Alerian MLP Index ETNs due January 28 2044 424B Filings

JPMorgan Chase & Co. is offering callable fixed-rate notes due December 21, 2029. The notes pay interest annually at a fixed rate of 4.20% per annum, using a 30/360 day count, with interest payable each December 23 starting in 2026 and on the maturity date, if the notes have not been called.

Beginning December 23, 2027, and then on the 23rd day of March, June, September and December through September 23, 2029, JPMorgan may redeem the notes in whole at par plus accrued interest. The notes are unsecured obligations of JPMorgan Chase & Co., rank junior to creditors of its subsidiaries, are not bank deposits and are not insured by the FDIC or any government agency. The disclosure highlights that in a resolution scenario under U.S. bankruptcy or Title II of the Dodd-Frank Act, holders of these notes could face losses and recover only after priority and secured creditors.

JPMorgan Chase & Co. is offering $2,100,000 of callable fixed rate notes due December 12, 2033. These senior notes pay interest annually at a fixed rate of 4.55% per annum, using a 30/360 day count, with payments on December 12 of each year starting December 12, 2026, as long as the notes remain outstanding.

Beginning December 12, 2027, and on the 12th of March, June, September and December through September 12, 2033, JPMorgan may redeem the notes in whole at par plus accrued interest. If not called, investors receive principal plus accrued interest at maturity.

The notes are priced at $1,000 per $1,000 principal amount for most investors, with total price to the public of $2,099,190 and issuer proceeds of $2,081,150 after fees. They are unsecured obligations of JPMorgan Chase & Co., are not bank deposits and are not insured by the FDIC or any government agency. The documents highlight resolution and bankruptcy risks, and investors are directed to detailed risk and tax discussions in the accompanying materials.

JPMorgan Chase Financial Company LLC is issuing $520,000 of Buffered Digital Notes linked to the Nasdaq-100® Technology Sector IndexSM, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a fixed 10.40% return at maturity on January 14, 2027 if the least performing index is at or above its initial level, or down by no more than the 15.00% buffer.

If any index falls by more than 15.00%, repayment is reduced on a one-for-one basis beyond the buffer, and investors can lose up to 85.00% of principal. The price to the public is $1,000 per note, with an estimated value of $981.00 per $1,000 at pricing, reflecting selling commissions and hedging costs. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and are not expected to be listed, which may limit liquidity.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the Class A common stock of Pinterest, Inc. The notes pay a monthly Contingent Interest Payment of at least $13.1667 per $1,000 (a rate of at least 15.80% per annum) for any Interest Review Date on which Pinterest’s closing share price is at or above the Interest Barrier of $16.674, which is 60.00% of the Strike Value of $27.79 set on December 10, 2025.

The notes can be automatically called on specified quarterly dates starting June 10, 2026 if Pinterest’s share price is at or above the Strike Value, in which case investors receive $1,000 plus the applicable contingent interest and the notes terminate early. If the notes are not called and the final Pinterest price on December 11, 2028 is below the Trigger Value of $13.895 (50.00% of the Strike Value), investors lose 1% of principal for each 1% decline from the Strike Value and can lose all principal. The notes are unsecured, not listed, subject to JPMorgan credit risk and have an estimated value initially below the $1,000 price, with an example estimate of $957.10 per note and a minimum of $920.00.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Review Notes linked to the MerQube US Tech+ Vol Advantage Index, designed to provide an automatic early call at a premium if the index closes at or above a set call level on scheduled review dates.

The notes have a price to public of $1,000 per note, an expected maturity on January 13, 2033, and may be automatically called as early as April 14, 2027, paying back principal plus a call premium based on a rate of at least 20.00%. If the notes are not called and the final index level is below 60% of the initial level, investors lose principal in line with the index decline and can lose their entire investment. The index embeds a 6.0% per annum daily deduction and a notional financing cost, which both act as a drag on performance, and the estimated value of the notes is indicated at about $919.10 per $1,000 principal amount.

JPMorgan Chase & Co. is offering $9,600,000 of callable fixed rate notes due December 12, 2045. The notes pay fixed interest at 5.30% per annum, with interest paid yearly in arrears on December 12, beginning in 2026, using a 30/360 day count convention. At maturity, investors receive the principal plus any accrued and unpaid interest if the notes have not been redeemed earlier.

Starting December 12, 2028, and on June 12 and December 12 each year through June 12, 2045, JPMorgan may redeem all (but not part) of the notes at par plus accrued interest. The price to the public is $1,000 per note, with selling commissions of $27.375 per $1,000, resulting in $9,337,200 in proceeds to the issuer. The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits and are not insured by the FDIC or any other governmental agency, and in a resolution scenario investors rank behind creditors of JPMorgan’s subsidiaries.

JPMorgan Chase & Co. is offering callable zero coupon notes due December 23, 2050. Each note has a $1,000 principal amount but is initially sold at $222.638, with no periodic interest payments. Instead, the value of each note increases over time at a 6.10% annual yield, compounded semiannually on a 30/360 basis, reaching 100% of principal at maturity if not earlier redeemed.

