Every 424B that Alerian MLP Index ETNs due January 28 2044 (AMJB) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow AMJB and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full AMJB filings page.
JPMorgan Chase & Co. is offering $50,000,000 of callable fixed-rate notes due December 21, 2029 that pay interest at 4.20% per year. Interest is paid in arrears on December 23 of each year from 2026 through 2028 and on the maturity date, based on a 30/360 day-count convention. Starting December 23, 2027, and on the 23rd calendar day of March, June, September and December through September 23, 2029, the issuer may redeem the notes in whole at par plus accrued interest.
The notes are unsecured obligations of JPMorgan Chase & Co., not bank deposits and not insured by the FDIC or any government agency. In a resolution of the firm under U.S. bankruptcy or Title II of the Dodd-Frank Act, losses could be imposed on holders of these notes after equity and structurally senior subsidiary creditors. The price to the public is $1,000 per note, with total proceeds to the issuer of $49,874,500 after $125,500 of fees and commissions.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable buffered equity notes linked to the MerQube US Tech+ Vol Advantage Index, in $1,000 denominations, maturing on December 31, 2030.
The notes may be automatically called as early as December 31, 2026 if the index closes at or above 100% of its initial level, paying $1,000 plus a call premium starting at least at 19.10% of principal and rising on later review dates. If held to maturity and not called, investors participate one-for-one in index gains; if the index is flat or down by up to the 15% buffer, principal is returned.
If the index falls more than 15%, repayment is reduced so investors lose 1% of principal for each 1% decline beyond the buffer, up to an 85% loss. The index embeds a 6.0% per annum daily deduction and a notional financing cost on the QQQ Fund, which can significantly drag performance. The notes pay no interest, do not pass through QQQ Fund dividends, and are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated value is currently illustrated at about $908.20 per $1,000 note and will not be less than $900.00 when finalized.
JPMorgan Chase Financial Company LLC is offering $13,836,000 of 10‑year Callable Range Accrual Notes linked to the 10‑Year Constant Maturity Treasury Rate, fully and unconditionally guaranteed by JPMorgan Chase & Co. The Notes pay quarterly interest at a variable rate based on an 8.30% per annum Interest Factor, but only for days when the reference rate is less than or equal to a 5.00% barrier; if the rate is above 5.00% on a given day, no interest accrues for that day, and interest for a period can be zero.
The Notes are issued in $1,000 denominations, with an issue price of $1,000, selling commissions of $25 per Note to UBS and issuer proceeds of $975 per Note. JPMorgan Financial may call the Notes in whole on any quarterly Redemption Date starting December 23, 2026, paying principal plus accrued interest; otherwise, $1,000 principal per Note plus accrued interest is due at maturity on December 23, 2035. The estimated value at pricing was $945.50 per $1,000 Note, and the Notes are intended to be treated as contingent payment debt instruments for U.S. federal income tax purposes.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering 5-year, auto-callable notes linked to the MerQube US Large-Cap Vol Advantage Index. The Index uses leveraged E-Mini S&P 500 futures with a maximum futures exposure of 500% and applies a 6.0% per annum fee that is deducted daily.
The notes can be automatically called after a one-year non-call period if the Index closes at or above a preset call level on any daily review date, paying $1,000 plus a call premium based on a rate that will not be less than 14.00%. If the notes are not called and the Index finishes below a 60.00% barrier, investors will lose more than 40.00% of principal and could lose it all. An estimated value of at least $870.00 per $1,000 note will be set on the pricing date. Payments depend on the credit of both issuing and guaranteeing JPMorgan entities, and investors receive no interest, dividends, or voting rights.
JPMorgan Chase & Co. is offering $25,000,000 of callable fixed rate notes due December 20, 2030. The notes pay fixed interest at 4.25% per annum, with interest payable in arrears on June 20 and December 20 of each year, beginning June 20, 2026.
JPMorgan may redeem the notes early, in whole but not in part, on December 20, 2028 at par plus accrued interest. The price to the public is $1,000 per note, with selling commissions of $1.60 per $1,000, resulting in issuer proceeds of $24,960,000 before other expenses. The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits and are not FDIC insured. In a stress or resolution scenario, holders rank behind creditors of JPMorgan’s subsidiaries and behind priority and secured creditors at the parent company level.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $710,000 of auto callable contingent interest notes linked to the common stock of Exxon Mobil Corporation. Each $1,000 note pays a quarterly contingent interest of $22.50 (a 9.00% per annum rate) for any Review Date on which Exxon Mobil’s share price is at or above 75.00% of the Initial Value of $116.69, an Interest Barrier and Trigger Value of $87.5175.
The notes may be automatically called on specified Review Dates starting June 22, 2026 if Exxon Mobil’s share price is at or above the Initial Value, in which case investors receive $1,000 plus the applicable interest and no further payments. If the notes are not called and the Final Value is below the Trigger Value, repayment of principal is reduced in line with the stock’s decline, and investors can lose more than 25% and up to all of their principal. The notes are unsecured, not listed on an exchange, have limited liquidity, and their value and payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is issuing $4,851,000 of unsecured "Review Notes" due December 24, 2030, linked to the least performing of the Russell 2000 Index, the Nasdaq-100 Technology Sector Index and the Utilities Select Sector SPDR Fund. The notes can be automatically called as early as December 23, 2026 if all three underlyings are at or above their Call Values, paying $1,000 principal plus a call premium that starts at 13% and steps up to 65% by the final review date.
