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 Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto-callable Review Notes linked to the MerQube US Tech+ Vol Advantage Index, maturing on January 3, 2031. The notes may be automatically called on scheduled Review Dates starting December 31, 2026 if the Index is at or above 100% of its initial level, paying $1,000 plus a Call Premium Amount that starts at at least 20.650% of principal and can reach at least 103.250% on the final Review Date.
If the notes are not called, a 15% downside buffer applies at maturity: investors receive full principal if the Index is down by no more than 15%, but lose 1% of principal for each 1% Index decline beyond that level, up to an 85% loss. The notes pay no interest and provide no QQQ Fund dividends. The Index includes a 6.0% per annum daily deduction and a notional financing cost, and can use leverage up to 500%, which can magnify losses. The notes are unsecured, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and are not listed. The estimated value, if priced on the indicated date, is approximately $909.60 per $1,000 note, and will not be less than $900.00 per $1,000 at pricing.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the common stock of Exxon Mobil Corporation, maturing on December 23, 2027.
The notes pay a quarterly Contingent Interest Payment of at least $22.50 per $1,000 (a rate of at least 9.00% per annum, or 2.25% per quarter) for any Review Date where Exxon Mobil’s share price is at or above 75.00% of the Initial Value, the Interest Barrier. If the price is below this level, no interest is paid for that quarter.
The notes are automatically called if, on any Review Date other than the first and final, Exxon Mobil’s share price is at or above the Initial Value, returning $1,000 plus the applicable interest. If not called and the Final Value is below the Trigger Value (also 75.00% of the Initial Value), repayment at maturity is reduced dollar-for-dollar with the stock loss, and investors can lose more than 25.00% and up to all principal.
The notes are unsecured, unsubordinated obligations, not listed on any exchange, do not pay dividends, and had an indicative estimated value of approximately $970.00 per $1,000, not less than $950.00, reflecting selling commissions, structuring fees and hedging costs.
JPMorgan Chase Financial Company LLC is offering Capped Enhanced Participation Equity Notes due February 8, 2027, linked to the iShares Semiconductor ETF (SOXX) and fully guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount, pays no interest and is not listed on any exchange.
At maturity, the cash payment depends on the ETF’s performance from the December 16, 2025 initial level of $296.20 to the February 4, 2027 determination date. If the ETF rises, investors receive 4x the positive return, capped at a maximum settlement amount expected to be at least $1,341.60 per $1,000 note, corresponding to a cap level expected to be at least 108.54% of the initial level. If the ETF falls, principal is reduced one-for-one with the ETF’s decline, and investors can lose their entire investment.
The estimated value at pricing is expected between $972.60 and $982.60 per $1,000 note, below the 100% original issue price due to selling commissions of up to 1.13%, structuring and hedging costs. The notes are unsecured obligations exposed to the credit risk of both JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked separately to three ETFs: State Street Energy Select Sector SPDR, VanEck Semiconductor and State Street Utilities Select Sector SPDR, maturing on January 3, 2031.
For each $1,000 note, investors may receive a monthly Contingent Interest Payment of at least $7.9167 (at least 9.50% per annum) if on a Review Date the closing price of one share of each ETF is at or above 70% of its Initial Value; unpaid interest can be caught up later if this condition is met.
The notes are automatically called starting December 29, 2026 if each ETF is at or above its Initial Value, paying $1,000 plus current and any unpaid interest. If held to maturity and any ETF finishes below 60% of its Initial Value, principal is reduced one-for-one with the worst ETF’s loss, and all principal can be lost. The preliminary estimated value is about $918.40 per $1,000 note and will not be less than $900.00.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured Digital Barrier Notes linked to the worst performer of the Nasdaq‑100, Russell 2000 and S&P 500 indices, maturing on January 27, 2027. The notes are expected to price around December 22, 2025 and settle around December 26, 2025 in minimum denominations of $1,000.
If, on the observation date, the final level of each index is at least 60% of its initial level (the Barrier Amount), investors receive principal plus a fixed Contingent Digital Return of at least 7.00%, regardless of how far the indices have risen. If any index finishes below its 60% barrier, repayment is fully at risk: the maturity payment becomes $1,000 plus the return of the least performing index, so losses exceed 40% and can reach a total loss of principal. The preliminary estimated value is about $984.40 per $1,000 note and will not be less than $900.00, reflecting selling commissions, hedging costs and the issuer’s internal funding rate.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering equity-linked review notes tied to the lesser performance of the S&P 500 Index and the Russell 2000 Index, maturing in December 2028. The notes may be automatically called on scheduled review dates starting in December 2026 if the closing level of each index is at or above its applicable call value, paying back $1,000 per note plus a call premium.
Minimum call premiums range from at least 9.35% to at least 28.05% of the $1,000 principal amount, but investors forgo interest and dividends and face downside risk at maturity. If the notes are not called and either index finishes below 70% of its initial level, repayment is reduced one-for-one with the loss on the lesser-performing index, so investors can lose more than 30% and up to their entire principal. The estimated value at pricing is expected to be about $960 per $1,000 note and not less than $940, reflecting embedded costs and hedging.
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, maturing on January 3, 2031. The notes may be automatically called as early as December 31, 2026 if the Index is at or above 100% of its initial level, paying back $1,000 plus a call premium of at least 23.95% on the first review date and up to at least 95.80% on later review dates.