Starting December 23, 2027 and every June 23 and December 23 thereafter through June 23, 2050, JPMorgan may redeem all outstanding notes at the applicable Accreted Principal Amount, as shown in the accretion schedule (for example, $251.068 per $1,000 on December 23, 2027 and $970.403 on June 23, 2050). In an event of default, the payment is also limited to the Accreted Principal Amount on the acceleration date.

The notes are unsecured obligations of JPMorgan Chase & Co. and are structurally subordinated to liabilities of its subsidiaries. Under U.S. resolution frameworks, losses could be imposed on noteholders ahead of subsidiary creditors, and recoveries may be limited. Estimated selling commissions are about $7.792 per $1,000 note (3.50% of the price to public) and will not exceed $11.132 (5.00%).

JPMorgan Chase Financial Company LLC is issuing $1,492,000 of index-linked Review Notes tied to the Dow Jones Industrial Average®, Nasdaq-100 Index® and S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes can be automatically called as early as December 11, 2026 if each index closes at or above its Call Value on a Review Date, paying $1,000 principal plus a fixed Call Premium that steps up from $81.00 to $405.00 per $1,000 note depending on the call date. If the notes are not called, investors receive full principal at maturity only if the Final Value of the Least Performing Index is at or above its Barrier Amount; if any index finishes below its Barrier Amount, the payoff is reduced by 1% for every 1% decline of the Least Performing Index from its Initial Value, which can result in loss of the entire principal.

The notes pay no interest or dividends, are unsecured and unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not be listed on any exchange. The price to public is $1,000 per note, while the estimated value at pricing is $942.20 per $1,000 note, reflecting embedded selling, structuring and hedging costs and implying secondary market values below the issue price.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Digital Barrier Notes linked to the least performing of the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, maturing on January 22, 2027. The notes are designed to pay a fixed return of at least 9.50% at maturity per $1,000 note if the final level of each index is at or above 70.00% of its initial level, called the Barrier Amount.

If any index closes below its Barrier Amount on the observation date, investors lose 1% of principal for each 1% decline of the least performing index from its initial level and can lose their entire investment. The notes pay no interest or dividends, are unsecured and unsubordinated, and will not be listed on an exchange, so liquidity will depend on J.P. Morgan Securities LLC making a market. The preliminary estimated value is about $983.50 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 offering auto callable accelerated barrier notes linked to the MerQube US Tech+ Vol Advantage Index, a leveraged, volatility-targeting index tied to the Invesco QQQ Trust. The notes can be automatically called as early as March 29, 2027 if the index closes at or above a set call level, paying back principal plus a call premium based on a rate of at least 23.50% per year on a $1,000 denomination.

If not called, holders receive an uncapped leveraged payoff at maturity, with a 3.00x upside participation in index gains. Principal is protected only down to a barrier at 50.00% of the initial index level; if the index finishes below this barrier, losses increase one-for-one with the index decline and can reach 100% of principal.

The index performance is reduced every day by a 6.0% per annum deduction and a notional financing cost, which drag on returns and cause it to lag an equivalent index without these charges. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of the issuer and guarantor, and their estimated value at launch is indicated to be below the $1,000 price due to embedded costs and dealer compensation.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering 7-year non-call 15-month auto callable accelerated barrier notes linked to the MerQube US Tech+ Vol Advantage Index, which references the Invesco QQQ Trust with dynamic leverage up to 500% and a 6.0% per annum daily index deduction plus a notional financing cost. The notes have a $1,000 minimum denomination and an estimated value that will not be less than $900 per $1,000 principal amount.

The notes may be automatically called on scheduled Review Dates from March 29, 2027 through March 21, 2029 if the Index is at or above the Call Value, paying $1,000 plus a call premium based on a Call Premium Rate of at least 23.50%. If not called and the Final Index Value is above the Initial Value, investors receive $1,000 plus three times the Index return. If the Final Value is between 50.00% and 100.00% of the Initial Value, principal is returned; if it falls below the 50.00% Barrier Amount, losses exceed 50.00% and principal can be completely lost. Payments depend on the credit of JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co., and the product carries significant market, leverage, liquidity and tax risks.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Uncapped Digital Barrier Notes tied to the least performing of the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index. The notes are scheduled to price on or about December 29, 2025, settle on or about December 31, 2025, and mature on January 3, 2031.

At maturity, if each index finishes at or above its initial level, investors receive $1,000 plus the greater of a contingent digital return of at least 60.00% or the actual return of the least performing index. If any index is below its initial level but all are at or above 70.00% of initial (the barrier), investors receive only their principal back. If any index ends below its 70.00% barrier, repayment is reduced 1% for every 1% decline in the least performing index, down to a possible total loss.

The notes pay no interest, provide no dividends from the underlying stocks, and are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The preliminary estimated value is approximately $946.50 per $1,000 note and will not be less than $920.00 when terms are set, reflecting embedded selling, structuring and hedging costs and likely lower secondary-market values.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering structured "Review Notes" linked to the least performing of the Dow Jones Industrial Average, the Russell 2000 Index and the S&P 500 Index, maturing in December 2028. Each note has a $1,000 denomination and may be automatically called on scheduled review dates starting in December 2026 if all three indices are at or above their initial levels, paying back $1,000 plus a call premium of at least 7.60%, 15.20% or 22.80% depending on the call date.