If the notes are never called and, on the final review date, each underlying is at or above its Barrier Amount of 70% of its initial value, investors receive their $1,000 principal back. If any underlying finishes below its barrier, repayment is reduced dollar-for-dollar with the decline in the worst performer, and investors can lose more than 30% and up to all of their principal.
The notes pay no interest and do not provide dividends from the fund or index constituents. They are obligations of JPMorgan Chase Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., and are priced at $1,000 per note with an estimated value of $950.60 at issuance.
JPMorgan Chase Financial Company LLC is offering $15,192,000 of auto callable contingent interest notes linked to the Nasdaq-100, Russell 2000 and S&P 500, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent coupon at a rate of 8.75% per annum (0.72917% per month) for any Review Date on which each index closes at or above 70.00% of its Initial Value, but may pay no interest at all.
Beginning with the June 22, 2026 Review Date, the notes are automatically called if each index is at or above its Initial Value, returning $1,000 per note plus that period’s coupon, with no further payments. If the notes are not called and on the final Review Date any index is below its 70.00% Trigger Value, principal is reduced 1% for each 1% decline of the least performing index, up to a total loss of principal.
The notes are unsecured, unsubordinated obligations of JPMorgan Financial, guaranteed by JPMorgan Chase & Co., and will not be listed on any exchange. The issue price is $1,000 per note, while the estimated value at pricing is $967.70, and secondary market prices are expected to be below the original issue price.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering 5-year, non-call 1-year auto callable accelerated barrier notes linked to the MerQube US Large-Cap Vol Advantage Index, which uses leveraged E‑Mini S&P 500 futures and applies a 6.0% per annum daily deduction.
The notes have a Barrier Amount of 50.00% of the Initial Value and an Upside Leverage Factor of 5.00 for payments at maturity if the notes are not called and the Index ends above its initial level. The notes can be automatically called on scheduled review dates if the Index is at or above the Call Value, paying $1,000 plus a Call Premium that will not be less than 18.90% per annum for the first review date.
Investors may lose a significant portion or all of their principal if the Index finishes below the Barrier Amount and the notes are not called. All payments depend on the credit of JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co., and the estimated value on the pricing date will not be less than $870 per $1,000 note.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $290,000 of Uncapped Accelerated Barrier Notes linked to the S&P 500 Index, maturing on December 24, 2030. The notes provide 1.025x any positive Index return at maturity, with no cap. If the Index finishes at or above 75% of the Initial Value of 6,834.50 (a barrier level of 5,125.875), investors receive at least their $1,000 principal per note. If the Final Value is below the barrier, repayment is fully exposed to Index losses and investors can lose some or all of principal.
The notes pay no interest and do not pass through dividends. They are unsecured, unsubordinated obligations of JPMorgan Financial, subject to the credit risk of both the issuer and guarantor. The price to the public is $1,000 per note, including fees and hedging costs, while the estimated value at pricing was $971.10, and the issuer expects any secondary market prices to be lower than the issue price.
JPMorgan Chase Financial Company LLC is offering $50,000 of auto callable notes linked to the J.P. Morgan Multi-Asset Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes are issued in $1,000 denominations, pay no periodic interest and aim to return full principal at maturity if not called, subject to the credit risks of the issuer and guarantor. They may be automatically called as early as December 22, 2026, paying back $1,000 plus a call premium of 7% on the first Review Date or 14% on the second if the Index reaches specified Call Values.
If the notes are not called, investors receive $1,000 plus 100% of any Index gain at maturity, with no downside participation in Index losses but no inflation protection. The Index incorporates a 1.00% per annum daily deduction and uses a momentum-based, volatility-targeting strategy across equity, bond and commodity futures. The price to public is $1,000 per note, while the estimated value is $959.90, reflecting embedded costs, and the notes are expected to settle on or about December 24, 2025.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $425,000 of auto callable contingent interest notes linked to Caterpillar Inc. common stock, maturing December 23, 2027. The notes pay a contingent quarterly interest rate of 12.00% per annum (3.00% per quarter) only when Caterpillar’s share price on a Review Date is at or above 65.00% of the Initial Value, and they may be automatically called as early as June 22, 2026 if the share price is at or above the Initial Value.
If the notes are not called and Caterpillar’s final share price is below the Trigger Value, set equal to 65.00% of the Initial Value, investors lose principal in line with the stock’s decline and could lose their entire investment. The notes are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and they do not pay dividends or offer participation in any stock gains beyond the contingent interest. The price to public is $1,000 per note, while the estimated value at pricing was $966.70, reflecting built-in selling commissions, structuring fees and hedging costs.
JPMorgan Chase & Co. is offering $4,348,000 of Callable Fixed Rate Notes due December 21, 2040. The notes pay fixed interest at 5.40% per annum, with interest paid annually on December 23, beginning in 2026 and ending in 2039, and on the maturity date, based on a 30/360 day count.
JPMorgan may, at its option, redeem the notes in whole (but not in part) at par plus accrued interest on the 23rd calendar day of March, June, September and December of each year, from March 23, 2028 through September 23, 2040. The price to the public is $1,000 per note, with total proceeds to the issuer of $4,324,932 after fees and commissions.
