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

JPMorgan Chase & Co. is offering $1,000,000 principal amount of callable zero coupon notes due December 23, 2045. Each $1,000 principal amount note is issued at $306.557, pays no periodic interest and is designed to accrete at a 6.00% annual yield, compounded semiannually, so that 100% of principal is paid at maturity if the note has not been called.

Beginning December 23, 2027 and on June 23 and December 23 of each year through June 23, 2045, the issuer may redeem all notes at the applicable accreted principal amount shown in the accretion schedule. The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits or FDIC insured, and in a resolution or bankruptcy scenario losses would be borne after priority and secured creditors. The notes are issued with original issue discount for U.S. federal tax purposes.

JPMorgan Chase & Co. is offering $2,000,000 of callable fixed rate notes due June 23, 2034. The notes pay interest at a fixed rate of 4.55% per annum, calculated on a 30/360 day count basis, with interest paid annually on December 23 from 2026 through 2033 and on the maturity date.

JPMorgan may redeem the notes early, in whole but not in part, on the 23rd day of March, June, September and December of each year from December 23, 2027 through March 23, 2034 at par plus accrued interest. At maturity, if not previously redeemed, investors receive their principal plus any accrued and unpaid interest.

The public offering price is $1,000 per note, with selling commissions of $16.825 per $1,000, resulting in total proceeds to the issuer of $1,966,000. 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.

JPMorgan Chase Financial Company LLC is issuing $748,000 of Uncapped Dual Directional Buffered Return Enhanced Notes linked to the lesser performing of the Dow Jones Industrial Average® and the Nasdaq-100 Index®, maturing on December 22, 2028 and fully guaranteed by JPMorgan Chase & Co.

The notes provide 1.335x leveraged upside if both indices finish above their initial levels. If the lesser performing index is flat or down by up to 15%, investors receive a positive return equal to the absolute decline, up to a 15% gain, capping the payment at $1,150 per $1,000 note in negative-return scenarios. If either index falls by more than 15%, principal is reduced 1% for each additional 1% decline, with up to 85% of principal at risk.

The notes pay no interest, do not provide dividends on index constituents, and expose holders to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The price to the public is $1,000 per note, including $3 in selling commissions, while the estimated value is $988.10 per $1,000, and the notes are not expected to be listed, limiting liquidity.

JPMorgan Chase Financial Company LLC is offering $685,000 of Uncapped Buffered Return Enhanced Notes linked to the lesser performance of the Russell 2000 Index and the S&P 500 Index, maturing June 24, 2027, and fully guaranteed by JPMorgan Chase & Co.

The notes provide 1.04x participation in any gain of the weaker index at maturity, with a 20% downside buffer. If either index falls more than 20%, investors lose 1% of principal for each 1% drop beyond that level, up to an 80% loss. The notes pay no interest, do not provide dividends from the underlying stocks, and are unsecured obligations exposed to the credit risk of both JPMorgan entities.

The price to the public is $1,000 per note, including $3 in selling commissions, for issuer proceeds of $682,945. The estimated value at pricing was $992.40 per $1,000 note, reflecting issuance, structuring, and hedging costs that may also weigh on secondary market prices.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the common stock of Salesforce, Inc. (CRM), maturing on December 28, 2027. These unsecured notes target quarterly contingent interest of at least 10.50% per annum (at least $26.25 per $1,000 per quarter) if on a Review Date the Salesforce share price is at or above the Interest Barrier of 65% of the Strike Value, or $172.0095.

The notes may be automatically called on Review Dates from June 22, 2026 onward if the share price is at or above the Strike Value of $264.63, returning $1,000 per note plus due and unpaid contingent interest. If not called, and the final share price is at or above the Trigger Value (also 65% of the Strike Value), investors receive $1,000 plus contingent interest. If the final price is below the Trigger Value, repayment is reduced one-for-one with the stock loss, and investors can lose more than 35% and up to all principal.

The notes do not pay fixed interest, do not provide any Salesforce dividends or voting rights, are not listed on an exchange and carry credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The preliminary estimated value is about $960 per $1,000 note and will not be less than $940, reflecting selling commissions, a structuring fee and hedging costs. U.S. tax treatment is expected to follow a prepaid forward with contingent coupons, and non-U.S. holders may face 30% withholding on contingent interest.

