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

JPMorgan Chase Financial Company LLC is issuing $730,000 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, credited monthly at 1.125%, but only for Review Dates when the Index closes at or above 70% of its Initial Value; missed coupons can be paid later if the barrier is again met.

The notes may be automatically called as early as January 13, 2027 if the Index is at or above its Initial Value on specified Review Dates, returning $1,000 per note plus due interest. If not called and the Final Value is below the Trigger Value of 60% of the Initial Value, investors lose 1% of principal for each 1% Index decline, up to a total loss. The Index embeds a 6.0% per annum daily deduction and can use up to 500% futures leverage, which can significantly drag performance and heighten losses. The notes are unsecured, not FDIC insured, have limited liquidity, and their estimated value at pricing was $940.70 per $1,000 note, below the issue price.

JPMorgan Financial Company LLC is offering $1,788,000 of callable contingent interest notes linked to the Nasdaq-100® Technology Sector IndexSM, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent interest rate of 9.00% per annum (2.25% per quarter) only for Review Dates when the closing level of each index is at least 70% of its Initial Value.

The notes are callable at the issuer’s option on specified Interest Payment Dates, beginning January 19, 2027, returning $1,000 per note plus any due contingent interest. If held to maturity and not redeemed early, investors receive $1,000 plus any final contingent interest if each index finishes at or above its 60% Trigger Value; otherwise, repayment is reduced based on the Least Performing Index and investors can lose some or all principal. The minimum denomination is $1,000, and the estimated value is $966.40 per $1,000, reflecting embedded fees, hedging costs and issuer funding assumptions.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering callable contingent interest notes linked separately to the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index, maturing December 23, 2027. The notes pay a monthly contingent coupon at a rate of at least 8.85% per annum when, on a review date, the closing level of each index is at or above 70% of its initial value; no interest is paid for any month in which any index falls below this barrier.

The issuer may redeem the notes early on specified interest payment dates starting July 23, 2026, returning $1,000 per note plus any due contingent interest. If held to maturity and none of the indices closes below 70% of its initial value on the final review date, investors receive $1,000 per note plus the final contingent interest payment; otherwise, principal is reduced one-for-one with the loss in the worst-performing index and investors can lose all principal. The estimated value is approximately $961.90 per $1,000 note on the trade date and will not be less than $900.00.

JPMorgan Chase Financial Company LLC is issuing $7,479,000 of auto callable contingent interest notes linked separately to the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 minimum denomination.

The notes pay a contingent coupon at a rate of 7.55% per annum (1.8875% per quarter) for any Review Date on which the closing level of each index is at or above 60% of its Initial Value. If on any non‑final Review Date both indices close at or above their Initial Values, the notes are automatically called and pay back $1,000 plus that period’s contingent interest, with no further payments.

If the notes are never called, maturity outcomes depend on index performance. If a “Trigger Event” occurs (either index ever closes below 60% of its Initial Value during the Monitoring Period) and at final valuation either index is below its Initial Value, repayment of principal is reduced one‑for‑one with the percentage loss of the lesser‑performing index, potentially to zero. The estimated value at pricing is $983.70 per $1,000 note, below the $1,000 issue price, reflecting selling costs and hedging factors.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the Class C common stock of Dell Technologies Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes can pay a contingent quarterly interest coupon if Dell’s share price on a review date is at or above an Interest Barrier set at 50.00% of the Initial Value.

If the stock closes at or above the Initial Value on any review date other than the first and final, the notes are automatically called, paying back $1,000 per note plus that period’s coupon and any previously unpaid coupons, with the earliest call date around July 28, 2026. If never called and Dell’s final share value is at or above the 50.00% Trigger Value, investors receive full principal plus the final and any unpaid coupons.

If the final value is below the Trigger Value, repayment falls in line with the stock decline and investors can lose a significant portion or all of their principal. A hypothetical contingent interest rate of 12.50% per annum (3.125% per quarter) is used in examples, and the estimated value is indicated at approximately $950.00 per $1,000 note, not less than $930.00, reflecting embedded costs and hedging. The notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., pay no fixed interest or dividends, and are not listed, so liquidity may be limited.

JPMorgan Chase Financial Company LLC is offering $462,000 of callable contingent interest notes linked separately to the Nasdaq-100® Technology Sector IndexSM, the Russell 2000® Index and the S&P 500® Index, fully guaranteed by JPMorgan Chase & Co. The notes pay a contingent coupon at a rate of 8.00% per annum (0.66667% per month) only for review dates when the closing level of each index is at least 70% of its initial value. Beginning April 16, 2026, the issuer can redeem the notes early on certain interest payment dates at $1,000 per note plus any due contingent interest.

If the notes are not redeemed early and any index finishes below 65% of its initial value at final valuation, repayment at maturity is reduced 1-for-1 with the decline of the worst-performing index, and investors can lose most or all of principal. The notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., are not listed, and the estimated value on the pricing date was $959.50 per $1,000 note, below the $1,000 issue price.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked separately to the Nasdaq-100® Technology Sector IndexSM, the State Street® SPDR® S&P® Regional Banking ETF and the State Street® Consumer Discretionary Select Sector SPDR® ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price on or about January 21, 2026 and mature on January 25, 2029.

Investors may receive a contingent monthly interest payment at a rate of at least 8.75% per annum if, on a Review Date, the closing value of each underlying is at or above 70% of its Initial Value; missed coupons can be paid later if this condition is later met. Beginning July 21, 2026, the notes are automatically called if, on certain Review Dates, each underlying closes at or above its Initial Value, returning principal plus the applicable contingent interest.