The notes are senior unsecured obligations of JPMorgan Chase & Co., are not bank deposits and are not insured by the FDIC or any governmental agency. In a resolution of JPMorgan Chase & Co. under U.S. bankruptcy or Title II of the Dodd-Frank Act, losses would be imposed first on equity holders and then on unsecured creditors, including holders of these notes, and recovery could be limited.
JPMorgan Financial, fully guaranteed by JPMorgan Chase & Co., is offering $692,000 of unsecured structured notes linked to the MerQube US Tech+ Vol Advantage Index, maturing December 24, 2030. The notes can be automatically called as early as December 23, 2026 if the Index is at or above the Call Value, paying back $1,000 plus a fixed Call Premium that starts at 12% and steps up to 60% by the final review date.
If never called, investors are protected against Index declines up to a 30% buffer, but can lose up to 70% of principal at maturity if the Index falls more than 30%. The Index embeds a 6.0% per annum daily deduction and a notional financing cost, which drag performance versus a similar index without these charges. The notes pay no interest or dividends; the price to public is $1,000 per note, while the estimated value at pricing is $907.70 per $1,000.
JPMorgan Chase & Co. is offering $9,600,000 of callable fixed rate notes due December 22, 2045. The notes pay interest annually at a fixed rate of 5.65% per annum, using a 30/360 day count, with interest paid each December 23 starting in 2026 and on the maturity date. At maturity, if the notes have not been called, investors receive their principal plus any accrued and unpaid interest.
JPMorgan may redeem the notes early, in whole but not in part, on June 23 and December 23 of each year from December 23, 2027 through June 23, 2045 at par plus accrued interest. The public offering price is $1,000 per note, with per-note fees of $6.406 and total proceeds to the issuer of $9,538,500. 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 first by equity holders and then by unsecured creditors, including holders of these notes.
JPMorgan Chase & Co. is offering $1,536,000 principal amount of callable zero coupon notes due December 23, 2050. The notes are issued at an original price of $222.638 per $1,000 principal amount and do not pay periodic interest. Instead, value builds through accretion at a 6.10% annual yield to maturity, compounded semiannually, with 100% of the outstanding principal amount payable at maturity if the notes have not been called.
Beginning on December 23, 2027 and every June 23 and December 23 through June 23, 2050, JPMorgan may redeem the notes in whole at the applicable accreted principal amount shown in the accretion schedule. The offering price includes hedging costs and selling commissions, with per-note proceeds to the issuer of $215.234. These unsecured obligations involve significant risks, including potential loss absorption in a resolution scenario and limited secondary market liquidity.
JPMorgan Chase & Co. is offering $2,000,000 of callable fixed-rate notes due December 21, 2035. The notes pay fixed interest at 4.80% per annum, with interest paid in arrears each December 23 from 2026 through 2034 and at maturity, using a 30/360 day count. Each note has a $1,000 principal amount.
The issuer may redeem the notes in whole, but not in part, on June 23 and December 23 of each year from December 23, 2027 through June 23, 2035 at par plus accrued interest, so investors face reinvestment risk if the notes are called early. The notes are senior unsecured obligations of JPMorgan Chase & Co., not bank deposits and not FDIC-insured.
The pricing table shows a price to the public of $1,000 per note, underwriting fees of $20 per note and issuer proceeds of $980 per note, or $1,960,000 in total. The disclosure highlights that in a resolution of JPMorgan Chase & Co. under U.S. bankruptcy or Title II of Dodd-Frank, losses would be borne first by equity holders and then by unsecured creditors, including holders of these notes, whose claims are structurally junior to creditors of subsidiaries.
JPMorgan Chase & Co. is offering $1,000,000 of Callable Step-Up Fixed Rate Notes due December 23, 2043. The notes pay annual interest in arrears at fixed step-up rates of 5.30% from December 23, 2025 to December 23, 2031, 5.40% to December 23, 2037 and 5.50% to December 23, 2043, based on a 30/360 day-count. JPMorgan may redeem the notes in whole on March, June, September and December 23 each year from September 23, 2028 through September 23, 2043 at par plus accrued interest. The price to the public is $1,000 per note, with selling commissions of $20.75 per $1,000 and proceeds to the issuer of $979.25 per note, or $979,250 in total. The notes are unsecured obligations of JPMorgan Chase & Co., subject to resolution and bankruptcy risks described in the risk and resolution plan disclosures.
JPMorgan Chase & Co. is offering $10,071,000 of callable fixed-rate notes due December 23, 2055. The notes pay interest at 5.55% per year, with payments made annually on December 23 starting in 2026, using a 30/360 day count convention. At maturity, investors receive the principal plus any accrued and unpaid interest if the notes have not been redeemed earlier.
Starting June 23, 2030, and on each June 23 and December 23 thereafter through June 23, 2055, JPMorgan may redeem all, but not part, of the notes at par plus accrued interest. The price to the public is $1,000 per note, with selling commissions of $21.383 per $1,000 and proceeds to JPMorgan Chase & Co. of $9,855,652.50 before other expenses.
The notes are unsecured obligations of JPMorgan Chase & Co. and are not bank deposits or FDIC insured. In a resolution scenario under U.S. bankruptcy or Title II of the Dodd-Frank Act, losses would be borne first by equity holders and then by unsecured creditors, including holders of these notes, and recoveries could be limited.