If the notes are not called, investors have a 20% downside buffer at maturity and can earn a capped return up to 20% based on the absolute decline of the worst-performing index within that buffer. If any index falls by more than 20%, principal is reduced 1% for each percentage point beyond the buffer, up to an 80% loss. The notes pay no interest or dividends and are unsecured, with an indicative estimated value of about $952.60 per $1,000 note, no lower than $900 when finalized.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable buffered equity notes linked to the TOPIX® Index. Each note has a $1,000 denomination and a term of about two years, with the potential for early redemption after roughly one year.

If, on the Review Date, the TOPIX closing level is at or above the Initial Index Level, the notes are automatically called and pay $1,000 plus a call premium of at least 12.81%. If not called and the Ending Index Level is at or above the Initial Index Level, investors receive $1,000 plus the greater of the actual Index Return or a Contingent Minimum Return of at least 25.62%, giving minimum repayment of $1,256.20 per $1,000 note under those conditions.

If the Ending Index Level is below the Initial Index Level but not by more than the 10.00% buffer, investors receive full principal back at maturity. Below that buffer, principal is lost at a Downside Leverage Factor of 1.11111 for each additional 1% decline, so substantial losses are possible. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of both issuers, and are expected to have an estimated value around $976.10 per $1,000 at pricing, not less than $960.00.

JPMorgan Chase Financial Company LLC is offering callable contingent interest notes linked to the worst performer of the Dow Jones Industrial Average®, the Nasdaq-100 Index® and the Russell 2000® Index, maturing on June 24, 2027. The notes pay a monthly Contingent Interest Payment only if the closing level of each index on a Review Date is at or above 70.00% of its Initial Value, and they are callable at the issuer’s option on specified Interest Payment Dates starting March 24, 2026.

If the notes are not redeemed early and any index finishes below its 70.00% Trigger Value at maturity, investors lose 1% of principal for every 1% decline of the Least Performing Index and can lose their entire investment. A hypothetical Contingent Interest Rate of 10.40% per annum would produce up to $156.0000 in total interest per $1,000 note if all 18 payments are made. The estimated value is expected to be below the $1,000 price, with an example of $979.30 and a minimum of $900.00 per $1,000 note, reflecting selling costs and hedging.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto-callable “Review Notes” linked to the MerQube US Tech+ Vol Advantage Index, maturing on December 24, 2030. The notes may be called as early as December 24, 2026 if the Index closes at or above the Call Value, paying $1,000 plus a call premium that starts at 18.20% of principal and can reach at least 91.00% by the final Review Date.

The structure includes a 15.00% downside buffer, but investors can lose up to 85.00% of principal at maturity if the Index falls beyond that buffer and the notes are not called. The Index embeds a 6.0% per annum daily deduction and a daily notional financing cost on its QQQ Fund exposure, which drag on performance and cause it to trail a similar index without such charges. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and had an indicative estimated value of about $904.80 per $1,000 note on the trade-date assumption.

JPMorgan Chase Financial Company LLC is offering $1,274,000 of auto callable contingent interest notes linked to the common stock of Freeport-McMoRan Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a quarterly contingent coupon of $35.00 per $1,000 principal (a 14.00% per annum rate) for any Review Date on which the Freeport-McMoRan share price is at or above 60.00% of the Initial Value of $44.80, an Interest Barrier of $26.88.

The notes may be automatically called as early as June 9, 2026 if the stock closes at or above the Initial Value on a non-initial, non-final Review Date, returning $1,000 plus the applicable coupon per note. If not called and the final stock price is below the 60.00% Trigger Value, principal is reduced one-for-one with the stock loss, and investors can lose more than 40% or even all of their investment. The estimated value is $970.70 per $1,000 note, below the $1,000 issue price, and the notes are unsecured, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., with no listing or dividend rights on the underlying stock.

JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated Uncapped Digital Barrier Notes linked to the lesser performance of the S&P 500 Index and the Russell 2000 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes offer uncapped upside at maturity based on the weaker index, with a contingent digital return of at least 45.50% if both final index levels are at or above their initial values, and return of principal if either index is below its initial level but both stay at or above 75% barrier levels. If either index ends below its barrier, repayment is reduced one-for-one with the decline in the lesser-performing index, so investors can lose more than 25% and up to all principal. The preliminary estimated value is $976.70 per $1,000 note, and the final estimated value will not be less than $950 per $1,000. The notes pay no interest, provide no index dividends, will not be listed, and are intended for buy-and-hold investors able to accept issuer, guarantor and market risks through the January 4, 2030 maturity.

JPMorgan Chase & Co. is offering callable fixed rate notes due June 23, 2034. The notes pay interest at a fixed rate of 4.55% per annum, with payments made in arrears each year on December 23 from 2026 through 2033 and on the maturity date. At maturity, if the notes have not been called and are still outstanding, investors receive the principal amount plus any accrued and unpaid interest.