If the notes are not called and, on the final Review Date, any underlying finishes below its Trigger Value of 60% of its Initial Value, repayment of principal is reduced 1% for each 1% decline of the least performing underlying, with the possibility of losing the entire investment. The notes are unsecured, not FDIC insured, will not be listed on an exchange, have an estimated value below the $1,000 issue price (approximately $944.50 today, and not less than $900.00 at pricing), and involve complex sector, fund, market, liquidity, credit and tax risks.

JPMorgan Chase Financial Company LLC is offering $250,000 of auto callable contingent interest notes linked separately to the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a 6.35% per annum contingent interest (0.52917% monthly) only for review dates when each index closes at or above 70% of its initial level.

The notes may be automatically called on certain review dates starting July 13, 2026 if each index is at or above its initial value, in which case investors receive $1,000 per note plus the applicable contingent interest and no further payments. If the notes are not called and, at maturity on December 16, 2027, any index finishes below 60% of its initial level, repayment of principal is reduced one-for-one with the decline of the worst-performing index, and investors can lose all of their principal.

The notes are unsecured and unsubordinated obligations of JPMorgan Financial, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The issue price is $1,000 per note, including $22.25 of selling commissions, while the estimated value at pricing is $957.90, reflecting structuring and hedging costs. The notes will not be listed on an exchange, and secondary market prices are expected to be below the issue price.

JPMorgan Chase Financial Company LLC is offering $1,195,000 of auto callable contingent interest notes linked separately to the Nasdaq-100 Index, the Russell 2000 Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes can pay a contingent monthly coupon at a rate of 7.85% per annum if on a review date each index closes at or above 80% of its initial value. Starting July 13, 2026, the notes are automatically called if on certain review dates each index is at or above its initial value, returning $1,000 per note plus the applicable coupon.

If the notes are not called and any index finishes below 80% of its initial value at maturity, investors lose 1% of principal for every 1% decline beyond the 20% buffer, up to an 80% loss. The price to public is $1,000 per note, while the issuer’s estimated value is $981.30, reflecting embedded fees, hedging costs and funding assumptions.

JPMorgan Chase Financial Company LLC is offering $1,873,000 of callable contingent interest notes linked to the Nasdaq-100, Russell 2000 and S&P 500 indices, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent coupon at a rate of 10.15% per annum (0.84583% per month) only when, on a Review Date, the closing level of each index is at least 70% of its Initial Value; otherwise no interest is paid for that period.

Starting on July 16, 2026, JPMorgan may redeem the notes early on most interest payment dates, returning $1,000 per note plus any due contingent interest, ending future payments. If the notes are not redeemed early and, on the final Review Date, every index is at or above its 70% Trigger Value, holders receive $1,000 per note plus the final contingent interest payment. If any index finishes below its Trigger Value, the maturity payment is reduced in proportion to the decline of the least performing index, which can result in losing most or all principal, as illustrated by the -60% example paying $400.

The notes are unsecured, unsubordinated obligations of JPMorgan Financial, subject to the credit risk of both the issuer and guarantor, are not insured by the FDIC, and will not be listed on any exchange, so liquidity may be limited. The original issue price is $1,000 per note, while the issuer’s estimated value is $978.90, reflecting selling commissions, hedging costs and projected dealer profits.

JPMorgan Chase Financial Company LLC is issuing auto callable contingent interest notes linked to the common stock of NVIDIA Corporation, fully and unconditionally guaranteed by JPMorgan Chase & Co. The total offering is $250,000, in minimum denominations of $1,000.

The notes pay a 16.00% per annum Contingent Interest Rate (1.33333% per month) only for Review Dates when NVIDIA’s closing price is at or above the Interest Barrier, set at 70.00% of the Initial Value. Starting April 13, 2026, the notes are automatically called if, on a Review Date (other than the first, second and final), the closing price is at or above the Initial Value, returning $1,000 plus the applicable contingent interest.

If not called, and at maturity the Final Value is at or above the Trigger Value of 60.00% of the Initial Value, investors receive $1,000 plus any final contingent interest. If the Final Value is below the Trigger Value, repayment is reduced dollar for dollar with the stock’s loss, and investors can lose a significant portion or all of their principal. The notes are unsecured, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not listed, and have an estimated value of $966.20 per $1,000, below the $1,000 price to public.

JPMorgan Chase Financial Company LLC is offering $700,000 of unsecured callable contingent interest notes linked to the worst performer among the Nasdaq-100, Russell 2000 and S&P 500 indices, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes can pay a contingent coupon at a rate of 7.65% per annum (0.6375% per month) for any review date on which the closing level of each index is at least 70% of its initial level, but may pay no interest at all.

The issuer may redeem the notes early on certain interest payment dates beginning July 16, 2026, returning $1,000 per note plus any due contingent interest. If the notes are not redeemed early and the final level of any index is below its 70% trigger level, principal is reduced 1% for every 1% decline of the least performing index, potentially to zero. The estimated value at pricing was $946.60 per $1,000, reflecting embedded costs, and the notes will not be listed, so secondary market liquidity and prices may be limited.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes can pay monthly contingent interest when the Index is at or above 70% of its Initial Value and are automatically called quarterly if the Index is at or above the Initial Value, with the earliest possible call in July 2026.