JPMorgan Chase & Co. is offering callable fixed rate notes due December 20, 2030. The notes pay interest at a fixed 4.25% per annum, calculated on a 30/360 day-count basis, with interest paid in arrears on June 20 and December 20 of each year, beginning June 20, 2026, until the maturity date or an earlier redemption.
The issuer may redeem the notes early on December 20, 2028 at par plus accrued and unpaid interest, in whole but not in part, with at least five business days’ notice. At maturity, if the notes have not been called, investors receive the principal amount plus any accrued and unpaid interest. The notes are unsecured obligations of JPMorgan Chase & Co., rank junior to creditors of its subsidiaries, are not bank deposits and are not insured by the FDIC or any government agency. The tax opinion treats the notes as fixed-rate debt instruments for U.S. federal income tax purposes.
JPMorgan Chase & Co. is offering $2,500,000 of callable fixed rate notes due December 21, 2029, paying 4.00% interest per year on a 30/360 basis. Interest is paid annually on December 23, starting in 2026 and continuing to 2028, with a final payment at maturity if the notes have not been called. Beginning December 23, 2027, and on the 23rd of March, June, September and December through September 23, 2029, the issuer may redeem all of the notes at par plus accrued interest.
The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits, and are not insured by the FDIC or any other government agency. The price to the public is $1,000 per note; after $7.50 per note in selling commissions, the issuer expects proceeds of $2,481,250. The disclosure highlights that in a bankruptcy or Title II resolution, losses would be borne first by equity and then by unsecured creditors, including holders of these notes, and that recovery could be limited.
JPMorgan Chase & Co. is offering $8,527,000 of callable fixed-rate notes due December 23, 2037. The notes pay interest at a fixed rate of 5.10% per annum on a 30/360 basis, with interest paid annually in arrears each December 23, starting in 2026, until maturity or earlier redemption.
Beginning December 23, 2027 and on each June 23 and December 23 thereafter through June 23, 2037, JPMorgan may redeem all (but not part) of the notes at 100% of principal plus accrued interest. At maturity, investors receive their principal plus any accrued and unpaid interest if the notes have not been called.
The notes are issued at $1,000 per note, with total price to the public of $8,526,910 and proceeds to JPMorgan of $8,415,126.50 after fees and commissions. They are unsecured obligations of JPMorgan, are not bank deposits, are not FDIC insured, and could be exposed to loss in a resolution scenario where unsecured creditors, including noteholders, bear losses ahead of subsidiary creditors and secured or priority claims.
JPMorgan Chase & Co. is offering $6,040,000 of callable fixed rate notes due December 21, 2040. The notes pay interest at a fixed rate of 5.25% per annum, with interest payable annually on December 23, beginning in 2026 and continuing to the maturity date, unless the notes are redeemed earlier. For each $1,000 principal amount, annual interest is calculated as $1,000 × 5.25% × a 30/360 day count fraction.
Beginning December 23, 2027 and on June 23 and December 23 of each year through June 23, 2040, JPMorgan may redeem the notes in whole at par plus accrued interest, on at least five business days’ notice. The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits, and are not insured by the FDIC or any government agency. The price to the public is $1,000 per note, with selling fees and commissions reducing net proceeds to the issuer to $5,947,320.
The disclosure highlights that in a stressed resolution scenario under U.S. bankruptcy or Title II of the Dodd-Frank Act, losses would be borne first by equity holders and then by unsecured creditors, including holders of these notes, who rank behind creditors of JPMorgan’s subsidiaries and secured and priority creditors.
JPMorgan Chase & Co. is offering $2,000,000 of callable step-up fixed rate notes due December 21, 2035. These notes pay fixed annual interest in arrears, starting at 4.75% per annum from December 23, 2025 to December 23, 2030, 5.00% per annum from December 23, 2030 to December 23, 2033, and 6.00% per annum from December 23, 2033 to maturity.
The issuer may redeem the notes in whole, but not in part, on June 23 and December 23 of each year from December 23, 2027 through June 23, 2035 at par plus accrued interest, so investors face reinvestment risk if the notes are called early. Interest is calculated on a 30/360 day count basis, with interest paid each December 23 beginning in 2026 and on the maturity date.
The price to the public is $1,000 per note, with $10 in selling commissions per $1,000, resulting in proceeds to the issuer of $1,980,000. The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits, are not FDIC-insured, and would rank behind creditors of its subsidiaries in a resolution scenario, which could limit recovery for holders.
JPMorgan Chase & Co. is offering $3,060,000 of callable fixed-rate notes due June 23, 2038. The notes pay interest at a fixed rate of 5.00% per year, with interest payable annually on December 23 starting in 2026 and on the maturity date, using a 30/360 day count convention.
JPMorgan may redeem the notes early, in whole but not in part, on June 23 and December 23 of each year from December 23, 2027 through December 23, 2037, at 100% of principal plus accrued interest. The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits and are not insured by any government agency.
The price to the public is $1,000 per note, including hedging costs, with selling commissions of $20.654 per $1,000 note. JPMorgan expects to receive proceeds of $2,996,800 before other expenses. The documents highlight that in a bankruptcy or regulatory resolution scenario, holders of these notes are unsecured creditors and may face significant loss.
