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 contingent interest notes linked to Ford Motor Company common stock, with a total principal amount of $2,301,000 and minimum denominations of $1,000. The notes pay a contingent interest rate of 11.50% per annum for any Review Date on which Ford’s closing share price is at or above 60% of the Initial Value, called the Interest Barrier, and may pay no interest if this condition is not met.
The notes can be automatically called on any Review Date from June 12, 2026 (excluding the first and final Review Dates) if Ford’s share price is at or above the Initial Value, returning principal plus the applicable contingent interest but ending future payments. If the notes are not called and Ford’s final share price is below the Trigger Value (60% of the Initial Value), investors lose 1% of principal for each 1% Ford has fallen, which can mean a loss of most or all of the investment.
The price to the public is $1,000 per note, including $18.50 in fees and commissions, for issuer proceeds of $981.50 per note. The estimated value at pricing is $969.00 per $1,000 note, reflecting selling, structuring and hedging costs. The notes are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. and will not be listed on any securities exchange, so liquidity may be limited.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $1,281,000 of capped dual directional buffered equity notes linked to the S&P 500® Index, maturing on December 16, 2027.
The notes offer unleveraged exposure to index moves, with a Maximum Upside Return of 17.35%. If the index is above the start level at maturity, returns track the index up to this cap. If the index is flat or down by up to 20%, investors earn the absolute value of the decline, capped at a maximum negative-index payment of $1,200 per $1,000 note. Below a 20% decline, principal is reduced 1% for each additional 1% drop, up to an 80% loss.
The notes pay no interest and provide no dividends. They are unsecured, unsubordinated obligations subject to the credit risk of both issuers. The original issue price is $1,000 per note, with an estimated value of $988.30 reflecting embedded selling, structuring and hedging costs, and potential secondary market prices are expected to be below the issue price.
JPMorgan Financial is offering $600,000 of Uncapped Dual Directional Buffered Return Enhanced Notes linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100 Index® and S&P 500® Index, maturing on December 15, 2028 and fully guaranteed by JPMorgan Chase & Co.
The notes pay no interest and do not provide dividends. At maturity, if the least performing index is above its initial level, holders receive 1.082 times that positive return. If it is flat or down by up to the 20% buffer, holders receive the absolute value of that move as a positive return, capped at a maximum payment of $1,200 per $1,000 note when the index is down 20%. If any index falls by more than 20%, principal is reduced 1% for each 1% drop beyond 20%, up to an 80% loss of principal.
The price to public is $1,000 per note, with selling commissions of $25 and an estimated value of $965 per $1,000 at pricing. The notes are unsecured, unsubordinated obligations, will not be listed on an exchange, and secondary market prices are expected to be below the issue price and sensitive to JPMorgan’s credit and market factors.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest and contingent leveraged notes linked to the EURO STOXX 50® Index, maturing on December 21, 2029. The notes target monthly contingent interest at a Base Rate of at least 10.00% per annum (about 0.83333% per month) when no trigger event occurs, but coupons can drop to 2/3 or 1/3 of that level if the Index falls below 95.00% or 90.00% of its initial value on any day, and can be shut off entirely if it falls below 85.00%.
The notes may be automatically called after about one year if no trigger event has occurred, returning $1,000 per note plus the applicable coupon. If not called, principal is split into three equal parts that can be lost on a leveraged basis if the Index breaches progressively lower trigger levels during the monitoring period; investors can lose some or all of their principal at maturity. Minimum denomination is $1,000, and the preliminary estimated value is $979.10 per $1,000 note, not less than $950.00 when finalized. Payments depend on JPMorgan Financial’s and JPMorgan Chase & Co.’s credit.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering 5-year Market Linked Notes tied 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 are issued at $1,000 per note, pay no interest and do not provide dividends from the underlying indices. At maturity, if the Basket Return is positive, investors receive $1,000 plus $1,000 × Basket Return × the Participation Rate, which will be set on the trade date and is expected between 102.00% and 105.00%. If the Basket Return is zero or negative, investors receive only the $1,000 principal, provided the issuer and guarantor meet their obligations.
The estimated value would be about $951.80 per $1,000 note if priced on the reference date and will not be less than $920.00 at issuance. The Notes are unsecured, unsubordinated obligations, will not be listed on any exchange and are expected 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 $4,581,000 of structured notes linked to the Russell 2000® Index, maturing on December 16, 2027. The notes provide 1.25x leveraged upside on any index gain, capped at a maximum return of 29.85%, for a maximum payment of $1,298.50 per $1,000 note. A 15% downside buffer protects against moderate declines, but if the index falls by more than 15%, investors lose 1% of principal for each additional 1% drop, up to an 85% loss of principal at maturity.
The notes do not pay interest and investors receive no dividends from the underlying stocks. They are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The price to the public is $1,000 per note, including $5 in selling commissions, with issuer proceeds of $995 per note. The issuer’s estimated value at pricing is $990.50, reflecting embedded costs and hedging assumptions, and secondary market prices are expected to be below the issue price.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is issuing auto callable contingent interest notes linked to the Class A common stock of CrowdStrike Holdings, Inc. Each note has a $1,000 denomination and can pay a quarterly contingent interest of $48.125 per $1,000 if CrowdStrike’s share price on the relevant review date is at or above the Interest Barrier of $353.346, which is 70% of the $504.78 Initial Stock Price on the pricing date.