If the notes are not called, investors receive principal at maturity only if the Final Index Value is at or above 60% of the Initial Value; otherwise, repayment is reduced one-for-one with the Index decline, and all principal can be lost. A hypothetical contingent interest rate of 17.25% per annum (1.4375% monthly) is illustrated, and the issuer estimates current value at about $931.40 per $1,000, with a minimum future estimated value of $900. The underlying Index uses leveraged E-mini S&P 500 futures with a 35% target volatility and is subject to a 6.0% per annum daily deduction that drags on performance. The notes are unsecured, unlisted, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., may be illiquid, and involve complex tax and withholding considerations for U.S. and non-U.S. holders.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering callable structured notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing in January 2031. The notes can be automatically called on scheduled Review Dates, starting in January 2027, if the Index is at or above the Call Value, paying $1,000 plus a Call Premium Amount that steps up from at least 25% to at least 125% of principal over time.

If the notes are not called, investors receive full principal at maturity only if the Final Index Value is at or above a 50% Barrier Amount. If the Final Value is below the Barrier, repayment is $1,000 plus $1,000 times the Index Return, so losses can exceed 50% and extend to all principal. The Index uses leveraged exposure (up to 500%) to E-mini S&P 500 futures, targets 35% implied volatility, and applies a 6.0% per annum daily deduction that drags on performance. The estimated value is about $932.10 per $1,000 note and will not be less than $900.00, and investors face credit risk of both the issuer and guarantor, no interest or dividends, and limited liquidity.

JPMorgan Chase Financial Company LLC is offering callable contingent interest notes linked separately to the Nasdaq-100, Russell 2000 and S&P 500 indices, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes run to January 28, 2031 and pay a monthly Contingent Interest Payment only when the closing level of each index on a Review Date is at or above 55% of its Initial Value, the Interest Barrier.

The issuer may redeem the notes early, in whole, on certain Interest Payment Dates starting January 28, 2027, returning principal plus any due contingent interest. If the notes are not redeemed early, at maturity investors receive $1,000 plus the final contingent interest if each index is at or above its Trigger Value (also 55% of its Initial Value). If any index finishes below its Trigger Value, repayment is reduced in proportion to the decline of the Least Performing Index, and investors can lose some or all principal.

The notes are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The estimated value is expected to be lower than the $1,000 issue price; if priced on the indicated date it would be about $970 per note, and the final estimated value will not be less than $950. Investors also face liquidity, market, tax and withholding risks, including potential lack of secondary market and uncertain U.S. federal income tax treatment.

JPMorgan Chase Financial Company LLC is issuing $1,000,000 of auto callable contingent interest notes linked to the common stock of Devon Energy Corporation, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent interest rate of 11.20% per annum (2.80% per quarter) only for review dates when Devon’s share price is at or above 60% of the strike price, called the Interest Barrier.

The notes may be automatically called on quarterly review dates starting July 9, 2026 if Devon’s share price is at or above the strike value, in which case investors receive $1,000 per note plus the applicable contingent interest and no further payments. If the notes are not called and, on the final review date, Devon’s share price is at or above 50% of the strike value, investors receive full principal plus any final contingent interest.

If Devon’s final price is below 50% of the strike value, repayment of principal is reduced 1% for each 1% decline in the stock from the strike, which can result in losing most or all invested principal. The notes are unsecured, not FDIC insured, and the estimated value at pricing was $978.50 per $1,000 note, below the $1,000 price to the public.

JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated Review Notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes can be automatically called as early as January 26, 2027 if the Index closes at or above a preset Call Value, paying back $1,000 per note plus a call premium that starts at at least 11.15000% of principal and rises to at least 55.75000% by the final Review Date.

If the notes are not called, principal is protected only down to a 15.00% buffer; if the Index falls more than this, investors lose 1% of principal for each 1% drop beyond the buffer, up to an 85.00% loss. The Index embeds a 6.0% per annum daily deduction and a notional financing cost, uses volatility‑targeted exposure to the QQQ Fund of 0–500%, and is expected to underperform a similar index without these costs. The minimum denomination is $1,000, and if priced today, the estimated value would be about $906.50 per $1,000 note (and will not be less than $900.00 at pricing).

JPMorgan Chase Financial Company LLC is offering callable contingent interest notes linked separately to the Nasdaq‑100, Russell 2000 and S&P 500 indices, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a monthly contingent coupon only when the closing level of each index is at or above 60% of its initial level, with the contingent interest rate to be at least 6.20% per annum. If this condition is not met for a review date, no interest is paid for that period.

The issuer can redeem the notes early, in whole, on specified interest payment dates starting January 22, 2027, returning $1,000 per note plus any due contingent interest, ending all future payments. If the notes are not redeemed and, on the final review date, the least performing index is at or above 50% of its initial level, investors receive full principal back plus any final contingent interest. If the least performing index finishes below 50% of its initial level, repayment of principal is reduced one-for-one with the index loss, potentially to zero. The preliminary estimated value is about $948.10 per $1,000 note and will not be less than $900.00 per $1,000 when finalized.

JPMorgan Chase & Co. is offering Capped Callable Fixed to Floating Rate Notes linked to the Consumer Price Index (CPI), maturing on January 30, 2036. Each note is expected to be sold at $1,000, with selling commissions of approximately $17.50 per $1,000 principal amount (not to exceed $35.00).