JPMorgan Chase & Co. is offering $16,200,000 of callable fixed rate notes due December 23, 2037. The notes pay fixed interest at 5.00% per annum, with interest on each $1,000 principal amount paid annually on December 23, beginning in 2026. Starting December 23, 2030, and on each June 23 and December 23 thereafter to June 23, 2037, JPMorgan may redeem all (but not part) of the notes at par plus accrued interest.
The public offering price is $1,000 per note, with selling commissions of $12.242 per $1,000 and estimated proceeds to the issuer of $16,001,500. The notes are unsecured obligations of JPMorgan Chase & Co., structurally subordinated to subsidiary creditors and not insured by the FDIC. In a JPMorgan resolution under U.S. bankruptcy or Dodd-Frank regimes, holders could face losses and recover only after priority and secured creditors are fully repaid.
JPMorgan Chase & Co. is offering $20,000,000 of Callable Fixed Rate Notes due December 22, 2045. The notes pay fixed interest at 5.45% per annum, with interest payable annually on December 23 starting in 2026 and on the maturity date, using a 30/360 day-count convention.
The issuer may redeem the notes early, in whole but not in part, on June 23 and December 23 of each year from December 23, 2028 through June 23, 2045 at par plus accrued interest. Each note has a $1,000 principal amount, with a public offering price of $1,000 per note (or $997.50 for certain institutional or fee-based accounts). Underwriting fees are $23.549 per $1,000 note, resulting in total proceeds to the issuer of $19,528,750.
The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits, and are not insured by the FDIC or any other governmental agency. Holders are exposed to issuer credit risk and to potential loss in a bankruptcy or regulatory resolution scenario, as described in the resolution and risk discussions.
JPMorgan Chase & Co. is issuing $15,200,000 Callable Fixed Rate Notes due December 21, 2035. The notes pay fixed interest at 5.10% per annum, calculated on a 30/360 basis, with interest paid annually on December 23 from 2026 through 2034 and at maturity, for each $1,000 principal amount.
The issuer may redeem the notes early, in whole but not in part, on June 23 and December 23 of each year from December 23, 2027 through June 23, 2035 at par plus accrued interest. The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits and are not insured by the FDIC or any government agency.
Under JPMorgan’s preferred “single point of entry” resolution strategy, losses in a severe stress or failure scenario would be borne first by equity holders and then by unsecured creditors, including holders of these notes, whose claims are structurally junior to creditors of JPMorgan’s subsidiaries and to priority and secured creditors.
JPMorgan Chase & Co. is offering $13,240,000 of callable fixed rate notes due December 23, 2030. The notes pay fixed interest at 4.20% per annum, with interest paid annually on December 23, starting in 2026, based on a 30/360 day count. Beginning December 23, 2027 and on each June 23 and December 23 through June 23, 2030, the issuer may redeem the notes at par plus accrued interest.
The notes are unsecured obligations of JPMorgan Chase & Co., structurally junior to creditors of its subsidiaries and are not bank deposits or FDIC insured. Under the firm’s preferred “single point of entry” resolution strategy, losses in a stress scenario would be borne first by equity holders and then by unsecured creditors, including noteholders. The price to the public is $1,000 per note, with selling commissions up to $7.35 per $1,000 and total issuer proceeds of $13,145,550 before hedging and other costs. The notes are expected to be treated as fixed-rate debt for U.S. federal income tax purposes.
JPMorgan Chase Financial Company LLC is offering $315,000 of auto callable contingent interest notes linked to the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a monthly contingent coupon at a rate of 7.00% per annum if, on the relevant review date, the Index closes at or above 85% of its initial level. The notes are automatically called on quarterly review dates if the Index is at or above its initial level, with the earliest possible call on December 18, 2026. If the notes are not called and the Index finishes below 63% of its initial level at maturity, investors lose 1% of principal for each 1% Index decline and can lose their entire investment. The notes are unsecured, not FDIC insured, and the estimated value at pricing was $973.10 per $1,000 versus a $1,000 issue price, reflecting embedded fees and hedging costs.
JPMorgan Chase Financial Company LLC is offering $1,011,000 of capped notes linked to the least performing of the S&P 500 Index, the Russell 2000 Index and the Nasdaq-100 Index, maturing on December 21, 2029 and fully guaranteed by JPMorgan Chase & Co.
For each $1,000 note, investors receive full principal repayment at maturity, subject to the credit risk of the issuer and guarantor, plus an Additional Amount equal to 150% of the least performing index’s positive return, capped at $250 (a 25.00% maximum gain). If any index finishes at or below its initial level, no Additional Amount is paid and investors only receive principal back, with no adjustment for inflation.
The notes do not pay interest or dividends, are unsecured and unsubordinated, and will not be listed on any exchange, so liquidity will depend on dealer willingness to buy. The price to the public is $1,000 per note, including fees and structuring costs, while the estimated value at issuance is $943.70, reflecting internal funding and hedging assumptions. Tax treatment is expected to follow contingent payment debt instrument rules, requiring accrual of original issue discount over the life of the notes.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured Buffered Digital Notes linked to the least performing of the Dow Jones Industrial Average®, Russell 2000® Index and S&P 500® Index, maturing on January 14, 2027. The notes target a fixed contingent digital return of at least 5.15% per $1,000 at maturity if the final level of each index is at or above its initial level, or down by no more than the 30.00% buffer. If any index falls by more than 30%, principal is reduced 1% for each 1% drop beyond the buffer, with losses up to 70% of principal.