The notes are automatically called, returning $1,000 plus the applicable contingent interest and any unpaid interest, if on any non‑final review date CrowdStrike’s share price is at or above the Initial Stock Price. If the notes are not called and the Final Stock Price is at or above the Trigger Level (also $353.346), investors receive $1,000 plus any due interest at maturity. If a Trigger Event occurs and the Final Stock Price is below the Trigger Level, principal is reduced one‑for‑one with the stock loss, and investors can lose more than 30% and up to all of their principal.
The total offering is $9,780,000, with proceeds to the issuer of $9,682,200 after fees, and the estimated value of each note at pricing was $976.80 per $1,000.
JPMorgan Chase Financial Company LLC is offering Trigger Callable Yield Notes linked to the lesser performing of the Russell 2000® Index and the EURO STOXX 50® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The Notes have a 15‑month term, a principal amount of $10 per Note (minimum purchase $1,000), and pay a fixed monthly Coupon at a rate expected to be between 9.00% and 9.50% per annum, regardless of index performance, until they are called or mature.
JPMorgan Financial may, at its election, call the Notes on any monthly Optional Call Notice Date after an initial three‑month non‑call period, paying back the $10 principal plus the Coupon for that month, with no further payments. If the Notes are not called and on the Final Valuation Date the value of each index is at or above 70% of its Initial Value (its Downside Threshold), investors receive $10 per Note plus the final Coupon at maturity. If either index finishes below its Downside Threshold, the maturity payment is reduced to $10 × (1 + Lesser Performing Underlying Return) plus the final Coupon, which can result in a significant or total loss of principal.
The Notes are unsecured and unsubordinated obligations of JPMorgan Financial, guaranteed by JPMorgan Chase & Co., are not bank deposits, are not insured by the FDIC or any governmental agency, and will not be listed on any securities exchange. An illustrative estimated value is approximately $9.897 per $10 principal amount Note, and the final estimated value will not be less than $9.50 per $10 principal amount Note.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $445,000 of Uncapped Buffered Digital Notes linked to the least performing of the Dow Jones Industrial Average, the Russell 2000 Index and the Nasdaq‑100 Index, maturing in December 2028. The notes provide uncapped, unleveraged upside based on the least performing index, with a contingent minimum return of 35% if each index finishes at or above its initial level on the observation date and a 20% downside buffer. Below the buffer, investors lose 1% of principal for each 1% additional decline in the least performing index, up to an 80% principal loss. The notes pay no interest, do not provide dividends, are unsecured and unsubordinated, and carry the credit risk of both the issuer and guarantor. The price to public is $1,000 per note, including $7 in selling commissions; the estimated value at pricing was $976.60 per $1,000 note.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $1,106,000 of Review Notes linked to the MerQube US Tech+ Vol Advantage Index maturing on December 17, 2030. The notes may be automatically called as early as December 16, 2026 if the Index closes at or above 90% of its initial level, paying back $1,000 plus a call premium that starts at 11% of principal and steps up to 55% on the final review date.
At maturity, if the notes have not been called and the Index is down by no more than the 15% buffer, investors receive their full principal; if it is down more than 15%, principal is reduced point‑for‑point and up to 85% may be lost. The Index includes a 6.0% per annum daily deduction and a notional financing cost, which drag on performance versus an equivalent index without these charges.
The price to public is $1,000 per note, including $41.50 in fees and commissions and proceeds to the issuer of $958.50 per note. The estimated value at pricing was $906.80 per $1,000, and the notes are unsecured, unsubordinated obligations subject to the credit risk of both issuers.
JPMorgan Chase Financial Company LLC is offering Capped Buffered Return Enhanced Notes linked to the iShares® MSCI Emerging Markets ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes provide 1.50 times any positive fund return, up to a maximum return of at least 24.80%, corresponding to a maximum payment at maturity of at least $1,248.00 per $1,000 principal amount note.
Principal is protected only by a 10.00% downside buffer; if the ETF falls by more than 10.00%, holders lose 1% of principal for each additional 1% decline, up to a 90.00% loss at maturity. The notes pay no interest or dividends, are unsecured, not bank deposits and will not be listed on an exchange, so liquidity may be limited. Returns depend on the credit of JPMorgan Financial and JPMorgan Chase & Co., as well as emerging markets, non-U.S. securities and currency risks. The preliminary estimated value is approximately $979.00 per $1,000 note and will not be less than $940.00 when the terms are set.
JPMorgan Chase Financial Company LLC is offering $1,697,000 of Auto Callable Contingent Interest Notes linked to the common stock of Occidental Petroleum Corporation, due December 16, 2027, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a contingent coupon of 10.00% per annum, or $25 per $1,000 each quarter, but only if OXY’s closing price on a Review Date is at least 60% of the Initial Value, set at $41.07 (Interest Barrier and Trigger Value $24.642). The notes may be automatically called starting June 12, 2026 if OXY 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 OXY finishes below the Trigger Value at maturity, repayment of principal is reduced one-for-one with the stock loss, so investors can lose more than 40% and up to all of their investment. The price to public is $1,000 per note, including $18.50 in fees and commissions, while the issuer’s estimated value is $967.40 per $1,000. The notes are unsecured, not listed, and subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering $1,333,000 in Uncapped Digital Barrier Notes linked to the lesser performing of the S&P 500 Index and the Russell 2000 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes price at $1,000 per note, with selling commissions of $30 and an estimated value of $944.50 per $1,000.