The notes pay a fixed 6.00% per annum during the initial interest periods through January 30, 2028. After that, interest for each period equals the CPI Rate + 2.00%, rounded to three decimals, subject to a 0.00% minimum and a 6.00% maximum. If CPI-based calculations are low enough, interest for some later periods can be zero.

JPMorgan may call the notes monthly from January 30, 2028 through December 30, 2035 at par plus accrued interest. The notes are unsecured obligations of JPMorgan Chase & Co. and are exposed to its credit and resolution strategy, meaning recoveries could be limited in a stress scenario. For U.S. tax purposes, JPMorgan intends to treat the notes as contingent payment debt instruments, requiring investors generally to accrue taxable original issue discount over time.

JPMorgan Chase Financial Company LLC is offering callable contingent interest notes linked to the worst performer among the iShares Silver Trust, VanEck Junior Gold Miners ETF and VanEck Semiconductor ETF, maturing on January 25, 2029. Each note has a $1,000 denomination and can pay a monthly contingent coupon of at least $16.6667 per $1,000, equivalent to a contingent interest rate of at least 20.00% per year, but only if on each review date all three funds stay at or above 60.00% of their initial value.

JPMorgan may redeem the notes early on specified interest payment dates starting July 23, 2026, paying $1,000 plus any due contingent interest. At maturity, if the notes are not called and any fund finishes below 50.00% of its initial value, the repayment is reduced one-for-one with the loss of the worst-performing fund, and investors can lose more than 50.00% and up to all of their principal. The notes are unsecured obligations of JPMorgan Chase Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., with an indicative estimated value of about $956.50 per $1,000 and a minimum estimated value of $900.00 per $1,000.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the common shares of Celestica Inc., maturing on July 28, 2027. The notes pay a monthly contingent coupon at a rate of at least 30.00% per annum (at least $25.00 per $1,000 note per month) for any Review Date on which Celestica’s closing share price is at or above an Interest Barrier set at 60.00% of the Initial Value. If on any Review Date from April 23, 2026 (excluding the first, second and final Review Dates) Celestica closes at or above the Initial Value, the notes are automatically called and pay $1,000 plus that period’s coupon, with no further payments.

If the notes are not called and Celestica’s Final Value on the last Review Date is at or above a Trigger Value of 50.00% of the Initial Value, holders receive back $1,000 per note plus any final coupon. If the Final Value is below the Trigger Value, repayment of principal is reduced one-for-one with the stock’s loss, so investors can lose more than half, up to all, of their principal. The notes are unsecured obligations of JPMorgan Financial, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The minimum denomination is $1,000, and the indicative estimated value is about $940.80 per $1,000 note, not less than $900 at pricing.

JPMorgan Chase Financial Company LLC is offering structured Buffered Digital Notes linked to the spot price of Grade A copper, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay no interest but can provide a fixed return of at least 12.25% at maturity if the final copper price is at or above the initial level, or down to 10% below it. They mature on February 8, 2027, with a 10% downside buffer; if copper falls by more than 10%, principal is reduced point-for-point, up to a 90% loss. Each note has a $1,000 minimum denomination, is unsecured, not FDIC insured, and its value and repayment depend on the credit of JPMorgan Financial and JPMorgan Chase & Co. The preliminary estimated value is approximately $973.10 per $1,000 note, and will not be less than $950.00 when finalized.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Capped Bearish Notes linked to the S&P 500^® Index, maturing on January 21, 2028. These unsecured notes are designed to provide a positive return at maturity if the Index falls over the term, with 100% downside participation and a maximum return of at least 22.85%, or at least $228.50 per $1,000 note.

If the S&P 500 Index is flat or higher at maturity, investors receive only the $1,000 principal per note, with no interest or dividends. The preliminary estimated value is approximately $970 per $1,000 note and will not be less than $950 per $1,000 when finalized, reflecting embedded selling commissions, structuring fees and hedging costs. The notes are not listed, may be hard to sell before maturity, and all payments 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 Digital Barrier Notes linked to the Class C common stock of Dell Technologies Inc. The notes target a fixed return of at least 12.00% at maturity if Dell’s final stock price is at or above 50.00% of its initial level, called the Barrier Amount.

If the final stock price is below this 50.00% barrier, repayment tracks the full stock loss from the initial level, so investors can lose more than 50.00% and up to all of their principal. The notes pay no interest, pass through no Dell dividends and carry the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

The minimum denomination is $1,000, with an estimated value of about $980.00 per $1,000 note on the cover date and a final estimated value that will not be less than $950.00 per $1,000. The notes will not be listed on an exchange, and secondary market prices are expected to be below the original issue price.

JPMorgan Chase & Co. and JPMorgan Chase Financial Company LLC plan to issue structured notes linked to the MerQube Vol Advantage Index Series. These indices provide rules-based exposure to tech, large-cap, small-cap, gold futures and bitcoin through underlying ETFs and futures, while targeting a 35% implied volatility level with exposure that can range from 0% to as high as 500%.

Each index is an excess-return index, reduced by a 6.0% per annum daily deduction, and two fund-based indices (tech and bitcoin) also subtract a SOFR-based notional financing cost. These features are expected to make the indices lag similar strategies without such deductions and can cause index levels to fall even when underlying assets rise modestly. The notes embed significant leverage and complexity, with performance further affected by futures market structure, bitcoin and gold-specific risks, and sensitivity to interest rates via SOFR. JPMorgan affiliates helped design the indices and hold an equity interest in the index sponsor, which may change index methodologies without regard to noteholders.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Uncapped Accelerated Barrier Notes linked to the lesser performance of the EURO STOXX 50® Index and the iShares® MSCI EAFE ETF, maturing in January 2031.