If not called and the Index is above its initial level at final maturity, holders receive $1,000 plus the full Index gain. A 15% downside buffer applies, but if the Index falls by more than 15%, principal is reduced one-for-one beyond that buffer, with up to 85% loss of principal possible. The Index incorporates a 6.0% per annum daily deduction and a notional financing cost that drag on performance, and the notes carry the unsecured credit risk of both the issuer and guarantor. The estimated value is initially about $903.70 per $1,000 note and will not be less than $900.00.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering structured "Review Notes" linked to the MerQube US Tech+ Vol Advantage Index, maturing on December 31, 2030. These notes can be automatically called on scheduled Review Dates starting December 31, 2026 if the Index closes at or above 100% of its initial level, paying back $1,000 plus a Call Premium Amount that starts at 18.2500% of principal and can reach up to 91.2500% by the final Review Date.
The notes have a 15.00% buffer at maturity. If not called and the Index is down by up to 15%, investors receive their $1,000 principal; if it is down by more than 15%, repayment is reduced $1 for every 1% drop beyond that, up to an 85.00% loss of principal. The Index includes a 6.0% per annum daily deduction and a notional financing cost on exposure to the Invesco QQQ TrustSM, Series 1, which together drag on performance and cause the Index to trail an identical index without these charges.
The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are issued in minimum denominations of $1,000, and have an estimated value, if priced today, of approximately $903.90 per $1,000 principal amount, not less than $900.00 when finally set.
JPMorgan Chase Financial Company LLC plans to issue auto callable accelerated barrier notes linked to the least performing of the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, maturing on December 30, 2027 and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called on January 4, 2027 if each index closes at or above its Call Value, in which case investors receive $1,000 plus a Call Premium Amount of at least $120 per note and no further payments.
If not called and each index’s final value exceeds its initial value, investors receive $1,000 plus 2.54 times the appreciation of the least performing index. If any index finishes at or below its initial value but at or above 70% of its initial value, investors receive only their principal. If any index ends below 70% of its initial value, repayment is reduced one-for-one with the least performing index, and investors can lose some or all principal.
The notes pay no interest, do not provide dividends, are unsecured and unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The minimum denomination is $1,000. If priced on the date of the example, the estimated value would be approximately $963.10 per $1,000 note and will not be less than $900.00, reflecting embedded selling commissions and hedging and structuring costs.
JPMorgan Chase Financial Company LLC is offering auto callable accelerated barrier notes linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price on or about December 24, 2025 and mature on December 30, 2027, with a potential automatic call on December 30, 2026 if each index closes at or above its Call Value.
If not called, investors get 2.00 times any positive return of the least performing index at maturity. If any index finishes at or below its Initial Value but at or above 70.00% of its Initial Value, investors receive only the principal back. If any index falls below 70.00% of its Initial Value, repayment is reduced one-for-one with the index loss, down to zero. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and carry limited liquidity and complex tax treatment. The Call Premium Amount will be at least $172.50 per $1,000 note, and the indicative estimated value is approximately $971.40 per $1,000 note, lower than the original issue price.
JPMorgan Chase Financial Company LLC is offering unsecured Callable Contingent Interest Notes due November 29, 2027, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked individually to the Nasdaq‑100® Technology Sector Index, the Russell 2000® Index and the State Street SPDR S&P Regional Banking ETF, with a minimum denomination of $1,000.
Investors may receive monthly Contingent Interest Payments at a rate that will be at least 11.25% per annum, but only when the closing value of each underlying is at or above 70% of its Initial Value (the Interest Barrier. Principal is at risk: if the notes are not redeemed early and the Final Value of the least performing underlying is below 55% of its Initial Value (the Trigger Value), repayment at maturity will be reduced in line with that loss, potentially to zero. The issuer may redeem the notes early on specified dates, beginning March 26, 2026. If priced today, the estimated value would be about $970.60 per $1,000 note and will not be less than $900.00 per $1,000 at pricing.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $4,957,000 of Medium-Term Notes, Series A, Digital Equity Notes due March 17, 2027, linked to the S&P 500® Index. Each note has a $1,000 principal amount, is sold at 100% of principal, pays no interest, and will not be listed on any exchange.
At maturity, if the S&P 500 final level is at least 87.50% of the initial level of 6,800.26, investors receive a fixed $1,089 per $1,000 note (a capped return of 108.90% of principal. Below that threshold, losses are leveraged: for every 1% drop beyond the 12.50% buffer, repayment falls by about 1.1429%, and investors can lose their entire investment. The estimated value at pricing is $983.60 per $1,000 note, lower than the issue price because it includes selling commissions, hedging costs and dealer profits.
The notes are subject to the credit risk of both JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. They involve limited upside, principal-at-risk exposure to the S&P 500, potential illiquidity, complex U.S. tax treatment (including open-transaction treatment and Section 871(m) considerations), and conflicts of interest because JPMorgan and its affiliates structure, hedge, make markets in, and value the notes.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $674,000 of Capped Dual Directional Buffered Equity Notes linked to the lesser performing of the Russell 2000 Index and the S&P 500 Index, maturing in December 2028. The notes provide unleveraged exposure to index moves, with a Maximum Upside Return of 23.40% (maximum payment of $1,234 per $1,000 note) when the lesser performing index finishes above its initial level.