Investors receive no interest or dividends, and payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co. The preliminary estimated value is about $989.60 per $1,000 note and will not be less than $900. Key risks include market declines, exposure to small‑cap stocks via the Russell 2000®, limited liquidity, potential conflicts of interest, secondary prices below issue price, and uncertain U.S. tax treatment.
JPMorgan Chase Financial Company LLC is offering buffered digital notes linked to the least performing of the Dow Jones Industrial Average, the Russell 2000 Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on July 14, 2027 and are unsecured, unsubordinated obligations.
If the final level of the least performing index is at or above its initial level, or down by no more than 20.00%, investors receive a fixed Contingent Digital Return of 11.50%, or $1,115 per $1,000 note. If any index falls by more than 20.00%, principal is reduced 1% for each percentage point decline beyond the 20.00% buffer, up to an 80.00% loss. The indicative estimated value is about $987.90 per $1,000, and will not be less than $900 when set. The notes pay no interest, provide no index dividends, are not FDIC insured, will not be listed, and expose holders to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., as well as complex tax treatment.
JPMorgan Chase Financial Company LLC is offering buffered digital notes linked to the least performing of the Dow Jones Industrial Average®, the Russell 2000® Index and the S&P 500® Index, maturing April 14, 2027 and guaranteed by JPMorgan Chase & Co.
The notes target a fixed return of at least 7.80% at maturity per $1,000 note if the final level of the least performing index is at or above its initial level, or down by no more than 25.00%. In that case, investors receive $1,078 per $1,000 note, regardless of how far any index has risen within that range.
If any index ends more than 25.00% below its initial level, principal is exposed to losses on a one-for-one basis beyond the buffer, down to a minimum of $250 per $1,000 note, so up to 75.00% of principal can be lost. The notes pay no interest, do not provide index dividends, are unsecured, and depend on the credit of both JPMorgan Financial and JPMorgan Chase & Co. The estimated value is illustrated at approximately $988.80 per $1,000 note and will not be less than $900 at pricing.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering uncapped accelerated barrier notes linked to the least performing of the Dow Jones Industrial Average®, the Nasdaq-100 Index® and the S&P 500® Index, due January 4, 2030. The notes are expected to price on or about December 30, 2025 and settle on or about January 5, 2026, in minimum denominations of $1,000.
At maturity, if all three indices finish above their initial levels, investors receive $1,000 plus the least-performing index’s gain multiplied by an upside leverage factor of at least 1.5675. If any index finishes at or below its initial level but all remain at or above 70% of their initial values, principal is returned. If any index closes below this 70% barrier, 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 principal. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and their estimated value on the pricing date is expected to be below the $1,000 issue price, illustrated at approximately $967.30 and not less than $930.00 per $1,000 note.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering market-linked, auto-callable notes tied to the lowest performer of the S&P 500, Russell 2000 and Nasdaq‑100 indices, with principal at risk.
The notes have a $1,000 denomination and can be automatically called on January 5, 2027 if the lowest index is at or above its starting level, paying $1,090 per note, a fixed 9.00% call premium. If not called, the January 4, 2028 maturity payout depends on the worst index: leveraged upside at an upside participation rate of at least 112.50% if it rises, a positive “absolute return” up to 20% if it falls but not more than the 20% buffer, and 1‑for‑1 losses beyond that buffer, with investors potentially losing up to 80% of principal.
The notes pay no interest, are designed to be held to maturity, and have no exchange listing. The preliminary estimated value is approximately $963.80 per note and will not be less than $930.00, below the $1,000 price to public, reflecting selling commissions of $23.25 and hedging and structuring costs, as well as issuer and guarantor credit risk.
JPMorgan Chase Financial Company LLC is offering $900,000 of auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent coupon at a rate of 8.00% per annum, but only for review dates when the index closes at or above 56% of its initial level, and missed coupons can be paid later if conditions are again met.
The notes can be automatically called as early as December 18, 2026 if the index is at or above its initial value on certain review dates, returning $1,000 per note plus due interest. If held to maturity and not called, investors are protected only down to 85% of the initial index level; below that buffer, principal is reduced 1% for every additional 1% index loss, for up to an 85% loss of principal. The underlying index tracks leveraged exposure to the Invesco QQQ Trust with a 6.0% per annum daily deduction and a notional financing cost, which together create a persistent drag on index performance. The notes are unsecured obligations subject to the credit risk of both the issuer and the guarantor.
JPMorgan Chase & Co. is offering callable fixed rate notes due December 22, 2045. The notes pay fixed annual interest at a rate of 5.60% per annum, calculated on a 30/360 day count basis, with interest paid in arrears each December 23, beginning in 2026 and ending on the maturity date. Beginning December 23, 2027, and on the 23rd calendar day of June and December each year through June 23, 2045, JPMorgan may redeem the notes in whole at par plus accrued and unpaid interest. At maturity, if the notes have not been called, investors receive the principal amount plus any accrued and unpaid interest. The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits, and are not insured by the FDIC or any other governmental agency. The materials highlight significant risk factors, including resolution and creditor hierarchy risks in a stress or failure scenario.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are scheduled to mature on January 30, 2031 and are issued in minimum denominations of $1,000.