JPMorgan Chase & Co. is offering $10,000,000 of Callable Fixed Rate Notes due December 22, 2045. The notes pay fixed interest at 5.60% per annum, with interest paid in arrears on December 23 of each year, starting December 23, 2026, and on the maturity date.

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, 2045 at par plus accrued interest. At a $1,000 price to the public per note, underwriting fees are $10 per note, so JPMorgan expects net proceeds of $9,900,000.

The notes are unsecured obligations of JPMorgan Chase & Co. and are not bank deposits or FDIC insured. In a resolution of the holding company, losses would be borne first by equity holders and then by unsecured creditors, including holders of these notes, and claims of subsidiary creditors would rank ahead of these notes.

JPMorgan Chase & Co. is offering $5,040,000 of callable fixed rate notes due December 23, 2032. The notes pay fixed interest at 4.50% per annum, with interest paid annually in arrears on December 23 of each year, starting December 23, 2026, based on a 30/360 day count convention.

Beginning December 23, 2027, and on June 23 and December 23 each year through June 23, 2032, JPMorgan may redeem the notes in whole at par plus accrued interest. At maturity, if not called, investors receive the principal plus any accrued and unpaid interest.

The price to the public is $1,000 per note, with underwriting fees and commissions of $7.790 per $1,000, resulting in approximately $5,000,740 in proceeds to the issuer. The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits or FDIC insured, and in a resolution scenario, noteholders rank behind creditors of JPMorgan’s subsidiaries and priority and secured creditors.

JPMorgan Chase Financial Company LLC is issuing $887,000 of structured notes that pay based on the lesser performance of the Dow Jones Industrial Average® and the Russell 2000® Index, maturing on June 24, 2027. Each $1,000 note offers 1.25x upside on any positive move in the weaker index, capped at a Maximum Upside Return of 23.55%, and a dual-direction feature that can pay up to 15.00% if the weaker index is down by up to 15%.

Below this 15.00% buffer, investors lose 1% of principal for each 1% further decline in the lesser performing index, with up to an 85.00% loss of principal. The notes pay no interest or dividends, are unsecured obligations of JPMorgan Financial fully and unconditionally guaranteed by JPMorgan Chase & Co., and are subject to both entities’ credit risk. The notes will not be listed, and secondary market prices are expected to be below the $1,000 issue price, even though the estimated value at pricing was $989.80 per note.

JPMorgan Chase & Co. is issuing $3,000,000 of Callable Step-Up Fixed Rate Notes due December 23, 2031. The notes pay annual interest in arrears, starting December 23, 2026, with step-up rates of 4.20% per annum from December 23, 2025 to December 23, 2028, 4.30% to December 23, 2030 and 4.40% to December 23, 2031, based on a 30/360 day-count.

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, 2031 at par plus accrued interest. The price to the public is $1,000 per note, with total selling commissions of $34,000 and proceeds to the issuer of $2,966,000. The notes are unsecured obligations of JPMorgan Chase & Co. and could be subject to loss in a resolution scenario where external debt absorbs losses ahead of operating subsidiaries.

JPMorgan Chase & Co. is offering $2,270,000 of callable fixed rate notes due December 23, 2033. The notes pay fixed interest at 4.65% per annum, with interest paid in arrears each year on December 23, beginning in 2026, based on a 30/360 day count convention.

Starting December 23, 2027, and on the 23rd of March, June, September and December through September 23, 2033, the issuer may redeem all of the notes at par plus accrued interest. The price to the public is $1,000 per note, with total selling commissions and fees of $17,655 and proceeds to the issuer of $2,252,345.

The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits and are not insured by the FDIC or any government agency. In a resolution of the holding company, claims on the notes would be structurally subordinated to creditors of its subsidiaries and to priority and secured claims, which could limit recoveries for noteholders.

