Alerian MLP Index ETNs due January 28 2044 424B Filings

JPMorgan Chase Financial Company LLC is offering $155,000 of auto callable contingent interest notes linked to the lesser performance of the S&P 500 Index and the VanEck Gold Miners ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent interest rate of 12.35% per annum, credited monthly, but only when the closing value of each underlying is at least 70% of its initial value, and they may pay no interest at all.

The notes can be automatically called beginning on March 12, 2026 if both underlyings are at or above their initial values, returning principal plus the applicable interest for that month, and ending further payments. If the notes are not called and, at maturity on June 17, 2027, either underlying is below its 70% trigger value, the principal repayment is reduced one-for-one with the loss on the lesser-performing underlying, potentially resulting in a total loss of principal.

The price to the public is $1,000 per note, with selling commissions of $22.25 and proceeds to the issuer of $977.75 per note. The estimated value at pricing was $951.30 per $1,000, reflecting structuring, selling and hedging costs. The notes are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial as issuer and JPMorgan Chase & Co. as guarantor, will not be listed on an exchange, and may have limited or no secondary market liquidity.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Payment on each Review Date only if the Index closes at or above 60% of its Initial Value and can be automatically called starting December 29, 2026 if the Index is at or above its Initial Value on certain Review Dates.

If the notes are not called and the Index falls below the Trigger Value at final observation, investors lose 1% of principal for each 1% decline in the Index, with the potential to lose the entire principal. The Index embeds a 6.0% per annum daily deduction and a notional financing cost, which together drag on performance versus an equivalent index without these charges. The notes are issued in $1,000 denominations, with an illustrative estimated value of about $898.50 per $1,000 and a minimum estimated value at pricing of $880.00 per $1,000.

JPMorgan Chase Financial Company LLC is issuing $3,258,000 of unsecured Review Notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination and was priced at $1,000, with selling commissions of $44 per note and estimated value of $903.50 per note.

The notes can be automatically called as early as December 16, 2026 if the Index closing level is at or above the Call Value, paying $1,000 plus a Call Premium Amount that starts at 18.00% of $1,000 on the first Review Date and rises to 90.00% of $1,000 on the final Review Date. If never called and at maturity the Index has fallen by up to the 15.00% Buffer Amount, investors receive full principal; if it has fallen by more than 15.00%, the payout is $1,000 plus $1,000 times (Index Return + 15.00%), with potential loss of up to 85.00% of principal.

The Index embeds a 6.0% per annum daily deduction and a daily notional financing cost on the QQQ Fund, which will generally weigh on its performance and cause it to trail an otherwise identical index without these charges. The notes pay no interest, provide no dividends, are not bank deposits or FDIC insured, and expose holders to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is issuing S&P 500®-linked auto callable buffered return enhanced notes with a total price to the public of $5,473,000. The notes offer 1.40x leveraged upside on any gain in the S&P 500 Index at maturity and pay a 10.00% call premium if the Index is at or above the initial level on the December 28, 2026 review date, triggering automatic redemption on December 31, 2026. If not called, investors receive full principal at maturity so long as the Index has not fallen by more than 10.00%, but lose 1.11111% of principal for each 1% decline beyond that buffer, exposing them to a substantial loss of principal by the December 16, 2027 maturity. The notes are unsecured, unsubordinated obligations in minimum denominations of $10,000, carry no interest or dividends, have an estimated value of $982.60 per $1,000 at pricing versus a $1,000 issue price, and are subject to limited liquidity and the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.; JPMorgan has also separately committed $700,000 in unconditional donations to Blue Star Families that are not contingent on note sales.

JPMorgan Chase Financial Company LLC is offering auto callable buffered equity notes linked to the Class A common stock of CrowdStrike Holdings, Inc. in a total amount of $1,838,000, at $1,000 per note.

The notes may be automatically called on the December 28, 2026 review date if CrowdStrike’s share price is at or above the initial stock price of $504.78, paying $1,000 plus a 22.10% call premium. If not called and held to the December 16, 2027 maturity, investors get uncapped upside based on stock performance with a contingent minimum return of 44.20%, a 20.00% downside buffer and 1.25x leveraged losses beyond that buffer.

The notes pay no interest or dividends, are unsecured obligations of JPMorgan Chase Financial fully guaranteed by JPMorgan Chase & Co., and are not listed on any exchange. The estimated value at pricing was $974.70 per $1,000 note, below the public offering price, and investors face both market risk tied to CrowdStrike and the credit risk of JPMorgan entities.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Auto Callable Buffered Equity Notes linked to the S&P 500® Index. Each note has a $1,000 denomination, an Initial Index Level of 6,827.41 and a scheduled maturity on December 16, 2027.

The notes can be automatically called on December 28, 2026 if the S&P 500 closing level is at or above the Initial Index Level, paying $1,000 plus an 8.65% call premium. If not called and the Index finishes at or above its initial level, investors receive uncapped upside with a contingent minimum return of 17.30%, so at least $1,173 per $1,000 note.

The structure includes a 15.00% buffer: if the Index declines by up to that amount, principal is returned. Below this buffer, losses are leveraged, with a 1.17647% loss of principal for each 1% decline beyond 15%, potentially leading to a full loss. The total offering size is $1,680,000, the price to public is $1,000 per note, and the estimated value at pricing is $981.30 per $1,000 note. The notes pay no interest or dividends and are subject to JPMorgan credit risk and limited liquidity.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the common stock of Broadcom Inc. (AVGO), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes, in $1,000 minimum denominations, are scheduled to mature on December 27, 2030.