Starting December 23, 2027, and then on the 23rd of March, June, September and December through March 23, 2034, the issuer may redeem all, but not part, of the notes at par plus accrued interest. The price to the public is generally $1,000 per $1,000 principal amount, and for certain institutional or fee-based accounts may range from $980.10 to $1,000, with selling commissions generally around $17 and capped at $35 per $1,000. The notes carry significant risk, including that in a resolution scenario unsecured noteholders could face losses after priority and secured creditors are paid.

JPMorgan Chase Financial Company LLC is offering floating rate notes due December 17, 2032, fully and unconditionally guaranteed by JPMorgan Chase & Co. At maturity, investors receive the principal plus any accrued and unpaid interest.

Interest is paid quarterly in arrears each March, June, September and December, beginning March 19, 2026. For each interest period, the rate equals a Benchmark Rate based on Compounded SOFR for the relevant observation period plus a spread of 0.55% per year, with a minimum interest rate of 1.00% per year, calculated on a 30/360 day-count basis.

The notes use detailed benchmark transition provisions so a Benchmark Replacement can be applied if SOFR or the then-current Benchmark Rate becomes unavailable. Key risks highlighted include limited market precedent for Compounded SOFR structures, potential volatility in SOFR, uncertainty of future interest amounts until shortly before each payment date, possible benchmark transition impacts, conflicts of interest because an affiliate acts as calculation agent, and limited suitability as short-term trading instruments.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the Dow Jones Industrial Average, the Russell 2000 Index and the S&P 500 Index, maturing on December 20, 2028. The notes pay a quarterly contingent interest of at least 7.90% per annum (at least $19.75 per $1,000) only if on a Review Date the closing level of each index is at or above 70% of its Initial Value.

The notes may be automatically called starting December 15, 2026 if, on certain Review Dates, each index is at or above its Initial Value, returning $1,000 plus the applicable interest, with no further payments. If held to maturity and any index finishes below 60% of its Initial Value, investors lose 1% of principal for each 1% decline in the least performing index and can lose their entire investment.

The notes are unsecured, unsubordinated obligations, not bank deposits and not FDIC insured. An example estimated value is $972.60 per $1,000 principal amount, and the issuer states the final estimated value will not be less than $940.00 per $1,000, reflecting selling commissions, hedging costs and issuer funding assumptions.

JPMorgan Chase & Co. is offering callable fixed rate notes due December 23, 2037. The notes pay a fixed interest rate of 5.00% per annum, with interest paid annually in arrears on December 23 of each year, starting December 23, 2026, based on a 30/360 day count convention. Each note has a $1,000 principal amount, and at maturity investors receive their principal plus any accrued and unpaid interest if the notes have not been called.

Beginning December 23, 2030 and on each June 23 and December 23 thereafter through June 23, 2037, JPMorgan may redeem the notes in whole at par plus accrued interest, on at least five business days’ notice. The notes are unsecured obligations of JPMorgan Chase & Co., rank behind creditors of its subsidiaries, and are not bank deposits or FDIC insured. A single‑point‑of‑entry resolution strategy under U.S. law could result in losses for noteholders in a bankruptcy or Title II resolution scenario.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering 5-year, auto-callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index (MQUSTVA), with a minimum denomination of $1,000 per note. The notes target quarterly contingent interest of at least 10.55% per annum (2.6375% per quarter) if, on a review date, the index is at or above a specified interest barrier.

The notes can be automatically called after the first year if, on a review date (other than the first three and final), the index is at or above its initial value, in which case investors receive principal plus the applicable interest and no further payments. If the notes are not called and the final index value is below the trigger value (50% of the initial value), repayment of principal is reduced 1% for every 1% decline from the initial value, and investors can lose most or all of their investment. The index embeds a 6.0% per annum daily fee and a notional financing cost, and all payments are subject to the credit risk of the issuer and guarantor.

JPMorgan Chase Financial Company LLC is offering 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 can be automatically called as early as January 4, 2027 if the closing level of each index is at or above its Call Value, paying back principal plus a fixed Call Premium Amount. If the notes are never called and, at maturity in 2030, the lesser performing index stays at or above its Barrier Amount, investors receive only their $1,000 principal per note. If the lesser performing index finishes below its Barrier Amount, repayment is reduced 1% for every 1% index decline, which can result in losing most or all principal. The notes pay no interest or dividends; a preliminary estimated value is $968.50 per $1,000 note and will not be less than $940.00 when finalized.

JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated "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 run to January 4, 2030, with the earliest automatic call on January 4, 2027.

The notes pay no interest or dividends. On any Review Date, if the closing level of each index is at or above its Call Value, the notes are automatically called and pay back principal plus a fixed Call Premium that increases over time, with minimum Call Premium Amounts of $97.50, $195.00, $292.50 and $390.00 per $1,000 at successive Review Dates. Being called on the final Review Date would pay at least $1,390 per $1,000.