JPMorgan Chase Financial Company LLC is offering 1,506,100 units of Autocallable Leveraged Index Return Notes linked to Broadcom Inc. common stock, each with a $10 principal amount, for a total public offering price of $15,061,000. The notes have a term of about two years and may be automatically called after roughly one year at $12.59 per unit if Broadcom’s stock is at or above the $340.36 starting value on the call observation date.

If not called, investors get 150% of any stock price gain at maturity. If the ending stock price is below the starting value but at or above the $221.23 threshold (65% of the starting value), investors receive a positive return equal to the absolute value of the stock’s percentage decline. If the stock closes below the threshold, investors are exposed 1‑for‑1 to losses and can lose their entire principal. The notes pay no interest or dividends, have limited secondary market liquidity, and all payments depend on the credit of JPMorgan Chase Financial Company LLC and its guarantor, JPMorgan Chase & Co. The estimated value was $9.678 per unit, less than the $10 public offering price.

JPMorgan Chase Financial Company LLC is offering $2,500,000 of auto callable dual directional buffered return enhanced notes linked to the common stock of Oracle Corporation. The notes have $1,000 denominations, an upside leverage factor of 1.50 and a 30.00% contingent buffer against declines in Oracle’s share price.

If Oracle’s closing price on the January 4, 2027 review date is at or above the stock strike price of $191.97, the notes are automatically called and pay $1,000 plus at least a 30.20% call premium per note on January 7, 2027. If not called, the notes mature on December 23, 2027 and can pay leveraged upside on gains or a positive return up to 30.00% even if Oracle’s stock is down within the buffer range.

If Oracle’s final price is more than 30.00% below the strike, investors lose 1% of principal for each 1% further decline and can lose all principal. The notes pay no interest or dividends, are unsecured obligations of JPMorgan Financial guaranteed by JPMorgan Chase & Co., and had an estimated value of $956.70 per $1,000 at pricing, below the $1,000 price to the public.

JPMorgan Chase & Co. is offering $2,500,000 of callable step-up fixed rate notes due December 23, 2053. The notes pay fixed annual interest in arrears on December 23 of each year, starting December 23, 2026, with rates of 5.50% per annum from December 23, 2025 to December 23, 2045, 5.75% per annum to December 23, 2049, and 6.00% per annum to December 23, 2053.

JPMorgan may redeem the notes in whole, but not in part, on June 23 and December 23 of each year from June 23, 2030 through June 23, 2053 at par plus accrued interest. The price to the public is $1,000 per note, with selling commissions of $20.60 per $1,000 and net proceeds to the issuer of $2,448,500.

The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits and are not insured by the FDIC or any government agency. In a resolution of JPMorgan under U.S. bankruptcy or Title II proceedings, holders of the notes rank behind creditors of its subsidiaries and may recover only after priority and secured claims are fully repaid.

JPMorgan Chase & Co. is offering $3,600,000 of callable fixed rate notes due December 22, 2045. The notes pay fixed interest at 5.70% per annum, with interest paid annually in arrears on December 23 from 2026 through 2044 and on the maturity date, using a 30/360 day count convention.

The notes are callable at JPMorgan’s option at par plus accrued interest on June 23 and December 23 of each year from December 23, 2027 to June 23, 2045, in whole but not in part. The public offering price is $1,000 per note, with selling commissions of $4.992 per $1,000 and estimated total proceeds to the issuer of $3,582,000. The notes are unsecured obligations, not bank deposits, not FDIC insured, and in a resolution scenario losses could be imposed on noteholders after equity and ahead of subsidiary creditors.

JPMorgan Chase & Co. is offering $19,400,000 of callable fixed rate notes due December 21, 2035. The notes pay fixed interest at 5.00% per annum, with interest paid annually on December 23, beginning in 2026 and continuing to the maturity date if the notes are not called.

Starting December 23, 2027 and on each June 23 and December 23 through June 23, 2035, JPMorgan may redeem the notes in whole at par plus accrued interest. At maturity, if not previously redeemed, investors receive their principal plus any accrued and unpaid interest.