Holders may receive a contingent interest rate of at least 12.00% per annum, paid monthly, but only for review dates when Broadcom’s share price is at or above 50.00% of the initial value. The notes are automatically called, with return of principal plus the applicable interest, if on certain review dates the share price reaches at least 110.00% of the initial value. If the notes are not called and the final share price is below the 50.00% trigger, investors lose principal in line with the stock’s decline and can lose their entire investment.

The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial, guaranteed by JPMorgan Chase & Co., and are not bank deposits or FDIC insured. The preliminary estimated value is about $930.00 per $1,000 note and will not be less than $900.00, reflecting embedded costs and hedging. Key risks include equity market risk, issuer and guarantor credit risk, lack of liquidity, tax uncertainty, and the absence of dividends from Broadcom’s stock.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing digital buffered notes linked to the S&P 500 Index with a total offering size of $6,364,000.00. The notes pay a fixed Contingent Digital Return of 8.37% at maturity per $1,000 note if the index is at or above its initial level of 6,827.41, or down by no more than 10%. In that case, investors receive $1,083.70 per $1,000 note.

If the S&P 500 falls by more than 10%, investors lose principal at a leveraged rate of 1.11111% for each additional 1% decline, potentially losing their entire investment. The estimated value is $986.70 per $1,000 note, versus a price to the public of $1,000, reflecting selling commissions and hedging costs. The notes pay no interest or dividends, are unsecured obligations, are not FDIC insured, and are not listed on any exchange.

JPMorgan Chase Financial Company LLC is offering $1,102,000 of auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent interest rate of 11.50% per annum when, on a monthly Review Date, the Index is at or above 70% of its Initial Value. Starting December 14, 2026, the notes will be automatically called if, on certain Review Dates, the Index closes at or above its Initial Value, returning $1,000 per note plus the applicable interest.

If the notes are not called and, at maturity, the Index is below the 85% Buffer Threshold, investors lose 1% of principal for each 1% decline beyond the 15% buffer, with up to 85% principal loss possible. The Index embeds a 6.0% per annum daily deduction and a notional financing cost, which drag on performance. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and the estimated value at pricing was $904.10 per $1,000 note, below the $1,000 issue price.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $1,000,000 of auto callable barrier notes linked to the Nasdaq‑100, Russell 2000 and S&P 500. Each note has a $1,000 minimum denomination and may be automatically called as early as December 16, 2026 if all three indices are at or above 100% of their initial levels, paying back principal plus a fixed call premium (from 12.50% to 31.25% depending on the call date).

If the notes are not called and, at final observation in December 2028, all indices are above their initial levels, holders receive uncapped exposure to the least performing index’s gain. If any index finishes between 70% and 100% of its initial level, principal is returned. If any index closes below 70% of its initial level, repayment is reduced one‑for‑one with the least performer, and principal losses can reach 100%.

The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., will not be listed on an exchange and have an estimated value of $950.50 per $1,000 at pricing, below the public offering price due to fees, hedging costs and dealer compensation.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the common stock of UnitedHealth Group Incorporated, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are scheduled to mature on June 24, 2027 and have minimum denominations of $1,000.

Investors may receive a quarterly Contingent Interest Payment if the closing price of UnitedHealth stock on a Review Date is at least 65.00% of the Initial Value, with unpaid coupons potentially paid later if the barrier is later met. The notes are automatically called if, on any non-final Review Date, the stock closes at or above the Initial Value, in which case investors receive principal plus the applicable interest and any unpaid coupons.

If the notes are not called and the Final Value is below the Trigger Value, set at 65.00% of the Initial Value, repayment of principal is reduced one-for-one with the stock’s decline and investors can lose all of their investment. The issuer estimates that, if priced today, the notes would be valued at approximately $976 per $1,000 note and that the final Contingent Interest Rate will be at least 12.30% per annum.

JPMorgan Chase Financial Company LLC is offering $6,395,000 of auto callable accelerated barrier notes linked to the lesser performer of the Nasdaq-100® Technology Sector IndexSM and the Russell 2000® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a minimum denomination of $1,000, price at 100% of principal, and are expected to settle on or about December 17, 2025.

The notes can be automatically called as early as December 16, 2026 if both indices are at or above 100% of their initial values, paying principal plus a call premium of 13.75% on the first Review Date or 27.50% on the second. If not called and both final index levels are above their initial values, investors receive principal plus 2.00 times the return of the lesser-performing index; if either index finishes between 70% and 100% of its initial value, only principal is returned. If either index closes below 70% of its initial value at final valuation, repayment is reduced one-for-one with the loss in the lesser-performing index, with the possibility of a complete loss of principal.

The notes pay no interest, do not provide dividends on index constituents, and are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing was $955.00 per $1,000 note, below the issue price, and the notes will not be listed, so any secondary market will be limited and at potentially discounted prices.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $4,166,000 of market-linked, auto-callable notes due December 15, 2028. Each security has a $1,000 principal amount and is linked to the lowest performing of the EURO STOXX 50 Index, the Russell 2000 Index and the Nasdaq-100 Technology Sector Index.

The notes can be automatically called on scheduled dates if the lowest performing index is at or above its starting level, paying back principal plus a call premium based on a simple return of approximately 16.10% per year, up to 48.300% if called on the final calculation day. If not called and the worst index finishes at or above 75% of its starting level, investors receive $1,000; if it finishes below 75%, repayment is reduced one-for-one with the index loss, which can mean losing more than 25%, up to all principal.