If either index ends flat or down by up to the 30.00% buffer, investors receive a positive return equal to the absolute decline of the lesser performer, capped at a maximum payment of $1,300 per $1,000 note. If either index falls by more than 30%, principal is reduced 1% for each 1% drop beyond the buffer, up to a maximum loss of 70% of principal at maturity. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not listed on an exchange, and had an estimated value at pricing of $963 per $1,000 note, below the $1,000 price to the public.
JPMorgan Chase Financial Company LLC is offering $579,000 of digital barrier notes linked to the lesser performing of the Nasdaq-100 Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes run from the December 19, 2025 original issue date to a scheduled maturity on December 21, 2028. If on the December 18, 2028 observation date the final level of each index is at least 80% of its initial level, investors receive $1,292 per $1,000 note, a fixed 29.20% total return. If either index finishes below its 80% barrier, principal is reduced 1% for each 1% decline of the lesser performing index from its initial level, down to a total loss.
The notes pay no interest, pass through no dividends from index constituents, and are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. They will not be listed on an exchange, and secondary market prices are expected to be below the $1,000 issue price; the estimated value at pricing was $980.80 per $1,000 note.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering structured Review Notes linked to the lesser performance of the Nasdaq-100 Index® and the Russell 2000® Index, maturing on January 3, 2031. The notes may be automatically called as early as December 29, 2026 if the closing level of each index is at or above 100% of its initial level, paying back $1,000 plus a call premium starting at least 10% and rising to at least 50% by the final Review Date.
If the notes are not called and the final level of each index is at or above 70% of its initial level, investors receive their $1,000 principal back. If either index finishes below 70% of its initial level, the payoff is $1,000 plus $1,000 times the return of the lesser performing index, so investors lose 1% of principal for each 1% decline in that index and can lose their entire investment. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not be listed on any exchange. The estimated value, if priced today, is about $950 per $1,000 note and will not be less than $920 at pricing.
JPMorgan Chase Financial Company LLC is offering $500,000 of structured notes linked to the Class A common stock of Roblox Corporation, fully and unconditionally guaranteed by JPMorgan Chase & Co. These capped accelerated barrier notes run to January 14, 2027 and are issued in $1,000 minimum denominations.
The notes provide 2.00 times any positive stock return at maturity, but gains are capped at a maximum 38.00% return, or $1,380 per $1,000 note. The strike value is $99.00, with a barrier set at 50.00% of the strike. If the final stock price is at or above the strike or above the barrier, holders receive their principal back; if it falls below the barrier, repayment is reduced one-for-one with the stock loss, and the entire principal can be lost.
The notes pay no interest and do not provide dividends or shareholder rights in Roblox. The price to the public is $1,000 per note, including $6.50 in selling commissions, and the initial estimated value is $978.20, reflecting embedded costs and hedging-related margins. The notes are unsecured, not insured, and will not be listed on an exchange, so liquidity and secondary market pricing may be limited.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Trigger Autocallable Contingent Yield Notes linked to WTI crude oil futures. Each Note has a $10 principal amount and a minimum purchase of $1,000.
The Notes pay a quarterly contingent coupon at a rate expected to be at least 11.00% per annum if the oil futures contract is at or above a coupon barrier set at $41.96, which is 75.00% of the Initial Value of $55.94. Coupons can be “remembered” and paid later if missed when conditions are later met.
The Notes can be called early if the underlying futures price on an observation date is at or above the Initial Value, in which case holders receive principal plus due and unpaid coupons. If the Notes are not called and the final price is below the downside threshold, the maturity payment is reduced in proportion to the decline, down to a minimum of $0. The estimated value is about $9.751 per $10 Note, and at pricing will not be less than $9.65 per $10. The product involves significant market and credit risk and is not principal protected.
JPMorgan Chase Financial Company LLC is offering $2.17 million of Capped Dual Directional Buffered Equity Notes linked to the lesser performing of the Russell 2000 Index and the S&P 500 Index, maturing in December 2030 and fully guaranteed by JPMorgan Chase & Co. The notes provide unleveraged upside to index gains up to a Maximum Upside Return of 58.80%, and upside exposure to index declines through a 30.00% buffer, so modest losses in the weaker index can still generate positive returns at maturity.
If either index falls by more than 30.00%, investors lose 1% of principal for each additional 1% decline, up to a 70.00% loss of principal. The price to the public is $1,000 per note, including $41.25 in fees and commissions, while the issuer’s estimated value is $946.60 per $1,000, reflecting structuring, distribution and hedging costs. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of both the issuer and guarantor, and will not be listed on any exchange.
JPMorgan Chase Financial Company LLC is offering $806,000 of auto callable contingent interest notes linked to the worst performer among three ETFs: VanEck Semiconductor (SMH), State Street Financial Select Sector (XLF) and iShares U.S. Real Estate (IYR), fully guaranteed by JPMorgan Chase & Co. Each $1,000 note can pay a monthly contingent coupon of $10.6667, equal to a 12.80% per annum rate, but only if on a review date all three ETFs are at or above 60% of their initial prices.