The notes are unsecured obligations of JPMorgan Chase & Co. and are structurally subordinated to creditors of its subsidiaries and to priority and secured creditors. In a resolution under U.S. bankruptcy or Title II of the Dodd-Frank Act, holders could incur losses and may recover less than the full principal and interest. The price to the public is $1,000 per note, with total proceeds to the issuer of $19,219,000 after $180,845 of fees and commissions.

JPMorgan Chase Financial Company LLC is offering $177,000 of unsecured structured notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called as early as December 24, 2026 if the Index closes at or above the Call Value, paying $1,000 plus a fixed call premium per note.

The notes pay no interest or dividends and expose investors to up to 70% loss of principal at maturity, with only a 30% downside buffer. Index performance is reduced by a 6.0% per annum daily deduction and a notional financing cost, which drag on returns versus the QQQ Fund itself. The price to public is $1,000 per note, including $5 in selling commissions, while the estimated value is $938.20, highlighting embedded costs and risks alongside the complex, leveraged index strategy.

JPMorgan Chase Financial Company LLC is offering $91,000 of auto callable contingent interest notes linked to the MerQube US Gold Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Payment only for Review Dates when the Index closes at or above 60% of its Initial Value, with a Contingent Interest Rate of 13.50% per annum (3.375% per quarter). The notes may be automatically called, starting June 22, 2026, if on any Review Date other than the first and final the Index closes at or above its Initial Value, returning $1,000 per note plus the applicable contingent interest.

If the notes are not called and, on the final Review Date, the Index is below the 60% Trigger Value, investors receive $1,000 plus $1,000 times the Index return, which can result in losing a significant portion or all principal. The MerQube US Gold Vol Advantage Index uses leveraged exposure (up to 500%) to gold futures, applies a 6.0% per annum daily deduction and targets 35% implied volatility, all of which can drag performance. The notes are unsecured, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., will not be listed, and secondary market prices and the $938.70 estimated value per $1,000 note may be below the $1,000 issue price.

JPMorgan Chase Financial Company LLC is offering $2,661,000 of unsecured review notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called as early as December 22, 2026 if the Index closes at or above 90% of its initial level, paying back $1,000 plus a call premium that starts at 18% of principal and rises to 54% by the final review date.

If the notes are not called and the Index finishes on the final review date at or above the 80% barrier, investors receive principal back; if it finishes below the barrier, repayment is reduced one-for-one with the Index decline and investors can lose their entire investment. The Index includes a 6.0% per annum daily deduction, which drags on performance, and the notes pay no interest or dividends. The price to public is $1,000 per note, with an estimated value of $911.40 at pricing.

JPMorgan Chase Financial Company LLC is offering unsecured, autocallable structured notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination and can be automatically called as early as January 2027 if the Index closes at or above 90% of its initial level, paying back $1,000 plus a call premium starting at at least 17.65% of principal and rising to at least 52.95% on the final Review Date.

If the notes are not called and the Index on the final Review Date is at or above 75% of its initial level, investors receive only their principal back; if it is below 75%, repayment is reduced one-for-one with the Index decline, potentially down to zero. The Index embeds a 6.0% per annum daily deduction, which drags performance and can cause declines even when the underlying futures strategy is flat or modestly positive. The estimated value is indicated at about $923 per $1,000 note if priced today and will not be less than $900 at pricing, reflecting selling costs and hedging. Investors forgo interest and dividends, face credit risk of both the issuer and guarantor, limited liquidity, complex tax treatment and significant exposure to leveraged volatility-managed E-mini S&P 500 futures via the Index.

JPMorgan Chase & Co. is offering $2,000,000 of callable fixed rate notes due December 23, 2032. The notes pay interest at 4.60% per annum, calculated on a 30/360 day count basis, with interest paid annually in arrears on December 23 of each year, beginning December 23, 2026, until maturity or earlier redemption. At maturity, investors receive the principal amount plus any accrued and unpaid interest, if the notes have not been called.

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, 2032 at par plus accrued interest. The price to the public is $1,000 per note, with $4 in selling commissions per $1,000 and $1,992,000 in proceeds to the issuer. The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits, are not insured by the FDIC or any government agency, and are structurally junior to creditors of the issuer’s subsidiaries under its stated resolution strategies, meaning noteholders could face losses in a resolution scenario. Tax counsel expects the notes to be treated as fixed-rate debt instruments for U.S. federal income tax purposes.