If never called, principal repayment at maturity depends on the lesser performing index and can result in significant or total loss of principal. The minimum denomination is $1,000. If priced today, the estimated value would be about $948.50 per $1,000, and will not be less than $920.00 when finalized. The notes are not listed, involve liquidity and valuation risks, and are subject to complex U.S. tax treatment.

JPMorgan Chase Financial Company LLC plans to issue Capped Buffered Return Enhanced Notes linked to the S&P 500® Index, maturing on June 11, 2027. Each $1,000 note offers 1.20x upside exposure to index gains, capped at a maximum return of at least 15.35% at maturity, and includes a 15% downside buffer.

If the index finishes down more than 15%, investors lose 1% of principal for each 1% decline beyond that level, for a maximum loss of 85% of principal. The notes pay no interest, provide no dividends, are unsecured and unsubordinated, and are fully and unconditionally guaranteed by JPMorgan Chase & Co., exposing holders to the credit risk of both entities.

The notes will not be listed on an exchange, so liquidity may depend on J.P. Morgan Securities LLC making a market. If priced on the date illustrated, the estimated value would be about $990.10 per $1,000 note and will not be less than $960.00 when finalized, reflecting structuring and hedging costs.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering callable fixed rate notes that pay interest at 4.00% per annum. The notes are scheduled to mature on December 22, 2028, when holders are expected to receive their principal back plus any accrued and unpaid interest, if the notes have not been called earlier.

The issuer may redeem the notes early, in whole but not in part, on the 22nd day of March, June, September and December of each year from December 22, 2026 through September 22, 2028, paying principal plus accrued interest. Interest is paid annually in arrears on December 22 of each year, starting in 2026, using a 30/360 day count convention. The notes are unsecured obligations, are not bank deposits and are not insured by the FDIC or any government agency, and involve risks described in the referenced risk factor sections.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the least performing of Advanced Micro Devices, Alphabet Class C and Tesla, maturing in December 2028 and fully guaranteed by JPMorgan Chase & Co. Investors may receive a monthly Contingent Interest Payment for each Review Date on which the price of every reference stock is at least 60% of its Initial Value, with unpaid interest amounts accruing if later conditions are met. The notes can be automatically called as early as December 18, 2026 if each stock closes at or above its Initial Value, returning principal plus the applicable interest for that date.

If the notes are not called and any stock finishes below its 60% Trigger Value at maturity, principal is reduced 1% for each 1% decline in the least performing stock, creating a risk of large or total loss. The illustrative Contingent Interest Rate is 22.00% per annum, and the indicative estimated value is about $960 per $1,000 note, not less than $930, reflecting structuring and hedging costs. The notes are unsecured, will not be listed, pay no dividends from the stocks and involve significant liquidity, market and tax risks.

JPMorgan Chase Financial Company LLC is offering capped dual directional buffered equity notes linked to the lesser performer of the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes target a Maximum Upside Return of at least 17.20% and provide a positive return equal to the absolute value of any index decline up to a 10.00% Buffer Amount. Beyond this buffer, investors lose 1% of principal for each additional 1% decline in the lesser performing index, with up to 90.00% of principal at risk at maturity.

The notes pay no interest, do not provide dividends, are unsecured obligations and will not be listed on an exchange, so liquidity will depend on J.P. Morgan Securities LLC making a market. If priced on the date illustrated, the estimated value would be approximately $971.60 per $1,000 note, and the final estimated value disclosed at pricing will not be less than $900.00 per $1,000. The structure suits investors seeking defined exposure to small- and large-cap U.S. equities with limited upside and significant downside risk tied to issuer and guarantor credit quality.

JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated Uncapped Digital Barrier Notes linked to the worst performer of the S&P 500 Index, Russell 2000 Index and Dow Jones Industrial Average, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price around December 19, 2025 and mature on December 22, 2028.

At maturity, if the least performing index is at or above 70% of its initial level, investors receive their $1,000 principal plus the greater of a contingent digital return of at least 21.10% or the actual percentage gain of the least performing index, providing uncapped upside beyond that level. If any index finishes below 70% of its initial level, principal is reduced 1% for every 1% decline of the least performing index, up to a total loss.

The notes pay no interest, provide no dividends, and are not bank deposits or FDIC insured. They are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., limited liquidity because they will not be listed on an exchange, and an estimated initial value per $1,000 note of about $973.90, not less than $940.00, reflecting structuring and hedging costs.

JPMorgan Chase & Co. is offering callable fixed rate notes due December 22, 2045. The notes pay a fixed interest rate of 5.70% per annum, with interest paid annually on December 23, starting in 2026, and at maturity. At maturity, investors receive their principal back plus any accrued and unpaid interest if the notes have not been redeemed earlier.

JPMorgan may redeem the notes at its option on June 23 and December 23 of each year, from December 23, 2027 through June 23, 2045, at an amount equal to the principal plus accrued interest. The indicative price to the public is $1,000 per $1,000 principal amount, though certain eligible institutional or fee-based accounts may pay between $952.60 and $1,000. Indicative selling commissions are about $5.00 per $1,000 and will not exceed $45.00 per $1,000.