The notes may be automatically called starting June 16, 2026 if each fund is at or above its initial level, in which case investors receive $1,000 plus the coupon and no further payments. If held to the December 21, 2028 maturity and any ETF finishes below its 60% trigger, principal is reduced one-for-one with the decline of the worst performer, and investors can lose most or all of their investment. The price to the public is $1,000 per note, with estimated value of $972.20, reflecting embedded fees, hedging costs and issuer funding assumptions.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $1,200,000 of Digital Barrier Notes linked to the least performing of the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, maturing January 22, 2027. These notes pay a fixed 9.50% return at maturity if, on the January 19, 2027 observation date, the final level of each index is at least 70% of its initial level. If any index finishes below its 70% barrier, repayment is reduced one-for-one with the decline of the worst-performing index, and investors can lose more than 30% and up to all of their principal.
The notes are unsecured, unsubordinated obligations, offered in $1,000 minimums at a price of $1,000 per note, with underwriting fees of $7.25 and issuer proceeds of $992.75 per note. The estimated value at pricing was $983.50 per $1,000, reflecting selling costs and hedging economics. The notes pay no interest or dividends, will not be listed on an exchange, and their value and repayment depend on both index performance and the credit of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering digital barrier notes due June 22, 2027, fully and unconditionally guaranteed by JPMorgan Chase & Co., in an aggregate principal amount of $1,101,000. The notes provide a fixed return of 12.45% at maturity, paying $1,124.50 per $1,000 note, if the final level of the least performing of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index is at or above 70% of its initial level. If any index finishes below this 70% barrier, repayment of principal is reduced one-for-one with the percentage decline of the least performing index, potentially resulting in a total loss. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and are not listed, so liquidity will depend on JPMS’ willingness to make a market. The estimated value at pricing is $970.90 per $1,000 note, below the $1,000 price to the public due to embedded costs and hedging-related factors.
JPMorgan Chase Financial Company LLC is offering digital barrier notes linked to the Nasdaq-100 Index® and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a principal amount of $1,000 each, for a total of $915,000, and mature on December 21, 2027.
Investors receive a fixed 19.70% return at maturity (a payment of $1,197.00 per $1,000 note) if the Final Value of the lesser performing index is at least 80.00% of its Initial Value. If either index finishes below this 80.00% barrier, principal is reduced 1% for every 1% decline of the lesser performing index, and investors can lose all of their investment.
The notes pay no interest, do not provide dividends from index constituents, and will not be listed on any exchange, so liquidity may be limited and secondary market prices are expected to be below the $1,000 issue price. The estimated value at pricing was $981.30 per $1,000 note, reflecting embedded structuring and hedging costs and the issuer’s internal funding rate.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering market-linked notes tied to a global equity index basket, each with a $1,000 principal amount. The price to the public is $1,000 per security, with selling commissions of $25.75 and proceeds to the issuer of $974.25 per security. If priced today, the estimated value would be about $958.40 per security and will not be less than $920.00 when finalized.
The notes mature on July 5, 2028 and reference a basket of five indices: EURO STOXX 50 (40%), Nikkei 225 (25%), FTSE 100 (17.5%), Swiss Market Index (10%) and S&P/ASX 200 (7.5%). They offer 100% upside participation up to a maximum upside return of at least 34.70%, plus a 15% downside buffer and a contingent “absolute return” feature for moderate declines. If the basket falls more than 15%, principal losses become 1‑for‑1 beyond the buffer, with up to 85% loss of principal possible at maturity. The securities are unsecured obligations, not bank deposits and not FDIC insured.
JPMorgan Chase Financial Company LLC is issuing $1,165,000 of callable contingent interest notes due November 19, 2027, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a monthly contingent coupon of 1.08333% (equivalent to 13.00% per annum) for each Review Date on which the S&P 500® Index, Dow Jones Industrial Average® and VanEck® Semiconductor ETF are all at or above 70.00% of their Initial Values. If any underlying is below its Interest Barrier on a Review Date, no interest is paid for that period.
The notes are callable at the issuer’s option on any Interest Payment Date from March 19, 2026 (except the first, second and final dates) at $1,000 plus any due interest. If not called, investors receive at maturity $1,000 plus the final coupon only if each underlying finishes at or above its Trigger Value, set equal to 70.00% of its Initial Value. If any Final Value is below its Trigger Value, the payoff is reduced in line with the worst-performing underlying, and investors can lose more than 30% and up to all of their principal.
The notes are unsecured and unsubordinated obligations of JPMorgan Chase Financial, subject to the credit risk of both the issuer and JPMorgan Chase & Co. The price to public is $1,000 per note, including fees and commissions of $22.25 per $1,000, while the estimated value at pricing is $962.10 per note.
JPMorgan Chase Financial Company LLC is offering $870,000 of Auto Callable Buffered Return Enhanced Notes linked to Alphabet Inc.’s Class C stock. The notes are issued in $1,000 denominations, pay no interest or dividends, and may be automatically called on December 29, 2026 for $1,000 plus a 25.90% call premium per note if Alphabet’s share price is at or above the initial level.
If not called and Alphabet’s final price is above the $307.73 initial price, holders receive leveraged upside of 1.25× the stock gain with no cap. If the final price is at or up to 20% below the initial price, principal is returned; below that buffer, investors lose 1% of principal for each additional 1% decline and can lose their entire investment. The notes are unsecured obligations of JPMorgan Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., carry limited liquidity, and had an estimated value of $976.90 per $1,000 at pricing.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $10,000,000 of auto callable contingent interest notes linked to the least performing of the Nasdaq-100, Russell 2000 and EURO STOXX 50 indices, maturing on December 19, 2030. The notes pay a contingent coupon of $9.00 per $1,000 (a 10.80% annual rate, 0.90% monthly) for any Review Date on which each index stays at or above 70% of its initial level; if any index is below this barrier, no interest is paid for that period.