The price to the public is $1,000 per security, with estimated value at issuance of $956 and proceeds to the issuer of $4,058,725.50 after $107,274.50 in fees and commissions. The securities are not bank deposits, are not FDIC insured and involve complex risks, including issuer and guarantor credit risk and uncertain secondary market values.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., offers auto callable contingent interest notes linked separately to the Russell 2000 Index and the S&P 500 Index, maturing in December 2026. The notes can pay quarterly contingent interest at a rate expected to be at least 7.75% per annum if, on a Review Date, each index closes at or above 60% of its initial level. The notes are automatically called, returning principal plus that period’s interest, if on any non-final Review Date each index is at or above its initial value.

At maturity, if not called, investors receive principal plus the final contingent interest if no “Trigger Event” has occurred or if the lesser-performing index finishes at or above its initial value. If a Trigger Event occurs and the lesser-performing index ends below its initial value, repayment is reduced one-for-one with that index’s decline, and principal loss can be total. The notes are unsecured, will not be listed, have an estimated value below issue price due to fees and hedging costs, and do not pay dividends on the underlying indices.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is issuing Digital Buffered Notes linked to the front-month WTI crude oil futures contract on NYMEX. The notes are priced at $1,000 each, for a total offering size of $500,000, with proceeds to the issuer of $494,790. The actual Contract Strike Price is the futures settlement price on the December 11, 2025 strike date, which was $57.60 per barrel.

If the Ending Contract Price on the January 14, 2027 observation date is at or above the strike, or down to 14.00% below it, investors receive a fixed Contingent Digital Return of 14.10%, for a maximum maturity payment of $1,141.00 per note on the January 20, 2027 maturity date. If the futures price falls by more than the 14.00% buffer, principal is reduced at a 1.16279 downside leverage factor, and the payment can fall to zero.

The estimated value of the notes at pricing was $978.30 per $1,000 note, reflecting selling commissions and hedging costs. The notes are unsecured obligations, not bank deposits, not insured by the FDIC or any government agency, and are exposed to WTI crude oil futures volatility, tax-uncertainty around "open transaction" treatment, and limited secondary market liquidity.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $701,000 of auto callable accelerated barrier notes linked to the Dow Jones Industrial Average®, the Nasdaq-100 Index® and the Russell 2000® Index, maturing on December 17, 2030. The notes may be automatically called as early as December 18, 2026, paying $1,000 plus a $120 Call Premium Amount per note if each index is at or above its Call Value on the Review Date.

If not called and each index finishes above its Initial Value at maturity, investors receive an uncapped payoff equal to $1,000 plus 2.1045 times the appreciation of the least performing index. If any index ends below its Initial Value but at or above 70% of its Initial Value, investors receive only the $1,000 principal. If any index finishes below 70% of its Initial Value, repayment is reduced 1% for every 1% decline in the least performing index, down to a total loss of principal.

The notes pay no interest, provide no index dividends, are unsecured and unsubordinated obligations of JPMorgan Chase Financial, and are subject to the credit risk of both the issuer and JPMorgan Chase & Co. Fees and commissions are $41.25 per $1,000 note, leaving issuer proceeds of $958.75, and the estimated value is $943.10 per $1,000, lower than the issue price due to selling, structuring and hedging costs.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $1,284,000 of auto callable contingent interest notes linked separately to the Nasdaq-100 Index®, the S&P 500® Index and the State Street® SPDR® S&P® Regional Banking ETF, maturing in November 2027. Investors may receive monthly contingent interest at a rate of 12.15% per annum (1.0125% per month) only when the closing value of each underlying is at or above 70% of its initial value.

The notes can be automatically called as early as March 12, 2026 if, on a review date (other than the first, second and final), each underlying is at or above its initial value, in which case investors receive $1,000 per note plus the applicable interest and no further payments. If the notes are not called and, at maturity, any underlying finishes below 60% of its initial value, repayment of principal is reduced in line with the decline of the worst-performing underlying, and investors can lose most or all of their investment.

The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not bank deposits, and are not FDIC insured. The public offering price is $1,000 per note, including $7.25 in selling commissions, while the initial estimated value is $982.60, reflecting embedded costs, hedging and structuring factors.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent interest only if, on a Review Date, the Index closes at or above 60% of its initial level; missed interest can be paid later if a future Review Date meets this barrier.

The notes may be automatically called on certain Review Dates starting December 29, 2026 if the Index is at or above its initial level, returning principal plus applicable interest but ending any future payments. If the notes are not called and the Index finishes below the 60% trigger level at maturity, investors lose principal in line with the Index decline and could lose their entire investment.

The underlying Index uses a 35% target volatility, can employ up to 500% leveraged exposure 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 notes are unsecured obligations of JPMorgan Financial, subject to the credit risk of both the issuer and JPMorgan Chase & Co., are issued in $1,000 minimum denominations, and are not bank deposits or FDIC insured.

JPMorgan Chase Financial Company LLC is offering unsecured review notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be called early on scheduled Review Dates starting December 22, 2026 if the Index closes at or above 90% of its initial level, paying back $1,000 plus a Call Premium Amount that starts at at least 18% of principal and can reach at least 54% on the final Review Date.