Holders receive a contingent monthly interest payment only if, on each Review Date, the Index closes at or above 75% of its Initial Value, with missed coupons potentially paid later if the barrier is met. The notes are automatically called if, on certain Review Dates starting January 27, 2027, the Index closes at or above its Initial Value, returning principal plus due coupons.
If the notes are not called and the Index finishes below an 85% Buffer Threshold, investors lose 1% of principal for each 1% decline beyond the 15% buffer, for a potential loss of up to 85% of principal. The underlying Index targets 35% volatility with up to 500% leverage and is reduced by a 6.0% per annum daily deduction and a notional financing cost, which drag on performance. The estimated value is indicated at about $909.70 per $1,000 note, and will not be less than $900.00, and all payments are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering callable contingent interest notes linked to the worst performer of 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 monthly contingent coupon only if, on a Review Date, each index closes at or above 70% of its Initial Value; otherwise no interest is paid for that period. If the notes are not redeemed early and, on the final Review Date, any index is below 60% of its Initial Value, investors lose 1% of principal for each 1% decline in the Least Performing Index, up to a total loss of principal.
The issuer can redeem the notes early, in whole, on specified Interest Payment Dates starting March 26, 2026, returning $1,000 per note plus any due contingent interest. The preliminary estimated value is approximately $979.70 per $1,000 note and will not be less than $900.00, reflecting embedded fees, hedging costs and the issuer’s internal funding rate.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, maturing on January 3, 2031 and fully guaranteed by JPMorgan Chase & Co. The notes pay a monthly Contingent Interest Rate of at least 9.00% per annum if, on a Review Date, the Index is at or above an Interest Barrier of 68.00% of the Initial Value. Missed coupons can be paid later if the barrier is met on a future Review Date.
The notes may be automatically called as early as December 29, 2026 if the Index is at or above its Initial Value, returning principal plus the applicable coupon and any unpaid coupons. At maturity, if not called and the Index is below the 85.00% Buffer Threshold, investors lose 1% of principal for each 1% decline beyond a 15.00% Buffer Amount, up to a maximum loss of 85.00%.
The Index dynamically leverages exposure to the Invesco QQQ TrustSM, Series 1 up to 500%, but its performance is reduced by a 6.0% per annum daily deduction and a daily notional financing cost. The estimated value of the notes, if priced today, would be approximately $908.90 per $1,000 principal amount and will not be less than $900.00, and payments are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable notes linked to the J.P. Morgan Multi-Asset Index, a diversified, rules-based futures index that includes a 1.00% per annum daily deduction. The notes target investors seeking potential early redemption at a premium and full principal repayment at maturity, but who are willing to forgo periodic interest and accept issuer and guarantor credit risk.
The notes can be automatically called on annual Review Dates starting December 31, 2026 if the Index closes at or above preset Call Values. In that case, investors receive $1,000 plus a Call Premium Amount of at least 6.25%, 12.50%, 18.75% or 25.00% of principal on successive Review Dates. If not called, at maturity on January 3, 2031 investors receive $1,000 plus an uncapped Additional Amount equal to the Index Return times a 100% participation rate, floored at zero.
The notes are unsecured, unsubordinated obligations with minimum denominations of $1,000. If priced today, the estimated value would be approximately $938 per $1,000, and will not be less than $900 when finalized. Key risks include lack of interest, liquidity constraints, complex index and futures-based strategy, possible commodity hedging disruption adjustments, and potential conflicts of interest as an affiliate sponsors and calculates the Index.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $1,442,000 of callable notes linked to the MerQube US Tech+ Vol Advantage Index, maturing on December 23, 2030. Each note has a $1,000 denomination, with a price to the public of $1,000, fees of $44 and net proceeds of $956 per note. The bank’s estimated value is lower, at $904.50 per $1,000 note.
The notes can be automatically called on annual review dates starting in December 2026 if the index is at or above its initial level, paying back $1,000 plus a fixed call premium that ranges from 22.35% on the first review date up to 111.75% on the final review date.
If never called, principal is protected only down to a 15% buffer. If the index falls by more than 15%, repayment is reduced dollar-for-dollar with losses beyond that level, and investors could lose up to 85% of principal. The index itself includes a 6.0% per annum daily deduction plus a notional financing cost on its QQQ exposure, which systematically drags on performance.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the Nasdaq-100® Technology Sector IndexSM, 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 can pay a monthly Contingent Interest Payment if on a Review Date the closing value of each underlying is at or above 60% of its Initial Value, which is the Interest Barrier.
The notes may be automatically called as early as June 23, 2026 if, on certain Review Dates, each underlying closes 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 any underlying finishes below its Trigger Value (also 60% of Initial Value) on the final Review Date, repayment of principal is reduced one-for-one with the decline of the least performing underlying, potentially down to zero.
The preliminary estimated value is approximately $960.10 per $1,000 note and will not be less than $900.00, reflecting selling commissions, structuring and hedging costs. The notes are unsecured, unsubordinated obligations 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 involve concentrated risks tied to technology and regional banking stocks, as well as ETF tracking and liquidity risks.