The notes run from December 2025 to December 2030 and pay no interest or dividends. At maturity, if both indices finish at or above their initial levels, investors receive $1,000 plus the greater of a 46.15% contingent digital return or the actual return of the lesser performing index. If either index is below its initial level but both stay at or above 75% of their initial values, investors receive only principal back. If either index ends below 75% of its initial value, repayment is reduced one-for-one with the decline of the lesser performing index, and investors can lose up to their entire principal.
The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., will not be listed on an exchange, and secondary market prices are expected to be lower than the original issue price.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the common stock of UnitedHealth Group Incorporated. The notes pay a contingent interest of $33.975 per $1,000 on each Interest Payment Date if UnitedHealth’s share price is at or above the Interest Barrier of $222.196, which is 65% of the Initial Stock Price of $341.84.
The notes may be automatically called if UnitedHealth’s stock closes at or above the Initial Stock Price on a Review Date, with the earliest possible call on April 10, 2026, paying $1,000 plus the applicable interest and any unpaid interest. If the notes are not called and the Final Stock Price is below the Trigger Level of $222.196, investors lose 1% of principal for each 1% decline in the stock, potentially losing their entire investment. The notes are issued in $1,000 denominations, with a total offering of $3,575,000, and have an estimated value of $979 per $1,000 at pricing, reflecting fees, hedging costs and issuer funding assumptions.
JPMorgan Chase Financial Company LLC is offering $400,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Tech+ Vol Advantage Index, fully guaranteed by JPMorgan Chase & Co. The notes pay a monthly Contingent Interest Payment of $11.0833 per $1,000 (a 13.30% per annum rate) for each Interest Review Date on which the index closes at or above 75% of its Initial Value. On quarterly Autocall Review Dates starting in December 2026, if the index closes at or above its Initial Value, the notes are automatically called at $1,000 per note plus the applicable contingent interest, and no further payments are made.
If the notes are not called and the final index level is at or above 70% of the Initial Value, investors receive back $1,000 per note at maturity plus any final contingent interest. If the final level is below 70% of the Initial Value, repayment of principal is reduced according to the index decline beyond the 30% buffer, with up to 70% of principal at risk. The underlying index uses leveraged exposure to the Invesco QQQ Trust with a 6.0% per annum daily deduction and a notional financing cost, which will drag on performance. Each note is issued at $1,000 with selling commissions of $6.50 and an estimated value of $946.90 per $1,000 note, and the notes are unsecured, unsubordinated obligations not insured by any governmental agency.
JPMorgan Chase Financial Company LLC is offering $4,215,000 of Digital Barrier Notes linked to the lesser performing of the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a fixed 9.00% return at maturity on January 15, 2027 if, on the January 12, 2027 observation date, the final level of each index is at least 70.00% of its initial level.
If either index finishes below its 70.00% barrier, repayment is reduced one-for-one with the decline of the lesser performing index, so investors can lose more than 30% and up to all principal. The notes pay no periodic interest, do not pass through index dividends, are unsecured and unsubordinated obligations subject to JPMorgan Financial and JPMorgan Chase & Co. credit risk, are expected to be issued in $1,000 denominations, and had an estimated value at pricing of $990.40 per $1,000 note.
JPMorgan Chase Financial Company LLC is offering $2,498,000 of Uncapped Accelerated Barrier Notes linked to the lesser performance of the Nasdaq-100® Technology Sector Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes run from an expected issue date around December 17, 2025 to maturity on December 17, 2029. At maturity, if both indices are above their initial levels, investors receive their principal plus 1.3665 times the gain of the lesser performing index. If either index finishes below its initial level but both stay at or above 70% of their initial values, investors receive only their principal back. If either index closes below 70% of its initial value, repayment is reduced one-for-one with the loss of the lesser performer, which can lead to a loss of more than 30% and up to all invested principal.
The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of both the issuer and guarantor, and are not listed on an exchange. The price to the public is $1,000 per note, including $7.50 in selling commissions, while the initial estimated value is $983.40 per $1,000 note, reflecting embedded fees and hedging costs.
JPMorgan Chase Financial Company LLC is offering $500,000 of Auto Callable Contingent Interest Notes linked to Oracle Corporation common stock, fully and unconditionally guaranteed by JPMorgan Chase & Co., and maturing on December 16, 2027.
The notes pay a quarterly contingent coupon of $41.25 per $1,000 note (a 16.50% per annum rate) for any Review Date when Oracle’s share price is at least 50.00% of the $191.17 Strike Value. If on any non-final Review Date Oracle closes at or above the Strike Value, the notes are automatically called, returning $1,000 plus the applicable coupon, starting as early as March 11, 2026.