If the notes are not called and the Index finishes at or above 80% of its initial level on the final Review Date, investors receive their $1,000 principal back. If the Index ends below that 80% barrier, repayment is reduced one-for-one with the Index loss, down to a complete loss of principal. The Index includes a 6.0% per annum daily deduction and can employ leverage up to 500% or be significantly uninvested, features that can materially drag on performance and increase volatility. The estimated value at launch is expected to be between $900 and $920 per $1,000 note.

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 January 3, 2031. The notes may be automatically called as early as December 30, 2026 if the Index closes at or above the Call Value, paying back principal plus a Call Premium Amount based on a Call Premium Rate of at least 16.35%.

These notes pay no interest or dividends and expose investors to loss of more than 40% and up to all principal if the Final Value is below 60% of the Initial Value at maturity. The Index embeds a 6.0% per annum daily deduction and a notional financing cost on the QQQ Fund, which drag on performance. The estimated value is indicated at about $896.70 per $1,000 note at today’s assumptions and will not be less than $880.00 at pricing, reflecting selling commissions, hedging costs and issuer funding assumptions.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked separately to the Nasdaq-100® Technology Sector IndexSM, the State Street® SPDR® S&P® Regional Banking ETF and the State Street® Consumer Discretionary Select Sector SPDR® ETF, maturing on December 22, 2028 and guaranteed by JPMorgan Chase & Co. Investors may receive monthly contingent interest at a rate of at least 11.15% per annum if, on a Review Date, the closing value of each underlying is at or above 70% of its Initial Value; missed coupons can be paid later if the barrier is met. The notes may be automatically called as early as June 22, 2026 if each underlying is at or above its Initial Value, returning principal plus due interest. If not called and any underlying finishes below its 60% Trigger Value, repayment is reduced in line with the loss on the worst performer, and investors can lose a large portion or all of principal. The notes are unsecured, not FDIC insured, have limited liquidity, and an estimated value below the $1,000 issue price reflects embedded fees and hedging costs.

JPMorgan Chase & Co. is offering $7,524,000 of callable fixed rate notes due December 17, 2029. The notes pay fixed interest at an annual rate of 4.15%, with interest paid in arrears each December 17, starting in 2026, using a 30/360 day count convention. The issuer may redeem the notes in whole, but not in part, on the 17th of March, June, September and December from December 17, 2027 through September 17, 2029 at par plus accrued interest.

At issuance, the price to the public is $1,000 per note, including hedging costs, with selling commissions of $3.483 per $1,000 note. Total proceeds to JPMorgan Chase & Co. are $7,497,791 before other expenses. Investors are exposed as unsecured creditors of JPMorgan Chase & Co., and in a resolution scenario their claims would be structurally subordinated to creditors of its subsidiaries.

JPMorgan Chase Financial Company LLC is offering $365,000 of auto callable contingent interest notes linked to the least performing of the S&P 500 Index, the VanEck Semiconductor ETF and the Utilities Select Sector SPDR Fund, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are scheduled to mature on December 15, 2028 and are issued in $1,000 minimum denominations.

The notes pay a monthly contingent coupon of $8.0417 per $1,000 (a 9.65% per annum rate) only if, on each Review Date, the closing value of each underlying is at or above 60% of its initial value. Beginning June 12, 2026, the notes are automatically called if all three underlyings are at or above their initial values, returning $1,000 plus the applicable coupon, with no further payments.

If the notes are not called and, on the final Review Date, any underlying finishes below 60% of its initial value, repayment of principal is reduced one-for-one with the decline of the worst performer; investors can lose more than 40% and up to all of their principal. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The public issue price is $1,000 per note, while the issuer’s estimated value is $951.20, and the notes are not listed, so liquidity may be limited.

JPMorgan Chase Financial Company LLC plans to issue Uncapped Dual Directional Buffered Return Enhanced Notes linked to the Nasdaq-100, Russell 2000 and S&P 500 indexes, maturing on December 22, 2027 and fully guaranteed by JPMorgan Chase & Co.

The notes pay no interest and do not provide dividends. At maturity, if all three indexes are above their initial levels, investors receive the $1,000 principal plus at least 1.0965 times the gain of the weakest index. If the weakest index is flat or down by up to the 20.00% buffer, investors earn a positive return equal to the absolute move of that weakest index, up to a 20.00% gain.

If any index falls by more than 20.00%, repayment is reduced point-for-point beyond the buffer, for a maximum loss of 80.00% of principal. Minimum denomination is $1,000. An example estimated value is $987.40 per $1,000 note, and the final estimated value will be at least $950.00, reflecting embedded selling commissions, hedging costs, the credit risk of the issuer and guarantor, and the likelihood that any secondary market price will generally be below the original issue price.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured “Review Notes” linked separately to the Dow Jones Industrial Average, Nasdaq‑100 Index and Russell 2000 Index, maturing in December 2028. The notes may be automatically called on review dates starting in December 2026 if each index is at or above 100% of its initial level, paying back $1,000 plus a call premium of at least 13.60%, 27.20% or 40.80% depending on when they are called.

If the notes are never called and, at maturity, any index has fallen below 70% of its initial level, repayment is reduced one‑for‑one with the weakest index and investors can lose all principal. The notes pay no interest and give no dividends. The minimum denomination is $1,000, and the estimated initial value is about $957.40 per $1,000 note, not less than $900, reflecting embedded fees and hedging costs.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the common stock of Alcoa Corporation (AA). The notes pay a Contingent Interest Payment of at least $52.90 per $1,000 on each Interest Payment Date if Alcoa’s closing price on the related Review Date is at or above an Interest Barrier set at 65.00% of the Stock Strike Price, for maximum total coupons of $211.60 if all four are paid.