The notes provide an uncapped leveraged upside of between 1.90 and 1.95 times any positive return of the lesser performing underlying at maturity, if both finish above their initial values. If either underlying finishes at or below its initial value but both stay at or above 70.00% of their initial values, investors receive only their principal back. If either falls below 70.00% of its initial value, repayment is reduced 1-for-1 with the lesser performer’s loss, so investors can lose more than 30.00% and up to all principal.

The notes pay no interest or dividends and are subject to the credit risk of both the issuer and guarantor. They will not be listed, and secondary prices are expected to be below the $1,000 issue price because of embedded selling, structuring and hedging costs, with an estimated value that could be as low as $920.00 per $1,000 principal amount.

JPMorgan Chase Financial Company LLC is offering unsecured Digital Equity Notes due August 18, 2027, fully and unconditionally guaranteed by JPMorgan Chase & Co.. These medium-term notes are linked to the S&P 500 Index and do not pay interest.

At maturity, for each $1,000 note you receive a cash amount based on index performance from the trade date to August 16, 2027. If the final index level is at least 87.50% of the initial level, you receive a fixed threshold settlement amount, expected to be $1,114.40–$1,134.50, capping your maximum gain.

If the index falls more than the 12.50% buffer, your loss is leveraged: for each additional 1% decline beyond the buffer, the payoff falls about 1.1429% of principal, and you could lose your entire investment. The preliminary estimated value is expected between $980.10 and $990.10 per $1,000 note. The notes are not listed, have no redemption rights, and carry credit and tax-uncertainty risks.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured Uncapped Accelerated Barrier Notes linked to the lesser performance of the SPDR® S&P 500® ETF Trust (SPY) and the Invesco QQQ TrustSM, Series 1 (QQQ), maturing on January 22, 2031. The notes provide at least 1.315 times any positive return of the lesser-performing fund if both finish above their initial values.

If either fund finishes at or below its initial value but both stay at or above 70% of their initial values, investors receive only their principal. If either fund closes below 70% of its initial value, maturity payment is reduced one-for-one with the loss of the lesser-performing fund, exposing investors to losses greater than 30% and potentially 100% of principal. The minimum denomination is $1,000, with an estimated value of about $980 per $1,000 note at pricing and not less than $950. The notes pay no interest or dividends, will not be listed on an exchange, and are subject to the credit risk of both JPMorgan entities, complex tax treatment, and potentially limited secondary market liquidity.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the Class A common stock of Palantir Technologies Inc. The notes pay a contingent interest of at least $45.00 per $1,000 note each quarter (at least 18.00% per annum) for any Review Date on which Palantir’s share price is at or above 50.00% of the Initial Value. The notes may be automatically called as early as April 21, 2026 if the share price is at or above the Initial Value on a Review Date.

If the notes are not called and Palantir’s final share price on July 21, 2027 is at or above the 50.00% Trigger Value, investors receive $1,000 plus the final contingent interest. If the final price is below the Trigger Value, repayment is reduced one-for-one with Palantir’s decline, and investors can lose more than 50.00% and up to all of their principal. The notes are unsecured, unsubordinated obligations, exposed to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not pay dividends on Palantir stock. An example estimated value is $964.80 per $1,000 note, with a minimum estimated value at pricing of $900.00.

JPMorgan Chase Financial Company LLC is offering structured review notes linked to the worst performer among the Russell 2000 Index, the VanEck Gold Miners ETF and the State Street Energy Select Sector SPDR ETF, fully guaranteed by JPMorgan Chase & Co. The notes are auto-callable from January 25, 2027 through final maturity on January 24, 2031, with per-note denomination of $1,000.

If on a Review Date all three underlyings are at or above 100% of their initial values, the notes are called and pay back principal plus a call premium that starts at at least 24.85% and can reach at least 124.25% by the final Review Date. If not called, and any underlying finishes below 60% of its initial value, repayment is reduced one-for-one with the loss in the worst performer, so investors may lose most or all principal. The notes pay no interest or dividends, have limited liquidity, and carry the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The issuer estimates current value at about $953.10 per $1,000 note, and not less than $900.00 at pricing.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering callable contingent interest notes linked to the Class A common stock of Palantir Technologies Inc., maturing January 21, 2028. The notes pay a contingent coupon of at least 22.00% per annum (at least $55 per $1,000 quarterly) only if Palantir’s share price on each review date is at or above 60.00% of the initial value.

The issuer can redeem the notes early on specified interest payment dates starting July 16, 2026, returning $1,000 per note plus any due contingent interest, after which no further payments are made. If held to maturity and the final Palantir price is at or above the 60.00% trigger, investors receive $1,000 plus the final contingent interest; if it is below the trigger, the payoff is $1,000 plus the stock return, so investors can lose more than 40% and up to all principal.

The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., pay no dividends on Palantir, and will not be listed on an exchange. Estimated value at pricing would be about $970 per $1,000, and will not be less than $950, reflecting selling commissions of up to $17.50 and a structuring fee of up to $1.00 per $1,000, as well as hedging and issuance costs.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable buffered equity notes linked to the least performing of the S&P 500, Russell 2000 and Nasdaq-100 indices, maturing on January 24, 2031.

