncertain. An indicative estimated value is about $969.20 per $1,000 principal amount, with a minimum final estimated value not less than $900.00. Payments depend on the credit of both JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co., and the notes are not bank deposits and not FDIC insured.