The notes are automatically called on any non-final Review Date if Alcoa closes at or above the Stock Strike Price, returning $1,000 plus the applicable coupon and any unpaid coupons. If not called, investors receive full principal at the December 31, 2026 maturity only if the Final Stock Price is at or above the Trigger Level, also 65.00% of the Stock Strike Price; otherwise the repayment is reduced one-for-one with Alcoa’s decline, down to $0 in the worst case. The preliminary estimated value is about $971.30 per $1,000 note and will not be less than $960.00 when finalized. These unsecured notes are not bank deposits and are not FDIC insured.

JPMorgan Chase Financial Company LLC is offering $23,538,900 of Trigger Autocallable GEARS linked to the common stock of Advanced Micro Devices, Inc. (AMD), fully and unconditionally guaranteed by JPMorgan Chase & Co. Each Security has a $10 principal amount and a term to December 15, 2028, unless automatically called earlier.

If on the December 18, 2026 Observation Date AMD’s closing price is at or above the Autocall Barrier of $210.78 (100% of the Initial Value), the notes are automatically called and pay $12.00 per $10 Security, a fixed 20.00% Call Return, with no further upside. If not called, and AMD finishes above the Initial Value at final valuation, maturity payout increases with AMD’s gain, multiplied by 1.90 Upside Gearing. If AMD ends at or below the 50.00% Downside Threshold of $105.39, repayment is reduced one-for-one with AMD’s decline, up to a total loss of principal.

The notes pay no interest, do not provide AMD dividends, are unsecured obligations of JPMorgan Financial, and are not exchange-listed. UBS receives $0.25 per $10 in selling commissions, leaving issuer proceeds of $22,950,427.50. The estimated value at pricing was $9.613 per $10, highlighting embedded fees and hedging costs. Investors face both market risk tied to AMD and credit risk of JPMorgan Financial and JPMorgan Chase & Co., and tax treatment is complex and uncertain.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Callable Contingent Interest Notes due December 20, 2028 linked to the worst performer among three State Street sector ETFs: Energy Select Sector SPDR (XLE), Consumer Discretionary Select Sector SPDR (XLY) and SPDR S&P Regional Banking (KRE).

The notes pay a quarterly contingent interest rate of at least 12.50% per annum (at least $31.25 per $1,000) only if on a Review Date each ETF is at or above 70% of its Initial Value. Missed coupons can be paid later if the condition is met. JPMorgan may redeem the notes early on specified interest payment dates starting June 18, 2026, returning $1,000 per note plus any due contingent interest and unpaid coupons.

At maturity, if any ETF is below 60% of its Initial Value, principal is reduced one-for-one with the decline of the worst ETF, and investors can lose more than 40% and up to all of their principal. The estimated value on the pricing date is expected to be below the $1,000 issue price, reflecting structuring and hedging costs, and the notes are unsecured, unlisted obligations subject to the credit risk of both JPMorgan entities.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Capped Buffered Equity Notes linked to the S&P 500® Index, maturing on December 23, 2027. These structured notes give 1.00x exposure to any positive Index performance, but gains are capped at a maximum return of at least 21.90%, so the maximum payment at maturity is at least $1,219 per $1,000 note.

The notes include a 15.00% downside buffer: if the S&P 500® falls by up to 15% from the pricing date to the observation date, investors receive full principal back at maturity. If the Index declines by more than 15%, principal is reduced 1% for each additional 1% drop, up to a maximum loss of 85.00%, so investors could receive as little as $150 per $1,000 note.

The notes pay no interest, do not pass through S&P 500® dividends, and are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. If priced on the example date, the estimated value would be about $982.90 per $1,000 note and will not be less than $900.00 per $1,000 when finalized, reflecting structuring, distribution and hedging costs.

JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., is offering unsecured Auto Callable Contingent Interest Notes linked to the Nasdaq-100 Index, the SPDR S&P Regional Banking ETF and the VanEck Semiconductor ETF, maturing on November 22, 2027, in minimum $1,000 denominations.

The notes pay a monthly contingent coupon of at least 1.02083% (equivalent to at least 12.25% per year) for any Review Date when each underlying closes at or above 65% of its Initial Value, and may be automatically called as early as March 17, 2026 if, on an eligible Review Date, each underlying is at or above its Initial Value, returning $1,000 plus the applicable coupon.

If the notes are not called and the Final Value of any underlying is below 55% of its Initial Value, repayment is $1,000 plus $1,000 times the return of the worst performer, so investors lose more than 45% of principal and could lose it all; interest is not guaranteed, there are no dividend rights, liquidity may be limited, payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co., and if priced on the indicated date the estimated value would be about $966.30 per $1,000, with the final estimated value not less than $930.00.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable digital barrier notes linked to the worst performer of the State Street Industrial Select Sector SPDR ETF (XLI), the State Street Technology Select Sector SPDR ETF (XLK) and the EURO STOXX 50 Index, maturing on December 22, 2028.

The notes are issued in $1,000 minimum denominations and may be automatically called on December 28, 2026 if each underlying is at or above its Call Value, paying $1,000 plus a Call Premium Amount of at least $226. If not called and all underlyings finish at or above their initial values, investors receive $1,000 plus the greater of a 30.00% Contingent Digital Return or the return of the least performing underlying. If any underlying finishes below 60.00% of its initial value, investors lose principal in line with the loss on the least performer and can lose their entire investment. The notes pay no interest or dividends, are unsecured obligations subject to JPMorgan credit risk, and have an estimated value of about $956.50 per $1,000, not less than $900.00 at pricing.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable accelerated barrier notes linked to the iShares Bitcoin Trust ETF (IBIT) and maturing on January 4, 2029. The notes may be automatically called on December 31, 2026 if the ETF’s closing price is at or above the Initial Value, paying $1,000 plus a call premium of at least $145 per $1,000 note.