Starting June 16, 2026, the notes are automatically called if on a Review Date each index is at or above its initial level, returning $1,000 plus the applicable coupon, with no further payments. If held to maturity and all indices are at or above their 70% trigger values, investors receive principal plus the final coupon; if any index finishes below its trigger, repayment is reduced in line with the worst index’s loss, and investors can lose more than 30% and up to all of their principal. The price to public is $1,000 per note, including $4.50 in selling commissions, and the issuer’s estimated value is $968.40 per $1,000.
JPMorgan Chase Financial Company LLC is offering $350,000 of unsecured structured notes, fully and unconditionally guaranteed by JPMorgan Chase & Co., that are linked to the least performing of the S&P 500 Equal Weight Index, the Russell 2000 Index and the State Street Energy Select Sector SPDR ETF and are due December 17, 2029.
The notes may be automatically called as early as December 16, 2026 if each underlying is at or above its call value, paying $1,000 plus a call premium that starts at 12.55% of principal and steps up to 50.20% on the final review date. If the notes are not called and any underlying finishes below 70% of its strike value, investors lose 1% of principal for each 1% decline in the least performing underlying and can lose their entire investment.
The notes pay no interest, do not provide any dividends from the underlyings and are intended for investors willing to take equity and sector risk, including small-cap and energy exposure. The price to the public is $1,000 per note, including $7.50 in selling commissions, and the estimated value at pricing is $971.50 per $1,000 note.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $1,000,000 of Auto Callable Contingent Interest Notes linked to Advanced Micro Devices, Inc. common stock, maturing December 21, 2028. The notes pay a 17.00% per annum contingent interest (about $14.1667 per $1,000 each month) only when AMD’s closing price on a Review Date is at or above the 60.00% Interest Barrier of the Initial Value of $209.17 (i.e., $125.502). Starting June 16, 2026, the notes are automatically called if AMD’s price on certain Review Dates is at or above the Initial Value, returning $1,000 plus that month’s interest. If the notes are not called and AMD’s final price is below the 50.00% Trigger Value of $104.585, investors lose 1% of principal for each 1% AMD is below the Initial Value, up to a total loss. The notes are unsecured, not principal-protected, and were priced at $1,000 with estimated value of $954.60 and proceeds to issuer of $971.50 per $1,000 note.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Trigger Autocallable Contingent Yield Notes linked to the front‑month (or, in some cases, second‑month) WTI crude oil futures contract on NYMEX. Each Note has a $10 principal amount, a term of about one year and a minimum investment of $1,000.
The Notes pay a quarterly contingent coupon of at least 13.20% per annum (about $0.33 per $10 per quarter) only if the futures Contract Price is at or above a Coupon Barrier set at $41.96, which is 75% of the Initial Value of $55.94. Missed coupons may be paid later under a memory feature if the barrier is met on a future Observation Date. The Notes are automatically called if the Contract Price is at or above the Initial Value on any quarterly Observation Date.
If not called, and the Final Value on December 16, 2026 is at or above the same $41.96 Downside Threshold, investors receive full principal plus any due coupons. If the Final Value is below the threshold, repayment is reduced dollar‑for‑dollar with the futures decline, potentially to zero. The estimated value at pricing is expected to be between $9.75 and about $9.844 per $10, reflecting structuring and hedging costs. These unsecured Notes carry both market risk tied to WTI crude oil and the credit risk of JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering capped dual directional buffered equity notes linked to the lesser performing of the Nasdaq-100 Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes provide unleveraged exposure to index gains up to a Maximum Upside Return of at least 19.30%, and to index declines up to a 10.00% buffer, where investors receive the absolute value of the loss at maturity.
If either index falls by more than 10.00%, investors lose 1% of principal for each additional 1% decline, up to a possible 90.00% principal loss. The notes pay no interest or dividends, are unsecured and unsubordinated, and will not be listed on an exchange. If priced on the example date, the estimated value would be about $986.20 per $1,000 note, and the final estimated value will not be less than $900.00 per $1,000, reflecting selling commissions, hedging costs and issuer funding assumptions.
JPMorgan Chase Financial Company LLC is offering review notes linked to the lesser performance of the State Street SPDR S&P Regional Banking ETF and the State Street Energy Select Sector SPDR ETF, with automatic call features and full principal at risk.
The notes may be automatically called as early as December 28, 2026 if each ETF closes at or above its Call Value, paying $1,000 plus a Call Premium Amount of at least 11.50%, 23.00% or 34.50% of principal on successive review dates. If the notes are not called and the lesser-performing ETF finishes below 60.00% of its initial value, repayment at maturity is reduced dollar-for-dollar with the loss, and investors can lose all principal.
The notes pay no interest or dividends, are unsecured obligations guaranteed by JPMorgan Chase & Co., will not be listed on an exchange, and carry credit, market, liquidity and valuation risks. If priced today, the estimated value would be approximately $960.00 per $1,000 note, and the final estimated value will not be less than $940.00 per $1,000 note.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $512,000 of structured Review Notes linked to the least performing of the Dow Jones Industrial Average®, the Russell 2000® Index and the S&P 500® Index, maturing on December 21, 2028. The notes are sold in $1,000 denominations at $1,000 per note, with selling commissions of $29.50 and proceeds to the issuer of $970.50 per note, and an estimated value of $953.20 per $1,000 at pricing.