If the notes are not called and Oracle’s final share price is below 50.00% of the Strike Value, investors lose 1% of principal for each 1% decline from the Strike Value and can lose their entire investment. The notes are unsecured, will not be listed, have an estimated value of $982.50 per $1,000 at pricing, and pay no dividends or fixed interest.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $695,000 of Uncapped Accelerated Barrier Notes linked to the least performing of the Dow Jones Industrial Average, the Nasdaq-100 Technology Sector Index and the Russell 2000 Index, maturing on December 15, 2028. The notes offer 1.80x any positive performance of the worst-performing index at maturity.
Each note has a $1,000 denomination, a 60% barrier for each index and pays no interest or dividends. If all three indices stay at or above their barriers, investors receive at least full principal; if any index closes below its barrier, repayment is reduced one-for-one with the loss on the least performing index, and investors can lose their entire principal.
The price to public is $1,000 per note, with proceeds to the issuer of $991.2518 per note and an estimated value of $970.30 when terms were set. The notes are unsecured, unsubordinated obligations subject to the credit risk of both the issuer and JPMorgan Chase & Co. and will not be listed on any securities exchange.
JPMorgan Chase Financial Company LLC plans to issue auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing on January 3, 2031 and fully 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, and may be automatically called beginning December 29, 2026 if the Index is at or above its Initial Value.
If the notes are not called, principal is protected only if the Final Index level is at or above a Trigger Value equal to 50% of the Initial Value; below that level, investors lose 1% of principal for each 1% Index decline. The Index itself uses up to 500% leverage in E-mini S&P 500 futures and is reduced by a 6.0% per annum daily deduction, which drags performance.
The notes are unsecured obligations of JPMorgan Chase Financial with minimum denominations of $1,000. If priced on the indicated date, the estimated value would be about $889.40 per $1,000, and will not be less than $870.00 when finalized, reflecting selling costs and hedging-related factors.
JPMorgan Chase Financial Company LLC is issuing $1,023,000 of structured "Review Notes" linked to the lesser performance of the Dow Jones Industrial Average® and the Nasdaq-100 Index®, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have $1,000 minimum denominations, priced on December 12, 2025 and expected to settle on or about December 17, 2025, and are scheduled to mature on December 17, 2029.
The notes may be automatically called as early as December 15, 2026 if each index is at or above its Call Value, paying back principal plus a call premium that steps up from 10% to 40% of face value over the four Review Dates. If not called, investors receive full principal at maturity only if each index finishes at or above 70% of its Initial Value; otherwise the payoff is reduced one-for-one with the loss on the lesser-performing index, and investors can lose most or all of their principal. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan entities, and had an estimated value of $952.80 per $1,000 at pricing, below the price to public due to selling, structuring and hedging costs.
JPMorgan Chase & Co. is offering $3,828,000 of callable step-up fixed rate notes due December 16, 2039. The notes pay annual interest in arrears at fixed rates that increase over time: 5.00% per annum from December 17, 2025 to December 17, 2035, 5.25% per annum from December 17, 2035 to December 17, 2037, and 5.50% per annum from December 17, 2037 to December 16, 2039, using a 30/360 day count.
JPMorgan may redeem the notes in whole at par plus accrued interest on the 17th of March, June, September and December of each year, from March 17, 2028 through September 17, 2039. Investors receive principal plus any unpaid interest at maturity if the notes have not been called. The price to the public is $1,000 per note, including selling commissions and estimated hedging costs, resulting in $3,738,792 in proceeds to the issuer. The notes are unsecured obligations of JPMorgan, rank behind subsidiary creditors in a resolution scenario and carry risks described in the referenced risk factor sections.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Review Notes linked to the lesser performing of the Russell 2000® Index and the S&P 500® Index, maturing on December 24, 2030. The notes can be automatically called on scheduled Review Dates starting December 22, 2026 if the closing level of each index is at or above 100% of its Initial Value, paying $1,000 plus a call premium of at least 10% to 50% of principal, depending on the Review Date.
If the notes are not called and the Final Value of each index is at or above 75% of its Initial Value, investors receive only their $1,000 principal back. If either index finishes below this 75% barrier, the maturity payment is reduced dollar-for-dollar with the loss on the lesser performing index, and up to the entire principal can be lost. The notes pay no interest or dividends, have minimum denominations of $1,000, and are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., is offering Trigger Callable Yield Notes linked to the lesser performing of the Russell 2000 and EURO STOXX 50 indexes. Each $10 note pays fixed monthly coupons expected between 7.50% and 8.00% per year while outstanding, regardless of index performance.
The issuer may call the notes monthly after an initial three‑month non‑call period, repaying the $10 principal plus the applicable coupon, with no further payments. If the notes are not called and, at maturity, both indexes are at or above 70% of their initial levels, investors receive full principal back plus the final coupon.
If either index finishes below its 70% downside threshold, principal is reduced in proportion to the loss of the lesser‑performing index, and investors can lose a significant portion or all of their investment, though the final coupon is still paid. The notes are unsecured, subject to JPMorgan Financial and JPMorgan Chase & Co. credit risk, not listed on any securities exchange, sold at $10 with $0.10 in selling commissions per note, and have an illustrative estimated value of about $9.802 per $10 note.
JPMorgan Chase Financial Company LLC is offering five-year Trigger GEARS, unsecured notes fully and unconditionally guaranteed by JPMorgan Chase & Co. The return is 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%).