If not called and the ETF ends above the Initial Value on the December 29, 2028 observation date, holders receive $1,000 plus 1.5 times the ETF’s price gain. If the final price is at or below the Initial Value but at or above 60% of it, principal is returned at par. Below the 60% barrier, losses are one-for-one with the ETF decline and can reach 100% of principal.

The notes pay no interest, are unsecured obligations subject to the credit risk of JPMorgan entities, and carry significant volatility and regulatory risks tied to bitcoin and the bitcoin market. If priced on the sample date, the estimated value would be about $914.10 per $1,000 note and will not be less than $900.00 when finalized.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $668,000 of unsecured Uncapped Accelerated Barrier Notes linked to the lesser performance of the SPDR® S&P 500® ETF Trust (SPY) and the Invesco QQQ TrustSM, Series 1 (QQQ), maturing on December 15, 2028.

The notes pay no interest or dividends. At maturity, if both funds finish above their initial prices, holders receive $1,000 plus 1.215 times the lesser fund’s positive return per note. If either fund is at or below its initial level but both stay at or above 70.00% of initial, only principal is repaid. If either closes below 70.00% of initial, repayment is reduced one-for-one with the lesser fund’s loss, up to a total loss of principal.

The price to public is $1,000 per note, including $6 in selling commissions, and the total offering is $668,000. The estimated value at pricing was $980.80 per $1,000 note. The notes are not bank deposits, are not FDIC insured, and all payments are subject to the credit risk of both the issuer and the guarantor.

JPMorgan Chase Financial Company LLC is offering $1,400,000 of capped buffered equity notes linked to the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are scheduled to mature on December 16, 2027 and are issued in minimum denominations of $1,000.

At maturity, investors receive 1.00x any S&P 500® gain up to a maximum return of 24.90%, so the most an investor can receive is $1,249 per $1,000 note. Principal is protected only within a 15.00% downside buffer: if the Index is down 15% or less, investors get back $1,000; below that, they lose 1% of principal for each 1% additional Index decline, up to an 85.00% loss of principal.

The notes pay no interest, do not provide dividends from the Index’s stocks, and are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. They are not bank deposits, are not FDIC insured, will not be listed on an exchange and may be hard to sell. The price to public is $1,000 per note, including $5 in selling commissions, while the estimated value at pricing was $988.70.

JPMorgan Chase Financial Company LLC is offering $250,000 of auto callable Contingent Interest Notes linked to the Class A common stock of Vertiv Holdings Co, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a monthly contingent coupon of $13.9583 per $1,000 principal (a 16.75% annual rate) only when Vertiv’s closing share price on a review date is at or above 60% of the $161.27 initial value, and any skipped coupons can be paid later if this condition is met.

The notes can be automatically called starting March 12, 2026 if Vertiv’s share price on specified review dates is at least the initial value, returning $1,000 per note plus the applicable coupon and any unpaid coupons. If the notes are not called and Vertiv’s final share price on the June 14, 2027 review date is at least 50% of the initial value, holders receive full principal plus due coupons. If it is below 50%, repayment is reduced in proportion to Vertiv’s loss, so investors can lose more than half, up to all, of their principal.

The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial and expose holders to the credit risk of both the issuer and guarantor. The price to the public is $1,000 per note, including $22.25 of selling commissions, while JPMorgan’s own estimated value at pricing was $946, reflecting embedded fees, structuring and hedging costs. The notes are not listed on an exchange, may be hard to sell, and do not pay dividends on Vertiv stock.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering long‑dated Callable Range Accrual Notes linked to the 10‑Year Constant Maturity Treasury (CMT) rate. The notes pay a fixed 10.50% per annum during the initial interest periods through December 31, 2026, with monthly interest payments.

After that, interest becomes variable and depends on how often, during each interest period, the 10‑Year CMT rate is at or below 5.00%. For these later periods, the interest rate can range from a minimum of 0.00% to a maximum of 10.50% per annum. The issuer may redeem the notes in whole, but not in part, on the last calendar day of each month starting December 31, 2026, at 100% of principal plus accrued interest.

The estimated value, if the notes priced on the described terms, would be about $945.80 per $1,000 principal amount, and will not be less than $910.00 per $1,000 when finally set. Selling commissions are expected to be approximately $27.50 and will not exceed $50.00 per $1,000 principal. The notes are unsecured obligations, not bank deposits, and are not insured by the FDIC or any government agency.

JPMorgan Chase Financial Company LLC is offering unsecured Uncapped Accelerated Barrier Notes linked to the lesser performing of the Nasdaq-100 Technology Sector Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price on or about December 12, 2025, settle around December 17, 2025 and mature on December 17, 2029, in minimum denominations of $1,000.

At maturity, if both indexes finish above their initial levels, investors receive $1,000 plus an amplified gain equal to the lesser index return times an upside leverage factor of at least 1.3665. If either index is at or below its initial level but both stay at or above 70% of their initial levels, investors receive only their principal back. If either index closes below 70% of its initial level, repayment is reduced one-for-one with the decline of the lesser performing index, which can lead to a loss of more than 30% and up to all principal.