The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits, and are not insured by the FDIC

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the worst performer among AMD, Alphabet (Class C) and Tesla, maturing in December 2028 and fully guaranteed by JPMorgan Chase & Co. Investors may receive monthly contingent interest only if the closing price of each stock on a Review Date is at least 60.00% of its Initial Value, with the rate to be set at not less than 20.00% per annum (about 1.66667% per month).

The notes may be automatically called starting in December 2026 if each stock is at or above its Initial Value on a relevant Review Date, in which case investors receive principal plus the applicable interest, but no further payments. If the notes are not called and the worst-performing stock finishes below its Trigger Value (also 60.00% of Initial Value), principal is reduced 1-for-1 with that decline, potentially to zero.

The notes are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., offer no dividend rights in the underlying stocks, may have limited liquidity and feature an estimated value of about $930 per $1,000 note at launch, not less than $900, reflecting embedded fees, hedging costs and dealer compensation.

JPMorgan Chase Financial Company LLC plans to issue Uncapped Dual Directional Buffered Return Enhanced Notes linked to the least performing of the Dow Jones Industrial Average, the S&P 500 Equal Weight Index and the Energy Select Sector SPDR Fund, maturing on January 22, 2027 and guaranteed by JPMorgan Chase & Co. The notes offer at least 1.30x upside participation if all three underlyings finish above their initial values, and a positive, uncapped return when the least performer rises. If the least performing underlying is flat or down by up to 15%, investors receive a gain equal to the absolute decline, capped at a 15% return. If any underlying falls by more than 15%, investors lose 1% of principal for each percentage point beyond the 15% buffer, with up to 85% principal loss. The notes pay no interest or dividends, are unsecured, will not be listed on an exchange, and their value is subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. An indicative estimated value is about $989.10 per $1,000 note, and will not be less than $900.00 per $1,000 at pricing.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Uncapped Digital Barrier Notes linked to the least performing of the Dow Jones Industrial Average, the Russell 2000 Index and the S&P 500 Index, maturing on January 7, 2030. The notes provide uncapped, unleveraged exposure to any gain in the worst-performing index at maturity, with a contingent digital return of at least 47.60% if all three indices finish at or above their initial levels.

If any index finishes below its initial level but all remain at or above 75% of their initial values, investors receive only their principal back. If any index closes below 75% of its initial value, repayment is reduced 1% for each 1% decline in the least performing index, and all principal can be lost. 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 listed, so liquidity may be limited. If priced today, the estimated value would be about $960.20 per $1,000 note, and the final estimated value will not be less than $930.00.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the lesser performing of the Russell 2000 Index and the EURO STOXX 50 Index, maturing in December 2029. Investors receive a Contingent Interest Payment on each Review Date only if both indices close at or above 70% of their Initial Values; otherwise no interest is paid for that period. The notes may be automatically called as early as December 2026 if both indices are at or above their Initial Values, returning principal plus the applicable contingent interest.

The notes expose investors to potential loss of more than 30% and up to all of their principal if, at maturity, the lesser performing index finishes below its Trigger Value of 70% of its Initial Value. A hypothetical Contingent Interest Rate of 8.00% per annum (2.00% per quarter) is used in payout examples, and the estimated value is indicated at about $950, not less than $930, per $1,000 note, reflecting embedded costs and hedging. The notes are unsecured, not FDIC insured, will not be listed on an exchange and carry complex tax and liquidity risks.

JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., is offering capped digital notes linked to the Russell 2000, S&P 500 and Nasdaq-100, maturing on June 21, 2027.

The notes pay no periodic interest but are designed to return full principal at maturity, subject to the credit risks of the issuer and guarantor. If on the June 15, 2027 observation date the final level of each index is at or above its initial level, holders receive a fixed return of at least 9.15%, for a total of $1,091.50 per $1,000 note at maturity; otherwise they receive only the $1,000 principal.

The notes are unsecured, will not be listed on any securities exchange, and are issued in minimum denominations of $1,000. A preliminary estimated value is about $984.30 per $1,000 note today, and will not be less than $950.00 per $1,000 when terms are set, reflecting selling commissions, hedging costs and internal funding rates, so secondary market prices are expected to be below the original issue price.

JPMorgan Chase Financial Company LLC is offering $3,000,000 of capped bearish notes linked to the ARK Next Generation Internet ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are unsecured, pay no interest and are issued in $1,000 minimum denominations.

At maturity on March 10, 2027, holders receive $1,000 plus a bearish return if the fund has fallen, equal to 100% of its decline, capped at an additional $300 per $1,000 note for a maximum 30% gain. If the fund is unchanged, investors receive only their principal, and if it has risen they lose 1% of principal for each 1% increase, up to a maximum loss of 15%, so repayment will be at least $850 per $1,000 note.

The initial fund value on the pricing date was $155.82. The price to public is $1,000 per note, including $6 in selling commissions, while the estimated value at pricing was $981.10, reflecting selling, structuring and hedging costs and the issuer's internal funding rate. Key risks include issuer and guarantor credit risk, no dividends or listing, and exposure to the actively managed, volatile ARK Next Generation Internet ETF and its focus on disruptive innovation, smaller-cap and non-U.S. stocks.