The notes can be automatically called on annual Review Dates starting January 22, 2027 if each index is at or above its initial level, paying back $1,000 plus a call premium of at least 8%–32% of principal depending on the call year. If not called and all indices end above their initial levels, investors receive uncapped, unleveraged upside based on the least performing index.

A 25% downside buffer applies at maturity; below that, principal is reduced 1% for every 1% additional loss in the least performing index, up to a 75% loss of principal. The notes pay no interest or dividends, are unsecured obligations subject to JPMorgan credit risk, and have an estimated value of about $940 per $1,000 principal today, with a final estimated value not less than $920 per $1,000 to be set at pricing.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Buffered Digital Notes linked to the S&P 500® Index, maturing in January 2028. The notes aim to pay a fixed return of at least 17.00% at maturity if the index finishes at or above its initial level, or down by no more than 10.00%.

If the S&P 500® falls by more than 10.00%, investors lose 1% of principal for each additional 1% decline, up to a 90.00% loss of principal at maturity. The preliminary estimated value is about $991.90 per $1,000 note and will not be less than $960.00 when finalized. The notes pay no interest or dividends, are unsecured, not FDIC‑insured, and expose holders 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 Uncapped Buffered Return Enhanced Notes linked to the lesser performing of the Dow Jones Industrial Average and the S&P 500 Index, maturing on February 4, 2032. Each note has a $1,000 denomination.

At maturity, if both indices finish above their initial levels, investors receive $1,000 plus at least 1.20 times the gain of the weaker index. If either index is flat or down by up to the 10% buffer, investors receive only their principal back. If either index falls by more than 10%, repayment is reduced dollar-for-dollar beyond the buffer, with up to 90% of principal at risk.

The notes pay no interest, provide no dividends, are not bank deposits, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. If priced on the example date, the estimated value would be about $945.10 per $1,000 note and will not be less than $920.00 when finalized, reflecting embedded selling commissions, structuring fees and hedging costs.

JPMorgan Chase Financial Company LLC is offering structured “Review Notes” linked separately to the Nasdaq-100, Russell 2000 and S&P 500, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes run to January 26, 2029 and can be automatically called on scheduled Review Dates starting in January 2027 if each index closes at or above its Call Value, paying back $1,000 plus a Call Premium Amount that starts at a minimum of 14% of principal and can reach at least 42% on the final Review Date.

If the notes are not called and each index finishes at or above its 70% Barrier Amount, investors receive only their principal at maturity. If any index closes below its Barrier Amount on the final Review Date, the payout is reduced one-for-one with the decline of the Least Performing Index, and investors can lose all principal. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and will not be listed, so liquidity may be limited. The preliminary estimated value is about $977 per $1,000 note, and the final estimated value will not be less than $940 per $1,000.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the Class C common stock of Dell Technologies Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are scheduled to mature on January 25, 2028 and are issued in minimum denominations of $1,000.

The notes pay a Contingent Interest Payment on each Review Date only if Dell’s closing share price is at least 65.00% of the Initial Value, defined as the Interest Barrier. If the stock is below this barrier on a Review Date, no interest is paid for that period. Beginning April 20, 2026, the notes will be automatically called if Dell’s share price on a Review Date (other than the first, second and final) is at or above a preset Call Value, returning $1,000 plus that period’s contingent interest.

If the notes are not called, and Dell’s price on the final Review Date is at or above a specified Trigger Value, investors receive $1,000 plus the final contingent interest. If the final price is below the Trigger Value, repayment is reduced in line with the stock loss, so investors can lose a significant portion or all of their principal. The notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The estimated value is currently about $964.20 per $1,000, and will not be less than $930.00 per $1,000 when set, reflecting selling commissions, hedging costs and issuer funding assumptions.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $3,220,000 of auto callable contingent interest notes linked separately to the Dow Jones Industrial Average®, the Nasdaq-100 Index® and the Russell 2000® Index, maturing January 19, 2029.

The notes pay a contingent coupon at a rate of 10.50% per annum (0.875% per month) only if on a Review Date each index closes at or above 85% of its Initial Value, with unpaid coupons accruing if this condition is later met. Starting January 13, 2027, the notes are automatically called if on a Review Date (other than designated early and final dates) each index is at or above its Initial Value, returning $1,000 per note plus applicable coupons.

If the notes are not called and on the final Review Date any index finishes below 75% of its Initial Value, principal is reduced 1% for each 1% decline in the least performing index, which can result in a substantial or total loss of principal. The price to public is $1,000 per note, including $2.50 in selling commissions, while the estimated value at pricing was $979.20 per $1,000.

JPMorgan Chase Financial Company LLC is offering contingent interest notes linked to the Class A common stock of Palantir Technologies Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are designed to pay a contingent coupon of at least 10.45% per annum (about 0.87083% per month) for each review date where Palantir’s closing share price is at or above 70% of its initial value, but they may pay no interest at all.

At maturity on February 2, 2027, investors receive full principal only if Palantir’s final share price is at or above the 70% buffer threshold; below that level, principal is reduced so losses can reach up to 70% of the amount invested. The notes do not provide any participation in stock gains, pay no dividends, are unsecured and unsubordinated obligations of JPMorgan Chase Financial Company LLC, and are subject to the credit risk of both the issuer and JPMorgan Chase & Co. The estimated value, as illustrated, is below the $1,000 price to the public because it reflects internal funding and hedging costs.