JPMorgan Chase & Co. is offering $2,201,000 of callable fixed-to-floating rate notes due December 22, 2045. Investors receive 11.25% per annum during the initial interest periods through December 23, 2027, then a floating rate equal to 7.00% minus the Benchmark Rate, multiplied by 1.25, with a minimum interest rate of 0.00% per annum.

The notes are callable at par plus accrued interest on the 23rd of March, June, September and December from December 23, 2027 to September 23, 2045. The price to the public is $1,000 per note, with $50 in fees and commissions, providing JPMorgan Chase & Co. with $2,090,950 in proceeds. Interest after year three is tied to Compounded SOFR or a Benchmark Replacement, and the issuer highlights significant interest rate, liquidity, benchmark transition and tax risks.

JPMorgan Chase Financial Company LLC is offering $506,000 of Uncapped Dual Directional Accelerated Barrier Notes, fully guaranteed by JPMorgan Chase & Co., linked to the Nasdaq-100 Technology Sector, S&P 500 and Russell 2000 indices and maturing on December 24, 2030.

The notes are issued in $1,000 denominations and pay no interest or dividends. At maturity, if all three indices are above their initial levels, investors receive 1.62 times the gain of the worst-performing index. If any index is at or below its initial level but all remain at or above 70% of their initial values, investors get a positive, uncapped return equal to the absolute decline of the worst performer, up to 30%.

If any index finishes below 70% of its initial level, principal is exposed one-for-one to the loss of the worst-performing index and all principal can be lost. The price to public is $1,000 per note, including fees and hedging costs, while the estimated value is $975, and the notes are unsecured, unlisted obligations subject to JPMorgan credit and liquidity risks.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Auto-Callable Dual Directional Trigger PLUS linked to the iShares Bitcoin Trust ETF (IBIT), maturing on January 4, 2028. Each note has a stated principal amount and issue price of $1,000 and pays no interest.

If on the January 7, 2027 redemption observation date the ETF closing price is at or above the initial share price, the notes are automatically redeemed for at least $1,272 per note (at least 127.20% of principal). If not redeemed and the final ETF price is above the initial price, maturity pays $1,000 plus a leveraged upside return with a 150% leverage factor. If the ETF has fallen by no more than 25%, investors receive $1,000 plus an absolute positive return equal to the percentage decline, capped at a 25% gain.

If the final ETF price is below 75% of the initial price, repayment equals $1,000 times the share performance factor, leading to losses greater than 25% and potentially a full loss of principal. The notes are unsecured, unsubordinated obligations, are not listed on any exchange and involve significant risks tied to the high volatility and evolving regulation of bitcoin. The estimated value is indicated at approximately $947.70 per $1,000 note, and will not be less than $920.00 on the pricing date.

JPMorgan Chase Financial Company LLC is offering $1,980,000 of Review Notes linked to the lesser performing of the S&P 500® Equal Weight Index and the EURO STOXX 50® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes may be automatically called as early as December 28, 2026 if the closing level of each index is at or above its Call Value, paying back $1,000 per note plus a Call Premium Amount of 9.50%, 19.00% or 28.50% depending on the Review Date. If not called and on the final Review Date each index is at or above 70% of its Initial Value, investors receive only their principal back.

If the notes are not automatically called and either index finishes below its 70% Barrier Amount, the maturity payment is $1,000 plus $1,000 times the Lesser Performing Index Return, so losses will exceed 30% of principal and can reach 100%. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and the estimated value at pricing was $956.90 per $1,000 note, below the $1,000 price to public.

JPMorgan Chase Financial Company LLC is offering unsecured return notes linked to an unequally weighted basket of the S&P 500® Futures Excess Return Index, the STOXX® Europe 600 Index and the MSCI Emerging Markets Index, maturing on January 28, 2031. The basket is reset at maturity so that the best-performing index gets at least 97% weighting, the second-best at most 3%, and the worst receives 0%. At maturity, investors receive $1,000 × (1 + Basket Return) per note; if the basket has fallen, they lose principal in full proportion to the decline, with the possibility of a total loss.