The notes pay no interest or dividends and are subject to the credit risk of both JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. If the notes priced on the reference date described, the estimated value would be approximately $980.60 per $1,000, and the final estimated value at pricing will not be less than $950, reflecting selling commissions, projected hedging profits and hedging costs included in the $1,000 price to the public.

JPMorgan Chase Financial Company LLC is offering structured review notes linked to the MerQube US Large-Cap Vol Advantage Index, featuring an automatic call and full principal-at-risk exposure.

The notes can be automatically called on scheduled Review Dates from December 30, 2026 through December 30, 2030 if the index closes at or above the applicable Call Value, paying $1,000 plus a Call Premium Amount based on a Call Premium Rate of at least 14.00%. If the notes are not called and the final index level is below the 60.00% Barrier Amount, repayment equals $1,000 plus $1,000 times the index return, so investors lose more than 40% of principal and can lose it all. The index itself uses leveraged exposure of 0%–500% to E-mini S&P 500 futures and applies a 6.0% per annum daily deduction, which drags performance versus an identical index without such a fee. The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., with an estimated value currently illustrated at about $888 per $1,000 note and not less than $870 per $1,000 note when finalized.

JPMorgan Chase Financial Company LLC is offering Auto Callable Accelerated Barrier Notes due January 3, 2031, linked to the MerQube US Large-Cap Vol Advantage Index and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are issued in $1,000 minimum denominations at a price to public of $1,000 per note.

The notes may be automatically called as early as December 31, 2026 if the Index is at or above its Initial Value, paying back $1,000 plus a call premium of at least 18.900% on the first Review Date, rising to at least 37.800% by the fifth. If not called and the Index is above its Initial Value at maturity, investors receive 5.00 times the Index gain; if the Index is at or above 50.00% of the Initial Value, principal is returned. If the Index closes below that 50.00% barrier at maturity, losses are one-for-one with the Index decline, up to a total loss of principal. The Index itself is reduced by a 6.0% per annum daily deduction, which drags on performance. The notes pay no interest, provide no dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and are not FDIC insured. If priced on the described terms today, the estimated value would be about $888.40 per $1,000 note and will not be less than $870.00 per $1,000 when set.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering approximately 3‑year Trigger Autocallable Contingent Yield Notes linked to the lesser performing of the Russell 2000 Index and the State Street Energy Select Sector SPDR ETF. The notes are issued at $10 per note, with a minimum investment of $1,000, and pay quarterly contingent coupons at a rate of at least 9.15% per annum only when both underlyings are at or above their coupon barriers.

The notes can be automatically called each quarter after an initial six‑month non‑call period if both underlyings are at or above their initial values, returning principal plus the applicable coupon. If held to maturity and both final values are at or above 70% of their initial values (1,786.020 for the Russell 2000 and $31.86 for XLE, based on initial levels of 2,551.457 and $45.51), investors receive full principal plus the final coupon; otherwise, they receive less than principal in proportion to the loss of the weaker underlying.

The notes are unsecured and unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not listed on any exchange and may be illiquid. Fees and hedging costs mean the estimated value is lower than the issue price, at approximately $9.617 per $10 note on the terms illustrated, and not less than $9.30, and the tax treatment is complex, with contingent coupons expected to be treated as ordinary income.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured structured notes linked to the S&P 500 Futures Excess Return Index that mature on December 21, 2028.

The notes provide at least 1.25 times any index gain, while also paying a positive return if the index is flat or down by up to the 25.00% buffer, using the absolute value of that move. If the index falls by more than 25.00%, investors lose about 1.33333% of principal for each additional 1% decline, which can result in a substantial or total loss of principal.

The notes pay no interest, have $1,000 minimum denominations and are not listed, so liquidity may be limited. The issuer estimates the value at approximately $986.00 per $1,000 principal amount today and at no less than $950.00 at pricing, below the issue price because of commissions and hedging costs. Returns also depend on the performance of futures on the S&P 500, which can differ from the cash index due to factors such as roll costs, volatility and market disruptions.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Uncapped Buffered Return Enhanced Notes linked to the S&P 500 Futures Excess Return Index, maturing on December 24, 2030. Each note has a $1,000 minimum denomination and is designed to pay at maturity 1.383 times any positive Index return, with no cap, based on the Index level on the pricing and final observation dates.

If the Index is flat or down by up to 30%, investors receive back their $1,000 principal. If the Index falls by more than 30%, principal is reduced 1-for-1 beyond that buffer, up to a 70% loss, so the minimum payment is $300 per $1,000 note. The notes pay no interest, are unsecured obligations subject to the credit risk of both JPMorgan entities, are not futures or bank deposits, and will not be listed on an exchange. The indicative estimated value is about $948.10 per $1,000, and at pricing will not be less than $900, reflecting selling commissions, hedging costs and internal funding assumptions.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable yield notes linked to the least performing of Baker Hughes, SLB and Halliburton common stock, maturing on December 16, 2027. The notes pay at least 9.25% per annum, credited at a rate of at least 2.3125% per quarter, on $1,000 minimum denominations.

The notes are automatically called, with return of principal plus the applicable interest, if on any review date before maturity the closing price of one share of each reference stock is at or above its strike value, starting June 12, 2026. If not called, and on the final review date each stock stays at or above its trigger value (60% of strike), investors receive $1,000 plus final interest; if any stock falls below its trigger, repayment is reduced in proportion to the worst performer and investors can lose more than 40% or even all principal. The notes are unsecured, not listed, pay no dividends, and the estimated value is about $946.70 per $1,000 note and will not be less than $920.00, reflecting embedded costs and hedging.