J.P. Morgan’s Kronos+^SM Index is a rules-based strategy that toggles between uninvested, fully invested, or 2x leveraged exposure to the S&P 500^® Price Index. It is built around three effects: turn-of-the-month strength, price momentum around index options expiry, and mean reversion at month-end.

The Index, established on December 22, 2020, does not include dividends and is reduced by a 0.95% per annum index fee and, at times, a notional financing cost tied to the Effective Federal Funds Rate. Historical and hypothetical backtested data from December 2015 through December 2025 are presented, including annual and monthly returns, risk measures such as 10-year annualized volatility, and Sharpe ratios compared with the S&P 500 Price Index.

The document highlights numerous risks, including strategy-specific risks for the turn-of-month, option expiry momentum, and mean reversion components, the possibility that the Index may be uninvested, the impact of index fees and financing costs, limited operating history, and the fact that performance and backtested results are not indicative of future outcomes. It emphasizes that notes linked to the Index may not be suitable for all investors.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering equity-linked Review Notes tied separately to the Russell 2000 Index, the S&P 500 Equal Weight Index and the EURO STOXX 50 Index, maturing January 17, 2030. The notes can be automatically called as early as January 19, 2027 if each index is at or above its specified Call Value, paying back $1,000 plus a stepped Call Premium of at least 10% on the first Review Date, rising in steps to at least 40% on the final Review Date.

If the notes are never called and on the final Review Date any index closes below its 70% Barrier Amount, the payoff is $1,000 plus $1,000 times the return of the Least Performing Index, so investors lose more than 30% of principal and could lose it all. The notes pay no interest, provide no dividends, are unsecured obligations, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. Indicative estimated value is approximately $961 per $1,000 note and will not be less than $930 per $1,000 at pricing, reflecting selling commissions, hedging costs and issuer funding assumptions.

JPMorgan Chase & Co. is offering callable fixed to floating rate notes due January 30, 2046. The notes pay a fixed interest rate of 11.00% per annum from issuance on January 30, 2026 through January 30, 2028, with interest paid quarterly on January 30, April 30, July 30 and October 30.

After January 30, 2028, interest becomes floating and is reset each period at (7.00% minus the Benchmark Rate) × 1.50, subject to a minimum of 0.00% per year. The Benchmark Rate is initially Compounded SOFR and may be replaced following a Benchmark Transition Event under specified procedures.

The issuer may call the notes in whole at par plus accrued interest on each quarterly redemption date from January 30, 2028 through October 30, 2045. The notes are unsecured obligations of JPMorgan Chase & Co., rank behind creditors of its subsidiaries in a resolution scenario, may be volatile due to SOFR behavior, are not designed for short-term trading and are expected to be treated as contingent payment debt instruments for U.S. federal income tax purposes, requiring investors to accrue original issue discount for tax.

JPMorgan Chase & Co. provides a January 2026 performance update for the S&P Global 100 PR 5% Daily Risk Control 0.5% Deduction Index (USD) ER. This index gives exposure to the S&P Global 100 Index while targeting 5% annualized volatility and deducting both a 0.50% per year fee and a notional financing cost based on the Effective Federal Funds Rate, calculated daily.

The index is calculated on an excess return basis and was established on September 18, 2023, with levels published under ticker SPGLR5TE. The filing shows hypothetical and actual historical returns and volatility from December 2015 through December 2025 and compares them to two hypothetical 30/70 stock‑bond portfolios. For the index, the 10‑year annualized return is 2.32% with 10‑year annualized volatility of 4.27%, implying a Sharpe Ratio of 0.54 over that period.

The document stresses that backtested and past performance are not indicative of future results and highlights risks, including daily deductions, the possibility that the index may not match its 5% volatility target, may significantly reduce exposure to equities, and may fail to outperform the underlying S&P Global 100 Index or the comparison portfolios. It also notes that CDs linked to the index may not be suitable for all investors.

JPMorgan Chase & Co. is offering two types of senior unsecured notes under this prospectus supplement: fixed-to-floating rate notes and floating rate notes. Both are general obligations of the holding company and rank equally with its other unsecured, unsubordinated debt.

The fixed-to-floating notes pay a fixed interest rate for an initial period, then switch to a floating rate based on a benchmark expected to be Compounded SOFR plus a spread, with interest paid semi-annually during the fixed period and quarterly thereafter. The floating rate notes pay interest at a floating rate from issuance, also tied to Compounded SOFR plus a spread, with quarterly payments.

The notes may be redeemed at specified times and prices before maturity, have no sinking fund, will be issued only in book-entry form through DTC, and are not expected to be listed on any securities exchange. Net proceeds will be contributed to JPMorgan Chase Holdings LLC, which will use them for general corporate purposes, including funding subsidiaries, paying dividends, refinancing securities, and potential acquisitions or expansion.

J.P. Morgan provides an index supplement for the J.P. Morgan Tactical Blend Index, which serves as the reference for notes linked to this index. The document shows hypothetical backtested and actual historical monthly and annual returns for the index, with backtested performance used through March 29, 2023 and actual index performance from March 30, 2023 to December 31, 2025.

It also details hypothetical and actual historical average monthly weights across three main Basket Constituents: the Invesco DB US Dollar Index Bullish Fund, the J.P. Morgan Core Bond SM Index and the J.P. Morgan U.S. Low Volatility Index. The methodology description explains the use of alternative “proxy” performance for some constituents before their launch or required liquidity, and emphasizes that past allocations, historical performance and backtested results are not indicative of future outcomes.