At maturity, if the basket has risen, investors receive their $10 principal per Security plus the basket gain multiplied by an Upside Gearing expected between 1.455 and 1.655. If the basket is flat or down but still at or above 75% of its initial level, principal is repaid. If the basket falls below this 75% downside threshold, repayment is reduced one-for-one with the basket loss and investors can lose all principal.
The Securities pay no interest, do not provide index dividends, are not listed on any exchange, and are subject to the credit risk of both the issuer and guarantor. Issue price is $10 per Security (minimum $1,000), including up to $0.35 in selling commissions; the issuer estimates current value at about $9.418 per $10 Security and states it will not be less than $9.10 at pricing.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $269,000 of Uncapped Accelerated Barrier Notes linked to the least performing of the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index, maturing in December 2030.
The notes provide 1.677x leveraged upside on any positive performance of the worst-performing index, but expose investors to losses if any index falls below a 70% barrier of its initial level, with the potential for a total loss 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 were sold at $1,000 per note with an estimated value of $964.80 at pricing, reflecting embedded costs and hedging charges.
JPMorgan Chase Financial Company LLC is issuing $445,000 of Uncapped Buffered Digital Notes linked to the least performing of the Dow Jones Industrial Average, the Russell 2000 Index and the Nasdaq-100 Index, maturing on December 17, 2030. The notes offer uncapped upside at maturity based on the weakest index, with a 55.00% contingent digital return and a 20.00% downside buffer.
If all three indices finish at or above their initial levels, investors receive the greater of the 55.00% digital return or the actual return of the least performing index. If any index falls more than 20.00%, principal is reduced 1% for each 1% drop beyond that buffer, up to an 80.00% loss of principal.
The notes pay no interest, do not provide dividends from the underlying indices, and are unsecured obligations of JPMorgan Chase Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co. They will not be listed on an exchange, and the estimated value at pricing is $970.40 per $1,000 note, below the issue price, reflecting selling commissions, hedging costs and dealer profits.
JPMorgan Chase Financial Company LLC is issuing $1,001,000 of uncapped accelerated barrier notes linked to the common stock of NVIDIA, Broadcom and Alphabet, fully guaranteed by JPMorgan Chase & Co. The notes run to December 17, 2029 and offer a leveraged gain of 3.50 times any positive return of the worst-performing stock at maturity.
If all three stocks finish at or above their initial prices, investors receive $1,000 plus 3.50 times the least-performing stock’s gain per $1,000 note. If any stock is at or below its initial value but all remain at or above 50.00% of their initial values, principal is returned. If any stock closes below its 50.00% barrier, repayment is reduced one-for-one with the worst performer, and investors can lose most or all of their principal. The notes pay no interest or dividends, are unsecured, may be illiquid, and were sold at $1,000 per note with an estimated value of $952.90.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $3.614 million of Callable Contingent Interest Notes due December 15, 2028, linked to the least performing of three State Street SPDR ETFs covering energy, consumer discretionary and U.S. regional banks. The notes pay a contingent coupon of 11.00% per annum (2.75% quarterly, or $27.50 per $1,000) only if on a Review Date each ETF closes at or above 70% of its initial value; missed coupons can be paid later if the condition is met.
The issuer may redeem the notes early on specified interest payment dates starting June 17, 2026 at $1,000 plus due coupons, ending any further interest. At maturity, if the notes are not called and each ETF finishes at or above 60% of its initial value, investors receive full principal plus any due coupons; if any ETF is below 60%, repayment is reduced in line with the worst ETF’s loss, and investors can lose most or all of principal.
The notes are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. The price to the public is $1,000 per note, including $18.50 in selling and structuring fees, while the issuer’s estimated value is $961.50 per $1,000, reflecting embedded costs and hedging assumptions.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Capped GEARS linked to an unequally weighted basket of five equity indices: EURO STOXX 50, Nikkei 225, FTSE 100, Swiss Market Index and S&P/ASX 200. The notes have an approximate 14‑month term, a $10 denomination and provide 3.00x leveraged upside exposure to a positive Basket Return, capped by a Maximum Gain between 16.00% and 18.00%.
If the Basket Return is zero, investors receive $10 back; if it is negative, repayment is reduced dollar‑for‑dollar with the Basket’s decline, with potential loss of the entire principal. The EURO STOXX 50 carries the largest basket weight at 40%, giving it the greatest impact on returns. The price to public is $10.00 per note, including up to $0.20 in selling commissions to UBS, and the estimated value is expected to be between $9.40 and, based on current conditions, approximately $9.755 per $10 note. The securities pay no interest or dividends, are unsecured, not exchange‑listed, and all payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering unsecured Digital Buffered Notes linked to the S&P 500® Index. The notes target a fixed Contingent Digital Return of at least 8.20%, giving a maximum payment at maturity of $1,082 per $1,000 note if the index finishes at or above its initial level, or down to 10.00% below it.
If the S&P 500® falls more than 10.00%, principal is exposed to leveraged downside: for every 1% drop beyond the 10.00% buffer, investors lose 1.11111% of principal, up to a total loss. The notes pay no interest or dividends and do not provide voting rights.