JPMorgan Chase Financial Company LLC is offering structured capped notes linked to the lesser performer of the Russell 2000 Index and the Dow Jones Industrial Average, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price around December 15, 2025, settle around December 18, 2025, and mature on December 19, 2030, in minimum denominations of $1,000, with repayment of principal at maturity subject to the credit risks of the issuer and guarantor.

Investors forgo interest and dividends but participate 100% in any positive return of the weaker index through an additional amount equal to the lesser performing index return times $1,000, capped at a maximum amount of at least $480 (a 48% gain) per note. The document states that if priced today the estimated value would be about $950 per $1,000 note and will not be less than $920 when set, and it highlights risks such as limited liquidity, capped upside, credit risk, small-cap exposure and potential conflicts of interest.

JPMorgan Chase Financial Company LLC is issuing auto callable contingent interest notes linked separately to the MSCI EAFE, Russell 2000 and S&P 500 indexes, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent coupon of at least 9.15% per year (2.2875% per quarter) only when each index closes at or above 70% of its initial level on a review date, and they can be automatically called as early as June 22, 2026.

If not called, the notes mature on December 24, 2030. Principal is protected only while every index stays at or above 70% of its initial level; if any index ends below that trigger, repayment is reduced in line with that index’s loss, so investors can lose a large portion or all of the $1,000 principal. The estimated initial value is about $960 per $1,000 note and will not be less than $940.

JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., is offering capped notes linked to the least performing of the S&P 500, Russell 2000 and Nasdaq‑100 through December 22, 2028. For each $1,000 note, investors receive 100% participation in any positive return of the worst-performing index, up to a maximum return of at least 23.00%, or at least $230.00 per $1,000, plus repayment of principal at maturity.

If any index ends at or below its initial level, the additional return is zero and investors receive only their $1,000 principal, with no protection against inflation. The notes pay no interest, pass through no dividends, are unsecured and unsubordinated obligations subject to the credit risk of the issuer and guarantor, and will not be listed, so liquidity may be limited and secondary prices are expected to be below the issue price. If priced on the example date, the estimated value would be about $964.30 per $1,000, and the final estimated value will be at least $900.00. U.S. tax disclosure indicates the notes are expected to be treated as contingent payment debt instruments, requiring annual original issue discount accruals.

JPMorgan Chase Financial Company LLC is issuing $500,000 of Auto Callable Contingent Interest Notes linked to the Class A common stock of Pinterest, Inc., maturing December 14, 2028 and fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes pay a monthly Contingent Interest Payment of $13.1667 per $1,000 principal amount (a 15.80% per annum rate) for any Interest Review Date when Pinterest’s closing price is at or above the Interest Barrier, set at 60.00% of the Strike Value of $27.79, or $16.674. Beginning June 10, 2026, on quarterly Autocall Review Dates, the notes are automatically called at $1,000 plus the applicable interest if the stock closes at or above the Strike Value.

If not called, at maturity investors receive $1,000 plus any final interest if the Final Value is at least the Trigger Value, which is 50.00% of the Strike Value, or $13.895. If the Final Value is below the Trigger Value, repayment is reduced in proportion to Pinterest’s decline, so investors can lose more than 50.00% and up to all principal, and may receive no interest if the stock stays below the barrier. The notes are unsecured, unsubordinated obligations of JPMorgan Financial, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The price to public is $1,000 per note, including $3.50 in selling commissions, while the issuer’s estimated value is $957.10 per $1,000, and the notes will not be listed on an exchange.

JPMorgan Chase & Co. is offering $9,000,000 of Callable Fixed Rate Notes due December 15, 2055. The notes pay fixed interest of 5.70% per year on $1,000 principal amounts, with interest paid annually on December 15 starting in 2026, and principal plus accrued interest due at maturity if the notes have not been called.

The issuer may redeem the notes in whole, but not in part, on June 15 and December 15 of each year from December 15, 2027 through June 15, 2055 at par plus accrued interest. The public offering price is $1,000 per note, including selling commissions of $10.361 per $1,000, resulting in proceeds to JPMorgan Chase & Co. of $8,906,750 before hedging costs.

The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits or insured by the FDIC or any government agency, and in a resolution of JPMorgan Chase & Co. losses could be imposed on holders as unsecured creditors after equity holders and behind creditors of key subsidiaries and priority and secured creditors.

JPMorgan Chase Financial Company LLC is offering Autocallable Leveraged Index Return Notes linked to Broadcom Inc. common stock at $10 per unit. The notes run for about two years and may be automatically called after roughly one year if the stock is at or above its starting value, paying a call amount of $12.50–$12.70 per unit (a 25.00%–27.00% return). If not called, maturity payments are based on stock performance: gains are multiplied by a 150.00% participation rate when the stock finishes above its starting value.

If the ending stock price is below the starting value but at or above 65.00% of it, holders earn a positive absolute return equal to the percentage decline, up to 35.00%. Below that 65.00% threshold, investors are exposed 1-for-1 to further losses and can lose their entire principal. The notes pay no interest, provide no dividends, and have limited secondary market liquidity. The initial estimated value is expected to be $9.40–$9.644 per unit, less than the $10.00 public offering price, and all payments depend on the credit of JPMorgan Chase Financial Company LLC and guarantor JPMorgan Chase & Co.