The notes may be automatically called on review dates in 2026, 2027 or 2028 if each index is at or above its initial level, paying back $1,000 plus a call premium of 7.60%, 15.20% or 22.80% respectively. If not called, at maturity investors receive $1,000 plus the absolute decline of the worst index when all index losses are within a 20% buffer, capped at a maximum payment of $1,200 per $1,000 note. If any index falls by more than 20% from its initial level, principal is reduced beyond the buffer and investors can lose up to 80% of their investment.
The notes pay no interest, do not provide dividends from index components, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and are not expected to be listed, so liquidity will depend on the willingness of J.P. Morgan Securities LLC to make a secondary market at potentially substantial discounts to the issue price.
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 December 23, 2030. The notes pay a monthly Contingent Interest Payment only if, on each Review Date, the closing level of every index is at or above 70% of its Initial Value. The hypothetical Contingent Interest Rate is 9.25% per annum, and the actual rate will be at least this level.
The issuer may redeem the notes early, in whole, on specified Interest Payment Dates beginning December 23, 2026, returning $1,000 per note plus any due contingent interest. If the notes are not redeemed and, on the final Review Date, any index has fallen more than 30% from its Initial Value, the principal repayment is reduced in line with the Least Performing Index’s loss, which can result in a substantial or total loss. The estimated value is approximately $967.10 per $1,000 note and will not be less than $940.00 per $1,000 at pricing, reflecting embedded selling, structuring and hedging costs and the issuer’s internal funding rate.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Capped Buffer GEARS linked to an unequally weighted basket of five equity indices: EURO STOXX 50® (40%), Nikkei 225 (25%), FTSE® 100 (17.5%), Swiss Market Index (10%) and S&P/ASX 200 (7.5%). The notes have a $10 issue price, a minimum investment of $1,000 and an expected term of about two years.
If the basket rises, holders receive principal plus 2x the basket gain, capped by a Maximum Gain between 22.25% and 24.25%. If the basket is flat or down but not below 90% of its initial level, investors receive only their $10 principal. If the basket falls more than the 10% buffer, repayment is reduced dollar-for-dollar with losses beyond that level, up to a 90% loss of principal.
The securities pay no interest, provide no dividends from the underlying indices and are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. Selling commissions are $0.20 per $10, and the estimated value is expected to be below the $10 issue price, reflecting fees and hedging costs.
JPMorgan Chase Financial Company LLC is offering $399,000 of callable contingent interest notes linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index, maturing on December 19, 2030 and fully guaranteed by JPMorgan Chase & Co.
The notes pay a contingent interest rate of 6.25% per annum (0.52083% per month) only on Review Dates when the closing level of each index is at least 60% of its Initial Value. JPMorgan may redeem the notes early, in whole, on certain Interest Payment Dates starting December 21, 2026, returning $1,000 per note plus any due contingent interest.
If the notes are not redeemed and, on the final Review Date, any index is below its 60% Trigger Value, investors receive $1,000 plus $1,000 multiplied by the Least Performing Index return, which can result in significant principal loss, up to a total loss. The notes are unsecured obligations, with an estimated value of $934.30 per $1,000, below the $1,000 issue price due to selling commissions and hedging costs.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the common stock of Broadcom Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Payment for each Review Date when Broadcom’s closing price is at least 70.00% of the Initial Value, and can be automatically called starting on March 30, 2026 if the stock is at or above the Initial Value on certain Review Dates.
If the notes are not called and the Final Value is below the Trigger Value, investors lose 1% of principal for each 1% decline from the Initial Value and can lose their entire investment. The notes are unsecured, not insured by the FDIC, have minimum denominations of $1,000, will not be listed on an exchange, and an illustrative estimated value is about $962.80 per $1,000 note, with a minimum final estimated value of $930.00 per $1,000 at pricing.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering digital contingent buffered notes linked to the lesser performing of the Russell 2000 Index and the Nasdaq-100 Index. The notes are designed to pay a fixed return, the Contingent Digital Return, of at least 11.90%, giving a maximum payment of $1,119 per $1,000 note, if on the valuation date each index is at or above its strike level or down by no more than 20%.
If either index finishes more than 20% below its strike, investors lose 1% of principal for each 1% decline of the lesser performing index, with the potential for a full loss of principal. The notes pay no interest, do not provide dividends or voting rights, and will not be listed on an exchange, so liquidity may be limited. They are subject to the credit risk of both the issuer and guarantor. The preliminary estimated value is about $982.70 per $1,000 note and will not be less than $970.00, and minimum denominations are $10,000 with $1,000 increments.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the Class A common stock of Snowflake Inc. The notes pay a quarterly Contingent Interest Payment of at least $35.375 per $1,000 note if Snowflake’s share price on the relevant Review Date is at or above 55% of the Initial Stock Price, with missed coupons potentially paid later if a future Review Date meets this barrier.