JPMorgan Chase Financial Company LLC is offering callable contingent interest notes linked to the lesser performance of the Russell 2000® Index and the S&P 500® Index, due December 27, 2030. The notes pay a contingent monthly coupon at a rate of at least 6.50% per annum (0.54167% per month) only when the closing level of each index on a review date is at least 75% of its initial value.

At maturity, if not called and each index is at or above 85% of its initial value, investors receive full principal plus the final contingent coupon; otherwise principal is reduced 1% for each 1% decline of the lesser-performing index beyond the 15% buffer, for a loss of up to 85%. The price to public is $1,000 per note, while the estimated value is about $941.80 today and will not be less than $900 per $1,000 at pricing. The notes are unsecured obligations of JPMorgan Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., and will not be listed, so liquidity may be limited.

JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., is issuing $827,000 of capped buffered equity notes linked to the S&P 500 Index, scheduled to mature on December 8, 2028.

The notes offer 1.00x participation in any index appreciation at maturity, up to a maximum return of 33.00%, for a maximum payment of $1,330.00 per $1,000 principal amount note. A 20.00% buffer protects principal against moderate declines, but if the index falls by more than 20.00%, investors lose 1% of principal for each additional 1% drop, with losses up to 80.00% of principal possible.

The notes pay no interest, provide no dividends from index constituents, and are unsecured, unsubordinated obligations subject to the credit risk of both the issuer and guarantor. They will not be listed on any exchange. The price to public is $1,000 per note, including $9.50 in selling commissions, while the estimated value at pricing was $981.50, reflecting selling, structuring and hedging costs.

JPMorgan Chase Financial Company LLC is offering callable contingent interest notes due November 22, 2027, linked to the worst performer among the S&P 500 Index, Nasdaq-100 Index and VanEck Semiconductor ETF. The notes pay monthly contingent interest of at least 0.8875% (at least 10.65% per year) for each review date when every underlying closes at or above 70% of its initial value.

The issuer can redeem the notes early on specified interest payment dates starting June 23, 2026, returning $1,000 per note plus any due interest. Principal is at risk: if at maturity any underlying finishes below 60% of its initial value, repayment is reduced in line with the decline of the worst performer, and all principal can be lost. The notes are unsecured obligations of JPMorgan Chase Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., with an estimated value of about $958.50 per $1,000 note on the pricing date and not less than $900.00.

JPMorgan Chase Financial Company LLC is offering auto callable buffered equity notes linked to the common stock of Broadcom Inc., in an aggregate amount of $10,539,000, at $1,000 per note. The notes are unsecured obligations of JPMorgan Chase Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes may be automatically called on December 18, 2026 if Broadcom’s share price is greater than or equal to the initial price of $390.24, paying $1,000 plus a 25.80% call premium per note. If not called and held to the December 9, 2027 maturity, holders receive the greater of Broadcom’s price gain and a 51.60% Contingent Minimum Return if the final price is at or above the initial price, full principal back if it is down by up to 25.00%, and losses of 1.33333% of principal for each 1% decline beyond that buffer.

The notes pay no interest or dividends, are not bank deposits or FDIC insured, and are subject to the credit risk of JPMorgan Chase Financial and JPMorgan Chase & Co. The estimated value at pricing was $972.90 per $1,000 note, below the $1,000 price to the public.

JPMorgan Chase Financial Company LLC is offering $2,237,000 of Callable Contingent Interest Notes due November 10, 2027, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a monthly contingent coupon of $7.9583 per $1,000 (a 9.55% per annum rate) only if on each Review Date the Nasdaq-100® Technology Sector IndexSM, the Russell 2000® Index and the S&P 500® Index are each at or above 75% of their Initial Values. If any index is below this Interest Barrier on a Review Date, no interest is paid for that month.

JPMorgan may redeem the notes early, in whole, on any Interest Payment Date starting March 10, 2026 (except the first, second and final dates), paying $1,000 plus any due contingent interest. If the notes are not redeemed early and, at maturity, each index is at or above 70% of its Initial Value, investors receive $1,000 per note plus any final contingent interest. If any index finishes below 70%, repayment is reduced in line with the Least Performing Index, and investors can lose more than 30% and up to all of their principal. The estimated value at pricing was $960.60 per $1,000, lower than the $1,000 issue price, reflecting selling commissions, structuring and hedging costs, and the issuer’s internal funding rate.

JPMorgan Chase Financial Company LLC is offering Auto Callable Buffered Equity Notes linked to the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called on December 28, 2026 if the index is at or above its initial level, paying $1,000 plus a call premium of at least 8.65% per note on the call settlement date.

If not called and the index is at or above its initial level on the December 13, 2027 valuation date, holders receive uncapped upside to index gains, subject to a contingent minimum return of at least 17.30% (for example, $1,173 per $1,000 note). A 15.00% downside buffer protects against moderate declines; below that, principal is reduced by 1.17647% for each additional 1% index drop, so some or all principal can be lost.