JPMorgan Chase Financial Company LLC is offering callable contingent interest notes due January 4, 2029, linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500 indices. Investors receive contingent monthly interest only if the closing level of each index on a review date is at least 70% of its initial value. The contingent interest rate will be at least 7.70% per annum.
The issuer can redeem the notes early, in whole, on certain interest payment dates starting July 2, 2026, paying $1,000 plus any due contingent interest. If held to maturity and any index finishes below its 70% trigger value, repayment of principal is reduced in line with the decline of the least performing index, and investors could lose their entire investment. The notes are unsecured obligations of JPMorgan Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., are not FDIC insured, and will not be listed on an exchange. If priced today, the estimated value would be about $946.20 per $1,000, and will not be less than $900.00 per $1,000 at pricing.
JPMorgan Chase Financial Company LLC is offering callable contingent interest notes linked to the worst performer of 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 are expected to price on or about December 29, 2025, settle on or about January 2, 2026, and mature on July 5, 2028, with minimum denominations of $1,000.
Holders receive a Contingent Interest Payment for any Review Date on which the closing level of each Index is at or above 70% of its Initial Value, and may receive up to 30 such payments at a Contingent Interest Rate of at least 7.15% per year. If the notes are called, beginning July 2, 2026, investors receive $1,000 plus any due contingent interest and no further payments.
If the notes are not redeemed early and the Final Value of the Least Performing Index is at least 60% of its Initial Value, investors receive $1,000 per note plus any final contingent interest; if the Final Value of the Least Performing Index is below 60%, principal is reduced one‑for‑one with that decline, potentially to zero. The indicative estimated value is approximately $948.60 per $1,000 note and will not be less than $900.00, reflecting selling commissions, hedging costs and JPMorgan’s internal funding rate. The notes are unsecured, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., pay no dividends, and will not be listed, so liquidity and secondary prices may be limited.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Callable Contingent Interest Notes linked individually to the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, maturing on January 9, 2031, in minimum denominations of $1,000.
These unsecured notes seek monthly Contingent Interest Payments when, on a Review Date, the closing level of each index is at least 70% of its Initial Value. The issuer may redeem the notes early, in whole, on certain Interest Payment Dates starting July 9, 2026, paying $1,000 per note plus any due contingent interest.
If the notes are not redeemed early and, on the final Review Date, the least performing index is at or above its Trigger Value (60% of Initial Value), investors receive back $1,000 per note plus any final contingent interest. If the least performing index finishes below its Trigger Value, repayment is reduced in line with its loss, and investors can lose some or all principal. If priced on the example date, the estimated value would be about $959.80 per $1,000 note and will not be less than $900.00 per $1,000 at pricing.
JPMorgan Chase Financial Company LLC is offering callable contingent interest notes linked to the lesser performance of the Nasdaq-100® Technology Sector IndexSM and the Russell 2000® Index, maturing in June 2027 and fully and unconditionally guaranteed by JPMorgan Chase & Co.
Investors may receive monthly Contingent Interest Payments only if, on a given Review Date, the closing level of each index is at least 70.00% of its Initial Value (the Interest Barrier). The hypothetical Contingent Interest Rate is 10.70% per annum
If the notes are not redeemed early and the Final Value of either index is below its Trigger Value of 70.00% of Initial Value, the repayment of principal is reduced 1% for each 1% decline in the Lesser Performing Index, down to a potential total loss. The notes are unsecured obligations, not bank deposits, not FDIC-insured, and have limited liquidity. If priced today, the estimated value would be about $977.50 per $1,000 note, and at issuance it will not be less than $900.00 per $1,000 note.
JPMorgan Chase Financial Company LLC is offering callable contingent interest notes linked separately 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. Investors receive a monthly Contingent Interest Payment only when the closing level of each index on a Review Date is at least 70% of its Initial Value, the Interest Barrier.
If the notes are not redeemed early and on the final Review Date the least performing index is at or above its 60% Trigger Value, investors receive their $1,000 principal per note plus any final Contingent Interest Payment. If the least performing index finishes below its Trigger Value, repayment is reduced in line with the index loss, and investors can lose some or all of their principal.
The issuer may redeem the notes early on specified Interest Payment Dates starting July 2, 2026, paying $1,000 per note plus any due Contingent Interest Payment. The hypothetical Contingent Interest Rate is shown as 7.45% per annum, and the current estimated value is approximately $944.80 per $1,000 principal, not less than $900. The notes are unsecured, will not be listed, pay no fixed coupons or dividends, and carry equity market, sector, small‑cap, technology, liquidity and credit risks.
JPMorgan Chase Financial Company LLC is offering structured 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 29, 2027 if the Index closes at or above a preset Call Value on a Review Date, paying back $1,000 plus a Call Premium Amount that starts at at least 16.75% of principal and steps up over time to at least 83.75% at the final Review Date.
If not called, principal is protected only down to a 15% buffer; below that, investors lose 1% of principal for each additional 1% Index decline, up to an 85% loss at maturity. The Index embeds a 6.0% per annum daily deduction and a notional financing cost on its QQQ-based exposure, which drags performance and means the Index will trail an identical index without such charges. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not bank deposits and are not FDIC insured. An indicative estimated value is approximately $907.40 per $1,000 principal amount, and will not be less than $900.00 when finalized.