The notes can be automatically called on any non‑final Review Date starting April 2, 2026 if Snowflake’s share price is at or above the Initial Stock Price, in which case investors receive $1,000 per note plus the applicable coupon and any unpaid coupons. If the notes are not called and Snowflake’s Final Stock Price is below the 55% Trigger Level, principal is reduced 1% for each 1% decline from the Initial Stock Price, so investors can lose more than 45% and up to all of their investment. The estimated value is indicated around $979 per $1,000 note in the example, and the notes carry JPMorgan credit risk, no dividend rights and limited liquidity.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Contingent Digital Buffered Notes linked to the American Depositary Shares of Petróleo Brasileiro S.A.—Petrobras. The notes run from an original issue date on or about December 23, 2025 to a maturity date of January 22, 2027, with a valuation date of January 19, 2027.
Investors receive a fixed contingent digital return of at least 16.00%, with a maximum payment of $1,160.00 per $1,000 note, if the final stock price is at or above the stock strike price or down by up to the 30.00% contingent buffer. The stock strike price is $11.77, the Petrobras ADS closing price on December 17, 2025.
If the final stock price is more than 30.00% below the strike, principal is exposed to losses on a 1-for-1 basis, and investors may lose all of their investment. The notes pay no interest or dividends, are unsecured and unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., will not be listed on an exchange, and have an estimated value of approximately $962.50 per $1,000 note at pricing, not less than $950.00.
JPMorgan Chase Financial Company LLC is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Citigroup Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. Each Note has a $10 principal amount, with a minimum investment of $1,000, and a term of about three years unless called earlier.
The Notes pay a contingent coupon of at least 9.00% per annum, in quarterly installments, only if Citigroup’s share price on an Observation Date is at or above the Coupon Barrier of $67.71, which is 60.75% of the Initial Value of $111.46 observed on December 17, 2025. After a six‑month non‑call period, the Notes are automatically called if the share price is at or above the Initial Value on an Observation Date, returning principal plus the coupon for that period.
If the Notes are not called and the Final Value is at or above the Downside Threshold of $67.71, investors receive their full principal plus the final coupon. If the Final Value is below that threshold, repayment is reduced to $10 × (1 + Underlying Return), creating losses proportionate to Citigroup’s price decline and potentially a total loss of principal.
The Notes price at $10 with selling commissions to UBS of up to $0.225 per Note and proceeds to the issuer of $9.775 per Note. The estimated value is approximately $9.614 per $10 Note and will not be less than $9.30, reflecting structuring and hedging costs. Payments depend on the creditworthiness of JPMorgan Financial and JPMorgan Chase & Co., and the Notes are not bank deposits or FDIC insured.
JPMorgan Chase Financial Company LLC issued an amendment to the pricing terms of its Capped Buffered Return Enhanced Notes due October 5, 2027, fully and unconditionally guaranteed by JPMorgan Chase & Co. The change affects the notes linked to the Nasdaq-100 Index (NDX), setting the Maximum Return at 21.75% and the Maximum Payment at Maturity at $1,217.50 per $1,000 principal amount, based on an Initial Value of 24,679.99.
The amendment reiterates that these structured investments involve risks described in the related prospectus and supplements, have not been approved or disapproved by the SEC or any state securities commission, and are not bank deposits or FDIC insured. Investors are directed to read this amendment together with the original pricing supplement and the associated offering documents.
JPMorgan Chase Financial Company LLC is offering callable contingent interest notes linked individually to the Nasdaq-100® Technology Sector Index, the Russell 2000® Index and the State Street® SPDR® S&P® Regional Banking ETF. The notes are issued in $1,000 minimum denominations and are fully and unconditionally guaranteed by JPMorgan Chase & Co.
Investors may receive monthly contingent interest at a rate of at least 11.70% per annum only when the closing value of each underlying is at or above 70% of its Initial Value. If the notes are not redeemed early and any underlying finishes below 60% of its Initial Value at final valuation, principal is reduced in line with the worst performer and can be fully lost. The issuer may redeem the notes early on specified dates, the earliest being March 26, 2026. The indicative estimated value is about $969.20 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, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked separately to the Russell 2000 Index, the State Street SPDR S&P Regional Banking ETF and the VanEck Gold Miners ETF, maturing in December 2030.
The notes can pay monthly contingent interest, at a rate expected to be at least 10.70% per annum, but only when the closing value of each underlying is at or above 70% of its initial value. Starting in December 2026, the notes are automatically called if, on certain review dates, each underlying is at or above its initial value, returning principal plus that period’s interest.
If the notes are never called and, at maturity, any underlying finishes below 55% of its initial value, repayment of principal is reduced one‑for‑one with the loss on the worst performer, which can result in losing some or all of the investment. The preliminary estimated value is about $904.60 per $1,000 note, reflecting selling costs and issuer hedging and funding assumptions, and the notes are unsecured, subject to JPMorgan credit risk and not FDIC‑insured.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering index-linked Review Notes tied separately to the Dow Jones Industrial Average®, the Nasdaq-100 Index® and the Russell 2000® Index, maturing on December 27, 2030. The notes may be automatically called as early as December 30, 2026 if the closing level of each Index is at or above 100% of its Initial Value, paying back principal plus a Call Premium of at least 13% of face value on the first Review Date and rising in steps to at least 65% on the final Review Date. If the notes are never called and, at maturity, the Final Value of each Index is at or above 70% of its Initial Value, investors receive full principal back. If the Final Value of any Index is below 70% of its Initial Value, repayment is reduced one-for-one with the loss on the Least Performing Index, and investors can lose all principal. The notes pay no interest or dividends, are unsecured obligations, and the estimated value is indicated at about $966.90 per $1,000, below the $1,000 price to public.