The notes pay no interest and do not pass through any dividends from the underlying indices. They are issued in $1,000 minimum denominations, are guaranteed by JPMorgan Chase & Co., and are not bank deposits or FDIC insured. The estimated value, if priced today, is about $977.40 per $1,000 note, and will not be less than $940.00 when finalized, reflecting embedded costs and dealer compensation. Key risks highlighted include issuer and guarantor credit risk, correlation among indices, futures-market and emerging-markets risks, liquidity limits, potential early acceleration for change-in-law events, and secondary market prices likely below the original issue price.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering buffered digital notes linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index, maturing on February 4, 2027.

The notes target a fixed contingent digital return of at least 8.45% at maturity per $1,000 note if each index is at or above its initial level, or down by no more than 20%. If any index falls by more than 20%, repayment of principal is reduced 1% for each additional 1% decline in the least performing index, up to a maximum loss of 80% of principal.

The notes are unsecured, unsubordinated obligations with minimum denominations of $1,000, pay no interest, and provide no dividends or index constituent rights. They are not exchange-listed, and secondary market prices are expected to be below the $1,000 issue price. An illustrative estimated value is approximately $989.10 per $1,000 note and will not be less than $900.00 at pricing.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Uncapped Dual Directional Accelerated Barrier Notes linked to the Nasdaq-100 Futures Excess Return Index, maturing on December 29, 2031. The notes target at least 1.80x any positive Index performance at maturity.

If the Index is flat or down but not below 75.00% of the Strike Value, investors receive a positive, uncapped return equal to the Index’s percentage move in absolute value, up to a 25.00% gain (maximum $1,250 per $1,000 note when the Index return is negative. If the Index closes below the 75.00% barrier on the observation date, repayment is fully exposed to losses and investors can lose all principal.

The notes pay no interest, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not be listed on any exchange. The issuer estimates the value at approximately $940 per $1,000 note if priced today, with a minimum estimated value of $920 per $1,000 note when terms are set.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering structured Buffered Digital Notes linked to the worst performer among NVIDIA, Alphabet Class C and Amazon common stock, maturing on January 5, 2027. The notes target a fixed return of at least 19.75% at maturity if each stock’s final price is at or above its initial level, or down by no more than the 20.00% buffer. In that case, investors receive about $1,197.50 per $1,000 note using the illustrative 19.75% digital return.

If any reference stock falls more than 20.00% from its initial value, repayment is reduced one-for-one beyond the buffer, with losses up to 80.00% of principal. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not be listed on an exchange. The estimated value, if priced today, would be about $978.40 per $1,000 note, and at pricing will not be less than $900.00, reflecting selling costs and hedging expenses.

JPMorgan Chase Financial Company LLC is offering Dual Directional Buffered Participation Securities linked to the Nasdaq-100 Index®, fully and unconditionally guaranteed by JPMorgan Chase & Co. These principal-at-risk structured notes pay no interest and are scheduled to mature on April 5, 2027.

At maturity, holders receive $1,000 plus 100% of any positive index performance, subject to a maximum payment of at least $1,122.50 (at least 112.25% of principal) per security. If the index is flat or down by up to the 10.00% buffer, investors earn an “absolute return,” gaining 1% for each 1% decline, up to a positive 10.00% total return.

If the index falls by more than 10.00%, the notes lose value on a 1-for-1 basis beyond the buffer, with a minimum payment at maturity of $100.00 per $1,000 security, so investors may lose up to 90.00% of principal. The preliminary supplement indicates an estimated value of approximately $969.60 per $1,000 security if priced today, and not less than $940.00 on the pricing date, reflecting selling commissions, structuring fees and hedging costs.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering capped buffered equity notes linked to the Class A common stock of Comcast Corporation, maturing in February 2027. The notes let holders participate one‑for‑one in stock gains up to a maximum return of at least 20.85%, while providing a 20% downside buffer.