The notes pay no interest or dividends, are unsecured and unsubordinated, will not be listed on an exchange, and are subject to the credit risk of both the issuer and guarantor. If the notes priced on the indicated date, the estimated value would be about $978.70 per $1,000, and the final estimated value will not be less than $960.00 per $1,000. Separately, J.P. Morgan has committed aggregate donations of $700,000 to Blue Star Families, which are not contingent on note sales and do not affect the note terms.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the common stock of Amazon.com, Inc. The notes pay a contingent coupon of at least $40.75 per $1,000 principal on each Review Date if Amazon’s share price is at or above 85% of its Initial Stock Price, with missed coupons potentially paid later if the condition is met on a future Review Date.

The notes can be automatically called as early as April 10, 2026 if Amazon’s share price is at or above its Initial Stock Price, returning $1,000 plus the applicable coupon and any unpaid coupons. If the notes are not called and Amazon’s Final Stock Price is below 85% of the Initial Stock Price, investors lose 1.17647% of principal for every 1% decline beyond the 15% buffer, which can result in a substantial or total loss of principal. The illustrative estimated value is about $979.60 per $1,000 note and will not be less than $960.00 when finalized.

JPMorgan Chase Financial Company LLC is offering $8,490,000 of capped buffered enhanced participation basket-linked notes due 2027, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes pay no interest and repay at maturity based on an unequally weighted basket of five equity indexes: EURO STOXX 50 (38%), TOPIX (26%), FTSE 100 (17%), Swiss Market Index (11%) and S&P/ASX 200 (8%). Investors receive 1.5x any basket gain, capped at a maximum payment of $1,135.75 per $1,000 note, and are protected against up to a 10% basket decline; beyond that, losses increase at roughly 1.1111x and can reach 100% of principal.

The notes are unsecured obligations subject to the credit risk of the issuer and guarantor, are not listed or redeemable, and had an estimated value at pricing of $983.60 per $1,000, below the 100% issue price due to selling commissions and hedging and issuance costs.

JPMorgan Chase Financial Company LLC is offering $3,960,000 of Buffered Digital Notes linked to the lesser performing of the S&P 500 Index and the Nasdaq-100 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on January 8, 2027 and are issued in $1,000 minimum denominations.

If on the January 5, 2027 observation date the final level of each index is at least 85% of its initial level, holders receive a fixed 8.70% return at maturity, or $1,087 per $1,000 note. A 20% downside buffer applies if either index falls but not by more than 20% from its initial level, in which case principal is repaid.

If either index declines by more than 20%, repayment is reduced 1% for each 1% loss beyond the buffer, up to a maximum 80% loss of principal. The notes pay no periodic interest, provide no dividends from index constituents, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not be listed on a securities exchange.

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 size of $2,548,000 and maturity on December 9, 2027.

The notes pay a contingent interest rate of 11% per year, or $27.50 per $1,000 each quarter, but only on Review Dates when Ford’s closing price is at least 61% of the Initial Value, set at $13.03 per share. Missed coupons can be paid later if the barrier is met on a subsequent Review Date. The notes are automatically called, starting June 5, 2026, if Ford’s price on a Review Date (other than the first and final) is at or above the Initial Value, returning $1,000 plus due and unpaid interest.

If the notes are not called and Ford’s final price is at or above the 61% Trigger Value, investors receive principal plus the applicable contingent interest and any unpaid coupons. If the final price is below the Trigger Value, repayment is reduced one-for-one with Ford’s decline, and investors can lose more than 39% and up to all of their principal. The notes are unsecured, not listed, have an estimated value of $967.20 per $1,000 at pricing, and involve credit, market, liquidity and tax risks.

JPMorgan Chase Financial Company LLC is offering $1,622,000 of 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 10, 2029 and fully and unconditionally guaranteed by JPMorgan Chase & Co.

At maturity, if both ETFs finish above their initial prices, investors receive their $1,000 principal per note plus 1.27 times the gain of the lesser performing ETF. If either ETF is at or below its initial price but both stay at or above 70% of their initial levels, only principal is returned. If either falls below this 70% barrier, repayment is reduced one-for-one with the decline of the lesser performer, and investors can lose most or all of their principal.

The notes pay no interest, provide no dividends from the ETFs and are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. The price to public is $1,000 per note, with proceeds to the issuer of $994 and an estimated value of $979.80, and the notes will not be listed on any securities exchange, which may limit liquidity and result in secondary prices below the issue price.

JPMorgan Chase Financial Company LLC is offering auto-callable structured review notes linked to the worst performer of the Russell 2000 Index, the Nasdaq-100 Technology Sector Index and the Utilities Select Sector SPDR Fund, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes mature on December 24, 2030 and can be automatically called as early as December 23, 2026 if each underlying is at or above 100% of its initial value. On a call date, holders receive $1,000 per note plus a call premium that starts at at least 13% of principal and steps up over time to at least 65% on the final review date.

If the notes are not called, principal is repaid at maturity only if every underlying stays at or above 70% of its initial value; otherwise repayment is reduced one-for-one with the decline of the worst performer, and all principal can be lost. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan entities, and the estimated initial value is indicated at about $948.10 per $1,000, and will not be less than $900.00.