JPMorgan Chase Financial Company LLC is offering callable contingent interest notes linked individually to the Nasdaq-100, Russell 2000 and S&P 500 indexes, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes run to December 29, 2028, in $1,000 minimum denominations, and may be redeemed early at the issuer’s option on specified interest payment dates starting March 26, 2026.
Investors can receive monthly contingent interest only when the closing level of each index is at least 80% of its initial value, with a contingent interest rate of at least 13.40% per annum. If the notes are not called and any index finishes below its 80% trigger value at maturity, repayment is reduced in line with the decline of the worst-performing index, and investors can lose some or all principal. The estimated value is indicated at approximately $977.80 per $1,000, and will not be less than $940.00 when finalized, reflecting embedded costs and issuer funding assumptions.
JPMorgan Chase Financial Company LLC is offering $2,161,000 of structured Review Notes linked to the Nasdaq-100, Russell 2000 and S&P 500, fully guaranteed by JPMorgan Chase & Co. The notes can be automatically called on review dates in December 2026, 2027 or 2028 if each index is at or above 100% of its initial level, paying back $1,000 per note plus a call premium of 14.90%, 29.80% or 44.70%, depending on the call date.
If the notes are not called and every index finishes at or above 70% of its initial level on the final review date, investors receive full principal at maturity in December 2028. If any index is below its 70% barrier, repayment is reduced one-for-one with the decline of the worst-performing index, and investors can lose more than 30% and up to their entire principal.
The notes pay no interest, provide no dividends from the underlying indices, are unsecured obligations subject to the credit risk of JPMorgan entities, and will not be listed on an exchange. The price to the public is $1,000 per note, including selling fees, while the issuer’s estimated value is $975 per note, reflecting embedded costs and hedging factors.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, maturing in 2028, in $1,000 minimum denominations. Investors receive a contingent monthly coupon only when the Index is at or above 70% of its Initial Value, and the notes are automatically called, from the sixth review date onward, if the Index is at or above its Initial Value.
If the notes are not called and the Final Value is below 80% of the Initial Value, principal is reduced 1% for each 1% decline beyond this buffer, with up to an 80% loss of principal possible. The Index embeds a 6.0% per annum daily deduction and a notional financing cost, which drags on performance. The notes are unsecured, not FDIC-insured, may be illiquid, and their estimated value is indicated around $930.30 (not less than $900.00) per $1,000 at pricing.
JPMorgan Chase Financial Company LLC is offering callable contingent interest notes linked to the Russell 2000 Index, the S&P 500 Index and the State Street SPDR S&P Regional Banking ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co. Investors receive a monthly contingent coupon only when the closing value of each underlying on a review date is at least 60% of its initial value (the Interest Barrier). The notes can be redeemed early, in whole, at the issuer’s option on specified interest payment dates starting in June 2026.
If the notes are not redeemed and, on the final review date, each underlying is at or above 50% of its initial value (the Trigger Value), investors receive full principal back plus any final contingent interest. If any underlying finishes below its Trigger Value, repayment is reduced by the decline of the least performing underlying, and investors can lose most or all of their principal. The issuer estimates the value at about $974 per $1,000 note on the trade date and states it will not be less than $900, reflecting embedded fees, hedging costs and issuer funding assumptions.
JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated callable contingent interest notes due November 24, 2027, linked separately to the Nasdaq-100® Technology Sector IndexSM, the Russell 2000® Index and the S&P 500® Index, and fully and unconditionally guaranteed by JPMorgan Chase & Co.
Holders receive a monthly Contingent Interest Payment only if, on a Review Date, the closing level of each index is at least 70% of its Initial Value; otherwise, no interest is paid for that period. JPMorgan may redeem the notes early, in whole, on specified Interest Payment Dates starting June 25, 2026, paying $1,000 per note plus any due contingent interest.
If the notes are not redeemed early, principal repayment at maturity depends on the Least Performing Index. If each Final Value is at least 60% of its Initial Value, investors receive $1,000 plus any final contingent interest; if any Final Value is below 60%, repayment is reduced 1% for each 1% decline in the Least Performing Index, potentially down to zero. The indicative Contingent Interest Rate is at least 9.25% per annum, and the current estimated value is about $977.60 per $1,000 note, below the expected issue price, reflecting selling costs and hedging.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing auto callable contingent interest notes linked to the Nasdaq-100 Index®, the Russell 2000® Index and the State Street® SPDR® S&P® Regional Banking ETF, with a total offering of $1,681,000 in $1,000 denominations.
The notes pay a contingent interest rate of 8.20% per annum (0.68333% monthly) only if, on a Review Date, the closing value of each underlying is at or above 70% of its Initial Value; missed coupons can be paid later if conditions are met. The notes are automatically called, starting June 16, 2026, if on certain Review Dates each underlying is at or above its Initial Value, returning $1,000 plus due interest.
If not called, and at maturity any underlying finishes below 60% of its Initial Value (its Trigger Value), repayment of principal is reduced one-for-one with the decline of the least performing underlying, and investors can lose all principal. The estimated value is $952.20 per $1,000 note, below the $1,000 issue price, and the notes are unsecured, unlisted and subject to the credit risk of both the issuer and guarantor.