The notes are scheduled to price on or about December 19, 2025, with maturity on January 7, 2027. An initial estimated value of approximately $986 per $1,000 note is indicated, and the final estimated value will not be less than $970, reflecting embedded selling commissions, hedging costs and dealer profits. Payments depend on the credit of JPMorgan Chase Financial Company LLC and the guarantee of JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto-callable structured notes linked to the MerQube US Tech+ Vol Advantage Index, maturing in December 2030. Each note has a $1,000 minimum denomination and may be automatically called as early as December 23, 2026 if the Index is at or above a call level, paying back principal plus a fixed call premium.
The call premiums start at at least 12% of principal on the first review date and step up to at least 60% on the final review date. If the notes are not called, principal is protected only down to a 30% buffer; beyond that, investors lose 1% of principal for each additional 1% Index decline, up to a 70% loss at maturity.
The Index uses leveraged exposure (up to 500%) to the Invesco QQQ Trust, but its performance is reduced by a 6.0% per annum daily deduction and a notional financing cost, which can significantly drag returns. The notes pay no interest or dividends, are unsecured, and their payments depend on the credit of both JPMorgan Financial and JPMorgan Chase & Co. The preliminary estimated value is about $909.90 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 index-linked Review Notes tied to the Dow Jones Industrial Average®, Nasdaq-100® Technology Sector IndexSM and Russell 2000® Index, maturing on December 24, 2030. The notes may be automatically called as early as December 24, 2026 if the closing level of each index is at or above 100% of its Initial Value, paying back $1,000 plus a Call Premium Amount that starts at at least 10% of principal and can reach at least 50% on the final Review Date.
If the notes are not called and on the final Review Date each index is at or above 70% of its Initial Value, investors receive only their $1,000 principal back. If any index finishes below this 70% Barrier Amount, repayment is reduced one-for-one with the decline of the Least Performing Index, and all principal can be lost. The notes pay no interest or dividends, are unsecured and unsubordinated, have $1,000 minimum denominations, and had an indicative estimated value of about $937.50 per $1,000 (not less than $900.00) at launch, reflecting embedded fees and hedging costs.
JPMorgan Chase Financial Company LLC is offering $5,000,000 of auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are scheduled to mature on December 17, 2030 and may be automatically called as early as June 12, 2026 if the Index closes at or above its Initial Value on a review date.
Investors may receive a contingent interest payment at a rate of 15.70% per annum (3.925% per quarter) for any review date on which the Index closes at or above 65% of the Initial Value, but they can receive no interest for some or all periods. If the notes are not called and the Final Value is below 60% of the Initial Value, principal is reduced one-for-one with the Index loss, potentially to zero.
The Index uses leveraged exposure (up to 500%) to E-mini S&P 500 futures and is reduced by a 6.0% per annum daily deduction, which creates a persistent drag on performance. The price to public is $1,000 per note, including $7.50 in selling commissions, while the estimated value is $932.20 per $1,000, reflecting structuring and hedging costs. Payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co., and the notes are unsecured, unlisted and may be illiquid.
JPMorgan Chase Financial Company LLC is offering auto-callable review notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing on January 3, 2031, and guaranteed by JPMorgan Chase & Co. The notes may be called as early as December 31, 2026 if the Index closes at or above preset Call Values, paying $1,000 plus a Call Premium Amount that starts at a minimum of 16.500% × $1,000 on the first Review Date and rises to at least 82.500% × $1,000 on the final Review Date. If never called and the Final Value is below the 60% Barrier Amount, repayment is $1,000 plus $1,000 × Index Return, so investors can lose more than 40% and up to all principal. The Index uses leveraged exposure of up to 500% to E-mini S&P 500 futures, targets 35% implied volatility and is reduced by a 6.0% per annum daily deduction, which drags on performance. The estimated value is indicated at about $885.90 per $1,000 note if priced today, and will not be less than $870.00 at pricing, and the notes pay no interest or dividends and carry the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering $2,805,000 of auto callable contingent interest notes due December 17, 2030, linked to the least performing of the Dow Jones Industrial Average®, the Nasdaq-100 Index® and the Russell 2000® Index. The notes pay a monthly contingent coupon at a rate of 7.25% per annum (0.60417% per month) only if, on each Interest Review Date, all three indices are at or above 75% of their Initial Values.
The notes can be automatically called quarterly starting December 14, 2026 if each index is at or above its Initial Value, returning $1,000 per note plus the applicable coupon. If not called and any index finishes below 70% of its Initial Value at maturity, investors lose 1% of principal for each 1% decline of the least performing index and can lose all principal. The price to public is $1,000 per note, including $40.25 in selling commissions, while the issuer’s estimated value is $933.70, and the notes carry the unsecured credit risk of JPMorgan Financial and JPMorgan Chase & Co. with no FDIC insurance and limited liquidity.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering auto-callable review notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing on January 3, 2031. The notes can 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 at least 19.20% of principal and rising to at least 96.00% on the final review date.
If the notes are not called and the Index is at or above 50% of its initial level at final valuation, investors receive only their principal back; below that 50% barrier, repayment is reduced one-for-one with the Index loss, potentially to zero. The Index itself is subject to a 6.0% per annum daily deduction and can use leverage up to 500% to E-mini S&P 500 futures, which may magnify losses. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of the issuer and guarantor, are not expected to be listed, and may trade below the $1,000 issue price; the estimated value at pricing would be about $885.10 per $1,000, and not less than $870.00.