The supplement highlights key risks, including that the index is calculated on an excess return basis with a 0.85% per annum deduction, may be significantly uninvested, may be heavily influenced by the equity constituent, and follows a momentum-based rebalancing strategy that may not achieve its target volatility or risk-parity goals. It stresses that the notes are not bank deposits, are not insured by the FDIC or any governmental agency, and that neither the SEC nor any state securities commission has approved or disapproved the notes.

JPMorgan Chase & Co. is offering callable step-up fixed rate notes due January 30, 2034. The notes pay annual interest of 4.25% from January 30, 2026 to January 30, 2029, 5.00% from January 30, 2029 to January 30, 2032, and 6.50% from January 30, 2032 to maturity, with interest paid each January 30 on a 30/360 day count basis.

The issuer may redeem the notes in whole on January 30 and July 30 of each year from January 30, 2028 through July 30, 2033, at par plus accrued interest, after at least 5 business days’ notice. At maturity, if not called, investors receive their principal plus any accrued and unpaid interest.

The price to the public is expected to be around $1,000 per $1,000 principal amount, and may range from $980.10 to $1,000 for certain institutional or fee-based accounts. The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits or FDIC-insured, and in a resolution scenario losses would be borne by equity holders first and then unsecured creditors, including holders of these notes.

J.P. Morgan provides a January 2026 index supplement describing the MerQube US Gold Vol Advantage Index, which underlies certain structured notes. The document presents monthly and annual performance figures, including hypothetical backtested returns from December 26, 2007 through February 10, 2025 and actual index performance from February 11, 2025 through December 31, 2025.

The index applies a 6.0% per annum daily deduction, uses significant leverage, may be substantially uninvested at times, and is based on gold futures, making it sensitive to gold market and futures trading risks. It is an excess return index rather than a total return index, so it does not reflect interest that could be earned on cash.

The supplement highlights that the index was established on February 11, 2025 and has a limited operating history, emphasizing that historical and backtested performance are not indicative of future results. It also notes that J.P. Morgan Securities LLC coordinated with MerQube in developing the index rules and licenses the index, and reminds investors that notes linked to the index are not bank deposits, are not FDIC insured, and are not guaranteed by a bank.

The MerQube US Gold Vol Advantage Index is a rules-based index that provides exposure to an unfunded rolling position in Gold futures while targeting 35% volatility, with exposure that can range from 0% to 500% of the futures position. The index rebalances monthly based on one-month implied volatility and applies a 6.0% per annum daily deduction, which reduces index levels over time.

The index was established on February 11, 2025, with performance before that date shown as hypothetical backtested data and performance from February 11, 2025 through December 31, 2025 shown as actual. Over the 10-year period ending December 2025, the index shows a 40.16% annualized volatility and a 150.63% one-year return, while the S&P GSCI Gold Official Close Index ER shows lower volatility and returns over the same horizons. All pre-launch figures are backtested and the material repeatedly stresses that historical and backtested performance are not indicative of future results.

The document highlights numerous risks, including significant leverage, the possibility the index may be uninvested at times, gold and futures market risks, concentration risk, and the impact of the ongoing 6% annual deduction. It also notes that J.P. Morgan Securities LLC worked with MerQube on the methodology, and that investing in notes linked to the index involves substantial risk and may not be suitable for all investors.

J.P. Morgan Multi-Asset Index January 2026 update describes how the Index allocates across up to 10 futures-based indices covering equities, fixed income and alternatives in major developed markets. It rebalances at least monthly into the portfolio with the highest recent performance, subject to a volatility threshold and concentration limits, and is subject to a daily deduction equal to 1.00% per annum.

The Index began on November 18, 2022, and combines hypothetical backtested data before that date with actual performance afterward. Over the past 10 years, the Index shows an annualized return of 2.55%, annualized volatility of 4.46% and a Sharpe Ratio of 0.57, compared with a Domestic 30/70 Portfolio (ER) at 3.26% return, 6.31% volatility and 0.52 Sharpe, and a Global 30/70 Portfolio (ER) at 1.84% return, 6.17% volatility and 0.30 Sharpe.

The update also presents recent monthly weights by asset class and region, and detailed monthly returns from January 2016 through December 2025. Extensive risk disclosures highlight the use of backtested data, excess-return construction, momentum strategy risks, potential concentration in bond constituents, derivative and correlation risks, and the fact that all exposures are notional rather than ownership of actual assets.

J.P. Morgan’s Multi-Asset Index is a rules-based benchmark that uses a momentum strategy across futures on U.S. and international equities, fixed income, oil and gold. The document shows monthly and annual Index returns using hypothetical backtested data from February 22, 1994 to November 17, 2022, and actual Index performance from November 18, 2022 through December 31, 2025.

The Index is an “excess return” index, includes a 1.00% per annum daily deduction and was established on November 18, 2022, so it has a limited live history. Historical and backtested returns and allocations are repeatedly described as not indicative of future results, and alternative data sources and simulations were used for earlier periods.

Investing in notes linked to this Index involves multiple risks, including momentum strategy risk, concentration in bond constituents, futures roll and margin risks, correlation risk, non-U.S. market and currency risks, and potential short positions. The notes are not bank deposits, are not FDIC insured and are not approved or disapproved by the SEC or any state regulator.