If Comcast’s share price on the final observation date is at or above its initial level, investors receive their principal plus the stock return, capped at a payment of at least $1,208.50 per $1,000 note. If the stock is down by 20% or less, principal is repaid. Below that level, losses increase proportionally and up to 80% of principal can be lost at maturity. The notes pay no interest or dividends, are unsecured obligations subject to JPMorgan’s and its guarantor’s credit risk, and are expected to price in January 2026. An indicative estimated value is about $965.50 per $1,000 note, and will not be less than $930.00 when finalized.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes due July 1, 2027 linked individually to the Dow Jones Industrial Average, the Nasdaq-100 Technology Sector Index and the Russell 2000 Index. The notes can pay a contingent coupon of at least 10.50% per annum, credited monthly, but only on review dates when each index closes at or above 70% of its initial level.

Starting March 26, 2026, the notes are automatically called if on a review date each index is at or above its initial level, returning principal plus the applicable coupon, with no further payments. If the notes are not called and any index finishes below 70% of its initial level at maturity, investors lose principal in line with the decline of the worst-performing index and could lose the entire amount invested. The notes pay no fixed interest or dividends, are unsecured obligations of the issuer, are not FDIC insured and are not expected to be listed on an exchange, so liquidity will depend on dealer trading.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering callable contingent interest notes linked to the worst performer of three State Street SPDR ETFs: Homebuilders (XHB), Consumer Discretionary (XLY) and Regional Banking (KRE). The notes target a contingent interest rate of at least 11.15% per year, paid quarterly, but interest is only paid for periods in which each ETF stays at or above 70% of its initial value, and missed coupons can be paid later if the condition is later met.

The notes can be called early at the issuer’s option on quarterly interest dates starting June 26, 2026. At maturity in December 2028, if none of the ETFs has fallen below 60% of its initial value, investors receive full principal plus any due contingent interest. If any ETF ends below that 60% trigger, repayment is reduced one-for-one with the loss of the worst-performing ETF, and investors can lose most or all of their principal. The preliminary estimated value is about $960 per $1,000 note, and at issuance it will not be less than $940, reflecting dealer fees, hedging costs and issuer funding spreads.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes due January 4, 2029 linked to the least performing of three underlyings: the Nasdaq-100® Technology Sector IndexSM, the Russell 2000® Index and the VanEck® Semiconductor ETF.

The notes pay a contingent interest rate of at least 12.00% per annum, credited monthly (at least 1.00% per month), but only if on each monthly Interest Review Date the closing value of each underlying is at least 70.00% of its Initial Value. Missed coupons can be made up later if the condition is met. The notes may be automatically called quarterly starting June 29, 2026 if each underlying is at or above its Initial Value, returning $1,000 per note plus the current and any unpaid interest.

If not called, and on the final Review Date each underlying is at or above 70.00% of its Initial Value, investors receive $1,000 plus the final and any unpaid interest. If any underlying finishes below 70.00%, the payoff is $1,000 plus $1,000 times the Least Performing Underlying Return, so investors can lose more than 30% and up to all principal. Minimum denomination is $1,000, and an illustrative estimated value is $966.20 per $1,000 note, with a minimum estimated value at pricing of $930.00 per $1,000. The notes are unsecured, not FDIC insured, may be illiquid and are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., as well as concentrated technology, small-cap and semiconductor sector risks.

JPMorgan Chase & Co. is offering $5,000,000 of callable fixed rate notes due December 23, 2050. The notes pay fixed interest at 5.50% per annum, with interest paid annually on December 23, starting in 2026, using a 30/360 day count. Each $1,000 note pays interest in arrears and returns principal at maturity if not previously redeemed.

Beginning December 23, 2029, and on the 23rd of March, June, September and December through September 23, 2050, the issuer may redeem the notes in whole at par plus accrued interest. The price to the public is generally $1,000 per $1,000 note, with total proceeds to the issuer of $4,894,250 after fees, and a reduced $980 price for certain institutional or fee-based advisory accounts. The notes are unsecured obligations of JPMorgan Chase & Co., structurally junior to subsidiary creditors, and could absorb losses under the firm’s resolution strategies described under U.S. resolution and Dodd-Frank frameworks.

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.