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 24, 2030. The notes may be automatically called as early as December 24, 2026 if the Index closes at or above its initial level, paying back $1,000 plus a call premium that starts at 18.25% of principal and can reach at least 91.25% by the final review date.
These notes pay no interest or dividends and expose investors to up to 85% loss of principal at maturity if the Index falls more than a 15% buffer below its initial level. The Index itself is reduced by a 6.0% per annum daily deduction and a notional financing cost, so it is designed to underperform a similar index without these charges. The indicative estimated value is about $905.90 per $1,000 note, and will not be less than $900.00 when finalized.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering $1,000 principal-amount market-linked securities tied to the iShares Bitcoin Trust ETF (IBIT), maturing December 16, 2027. These are principal-at-risk notes, not bank deposits and not FDIC insured.
The notes can be automatically called on December 17, 2026 if IBIT’s closing price is at or above the $51.20 starting price, paying $1,300 per note (a 30% call premium). If not called, maturity payment depends on IBIT’s final price: gains above the starting price are multiplied by a 150% upside participation rate; moderate losses down to a $38.40 threshold (75% of start) earn a positive “absolute return”; deeper losses below the threshold produce full downside exposure and can erase most or all principal.
The estimated value at pricing is $958.20 per note, below the $1,000 issue price, reflecting selling commissions and hedging costs. The document highlights significant risks from bitcoin’s extreme volatility, evolving regulation, market structure and operational vulnerabilities, all of which can adversely affect IBIT and the value of these securities.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $500,000 of auto callable contingent interest notes linked to the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index, maturing in December 2029.
The notes pay a contingent monthly coupon at a 9.25% per annum rate only when the closing level of each index is at or above 70% of its initial value, and can be automatically called as early as December 2026 if all three indices are at or above their initial levels. If the notes are not called and any index ends below 60% of its initial value at maturity, investors lose principal in line with the decline of the worst-performing index, up to a total loss.
The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial, subject to the credit risk of both the issuer and guarantor. The price to public is $1,000 per note, while the initial estimated value is $965.20, reflecting embedded costs, fees and hedging.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $6,365,000 of Auto Callable Accelerated Barrier Notes linked to the lesser performance of the Nasdaq‑100 Index and the Russell 2000 Index, maturing on December 15, 2028. Each note has a $1,000 denomination and may be automatically called as early as December 16, 2026 if both indices are at or above 100% of their initial levels, paying back principal plus a call premium of 13.35% on the first review date or 26.70% on the second.
If the notes are not called and both final index levels are above their initial values, investors receive principal plus 2x the gain of the lesser-performing index. If either index finishes at or below its initial level but both stay at or above a 70% barrier, only principal is returned. If either index closes below its 70% barrier, repayment is reduced one-for-one with the loss of the lesser-performing index, up to a total loss of principal. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of the issuer and guarantor, and had an estimated value at pricing of $958.50 per $1,000 note, below the price to public.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $2,245,000 of Auto Callable Contingent Interest Notes linked to Palantir Technologies Inc. Class A common stock, maturing on June 17, 2027. The notes pay a 19.00% per annum contingent interest rate (4.75% quarterly) only if Palantir’s share price on each review date is at or above 50% of the initial value of $183.57.
The notes are automatically called, with return of principal plus the applicable interest, if Palantir’s share price on any non-final review date is at or above the initial value, starting March 12, 2026. If the notes are not called and the final share price is below the 50% trigger, investors lose principal in line with the stock’s decline and can lose their entire investment. The price to the public is $1,000 per note, with estimated value of $957.50 and net proceeds to the issuer of about $2.20 million, and payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering $829,000 of auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, due December 17, 2030, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a 10.00% per annum Contingent Interest Rate (0.83333% per month) only on Review Dates when the Index closes at or above 75% of its Initial Value, with unpaid coupons accruing if later barriers are met.
The notes can be automatically called on certain Review Dates starting December 14, 2026 if the Index is at or above its Initial Value, returning $1,000 plus due interest per note. Principal is protected only by a 15% buffer; if the Final Index Value is below 85% of the Initial Value, investors lose 1% of principal for each additional 1% decline, up to an 85% loss. The Index embeds a 6.0% per annum daily deduction and a notional financing cost, which drag on performance. The price to public is $1,000 per note, versus an estimated value of $910.90, and the notes are unsecured, unlisted obligations subject to JPMorgan Financial and JPMorgan Chase & Co. credit risk.
JPMorgan Chase Financial Company LLC is offering $1,260,000 of index-linked review notes guaranteed by JPMorgan Chase & Co., tied separately to the Dow Jones Industrial Average, Nasdaq-100 and Russell 2000. The notes may be automatically called as early as December 2026 if all three indices are at or above 100% of their initial levels, paying back principal plus a call premium that rises from 10.10% to 50.50% of the $1,000 denomination over five review dates. If not called and all indices finish at or above 70% of their initial levels in December 2030, investors receive full principal; if any index ends below this barrier, repayment is reduced one-for-one with the loss on the worst-performing index, potentially to zero. The price to public is $1,000 per note, including $40.75 in selling commissions, while the issuer’s estimated value is $930.90, and the notes pay no interest or dividends and carry full issuer and guarantor credit risk.
JPMorgan Chase Financial Company LLC is offering $1,980,000 of callable contingent interest notes due December 15, 2028, linked to the Nasdaq-100 Index®, the Russell 2000® Index and the State Street® Utilities Select Sector SPDR® ETF, and fully guaranteed by JPMorgan Chase & Co.
The notes pay a contingent coupon at 10.50% per annum (0.875% monthly) only for months when the closing value of each underlying is at least 70.00% of its initial level; otherwise no interest is paid. Beginning March 17, 2026, the issuer may redeem the notes on certain interest payment dates at $1,000 per note plus any applicable coupon, ending all future payments.
If the notes are not redeemed and any underlying finishes below its 70.00% trigger level at maturity, principal repayment is reduced point-for-point with the decline of the least performing underlying, up to a complete loss of the $1,000 principal. The notes are unsecured, not listed on any exchange, carry an estimated value of $970.60 per $1,000 at pricing, and expose holders to JPMorgan credit risk, equity market volatility and sector, small‑cap and non‑U.S. equity risks.
JPMorgan Chase Financial Company LLC is offering $545,000 of Uncapped Accelerated Barrier Notes linked to Grade A copper, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes provide 1.40x leveraged upside on any gain in the copper price at maturity, with no cap on potential upside.
Investors receive no interest and face full downside risk if copper falls below an 80% barrier of the initial price of $11,816.00 per metric ton on the observation date in December 2027. If the final price stays at or above the barrier, principal is repaid; below the barrier, losses move one-for-one with copper and can reach 100% of principal. The notes are unsecured, not insured by any government agency, have limited liquidity, and their estimated value at issuance is $963.90 per $1,000, below the $1,000 issue price.
JPMorgan Chase Financial Company LLC is offering unsecured structured notes linked to the SPDR® Gold Trust. The notes run to December 28, 2026 and are fully and unconditionally guaranteed by JPMorgan Chase & Co.
Investors receive no interest but get 125.00% participation in any positive return of the SPDR® Gold Trust, capped at a maximum return of at least 17.20% per $1,000 note at maturity. If the fund finishes at or below its initial level, the maturity payment is $1,000 plus the fund return, but not less than $900 per $1,000 note, so investors can lose up to 10.00% of principal.
The notes are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., will not be listed on an exchange, and secondary market prices are expected to be below the issue price. The estimated value is disclosed as lower than the $1,000 price because it reflects selling commissions, projected hedging profits or losses and hedging costs. The product also carries complex U.S. tax treatment as a potential contingent payment debt instrument.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured structured notes that provide uncapped, dual-directional exposure to the Dow Jones Industrial Average, the Russell 2000 Index and the VanEck Semiconductor ETF, based on the worst performer, with maturity on June 23, 2027.
The notes aim to pay at least 1.20 times any positive return of the least performing underlying when all three finish above their initial values. If the least performer is flat or down by up to the 20.00% buffer, investors receive a positive, unleveraged return equal to that absolute move, up to a 20.00% maximum gain. If any underlying falls more than 20.00%, principal is reduced one-for-one beyond the buffer, with up to 80.00% of principal at risk.
Holders forgo interest and dividends, face the credit risk of both issuers, and the notes will not be listed, so liquidity may be limited. The price to public is $1,000 per note, while the estimated value would be about $970.40 per $1,000 today and will not be less than $900.00 per $1,000 at pricing, reflecting selling commissions of up to $22.25 and hedging costs.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $1,523,000 of market-linked notes tied to the common stock of Broadcom Inc. Each security has a $1,000 principal amount and offers a 16.75% per annum contingent coupon, paid quarterly only if Broadcom’s stock on the relevant calculation day is at or above the threshold price of $215.958, which is 60% of the starting price of $359.93.
The notes can be automatically called from March 2026 to September 2028 if the stock is at or above the starting price on a calculation day, returning principal plus a final coupon. If not called, investors receive full principal at maturity only if the final stock price is at or above the threshold; otherwise they are exposed to the full downside from the starting price and can lose more than 40%, up to their entire investment. The notes are unsecured, not FDIC insured, and the estimated value at issuance is $957.60 per $1,000 due to selling commissions and hedging costs.
JPMorgan Chase Financial Company LLC is offering $1,100,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Tech+ Vol Advantage Index, guaranteed by JPMorgan Chase & Co. The notes pay a monthly contingent coupon of $8.1667 per $1,000 (a 9.80% per annum rate) only when the Index closes at or above 80.00% of its initial level of 12,129.62, and missed coupons can be paid later if the barrier is met.
The notes can be automatically called as early as December 14, 2026 if the Index is at or above its initial level, returning $1,000 per note plus due coupons. At maturity on December 17, 2030, investors receive full principal only if the Index is at or above the 80.00% buffer threshold; otherwise, principal is reduced 1% for each 1% decline beyond the 20.00% buffer, for a potential loss of up to 80.00%. The underlying Index includes a 6.0% per annum daily deduction and a notional financing cost, which drag on performance, and the notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.