JPMorgan Chase Financial Company LLC is offering callable contingent interest notes due June 28, 2028, linked to the lesser performer of the Nasdaq-100 Index® and the State Street® Energy Select Sector SPDR® ETF, in minimum denominations of $1,000, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a Contingent Interest Payment on each monthly Review Date only if the closing value of each underlying is at least 70.00% of its Initial Value (the Interest Barrier). The Contingent Interest Rate will be at least 10.90% per annum, or 0.90833% per month. If this condition is not met, no interest is paid for that period. The issuer may redeem the notes early, in whole, on specified Interest Payment Dates beginning October 28, 2026, paying $1,000 per note plus any due contingent interest.
If the notes are not redeemed and, on the final Review Date, the Final Value of either underlying is below its 70.00% Trigger Value, principal is reduced 1% for each 1% decline in the lesser performing underlying, potentially to zero. Investors forgo dividends, have no upside participation, face credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and limited liquidity because the notes will not be listed. The estimated value is about $960.70 per $1,000 note if priced today and will not be less than $900.00 per $1,000 at pricing, reflecting selling commissions, hedging costs and the issuer’s internal funding rate.
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. Each note has a $1,000 denomination and is expected to settle on or about July 28, 2026 and mature on July 28, 2032, with the earliest potential automatic call on July 23, 2027.
Investors receive a monthly Contingent Interest Payment only if the Index closing level on an Interest Review Date is at least 70% of the Initial Value (the Interest Barrier). The notes are automatically called on quarterly Autocall Review Dates if the Index is at or above the Initial Value, returning $1,000 plus the applicable contingent interest, after which no further payments are made.
If the notes are not called and the Final Value is at least 50% of the Initial Value (the Trigger Value), principal is repaid in full and a final contingent interest may be paid if the Index is also at or above the Interest Barrier. If the Final Value is below the Trigger Value, repayment is $1,000 + $1,000 × Index Return, exposing investors to a loss of more than 50% and up to all principal. The Index embeds a 6.0% per annum daily deduction, which drags performance and can cause the Index to decline even when its futures strategy is flat or modestly positive. The provisional estimated value is about $919.70 per $1,000 note and will not be less than $900 at pricing, reflecting selling commissions and hedging costs.
JPMorgan Chase Financial Company LLC is offering structured review notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called on quarterly Review Dates starting July 27, 2027 if the Index closes at or above the Call Value, which equals 100% of the Strike Value of 4,112.61.
On a call, investors receive $1,000 plus a Call Premium Amount that starts at at least 26.00% of principal and steps up to at least 182.00% on the final Review Date. If the notes are never called and the Final Value is at or above the Barrier Amount of 50.00% of the Strike Value, principal is returned at maturity on July 25, 2033. If the Final Value is below the Barrier Amount, repayment is $1,000 plus $1,000 times the Index Return, exposing investors to more than 50% loss and potentially a total loss of principal.
The Index employs a 35% target volatility and can lever E-mini S&P 500 futures exposure up to 500%, but is reduced by a 6.0% per annum daily deduction, which drags performance and is a key factor in the note economics. The minimum denomination is $1,000, with an estimated value of approximately $920 per $1,000 note at launch, and not less than $900, reflecting embedded selling, structuring and hedging costs. Payments are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering structured Review Notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co., under its medium-term note program. Each note has a $1,000 denomination and matures on August 3, 2029, with expected pricing on or about July 31, 2026 and settlement on or about August 5, 2026.
The notes feature an automatic call if, on any Review Date starting August 3, 2027, the Index closing level is at or above 100% of its Initial Value. In that case, investors receive $1,000 plus a Call Premium Amount of at least 27.00%–81.00% of principal depending on the call date, and the notes terminate. If not called and the Final Value is at least 75.00% of the Initial Value, investors receive principal back at maturity; if the Final Value is below 75.00%, repayment is $1,000 plus $1,000 × Index Return, so investors can lose more than 25% and up to all of principal.
The underlying Index dynamically allocates exposure of up to 500% to E-mini S&P 500 futures, targets 35% implied volatility, and is reduced by a 6.0% per annum daily deduction, which drags performance. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and are not bank deposits or FDIC insured. If priced today, the estimated value would be about $920.00 per $1,000 note and will not be less than $900.00 per $1,000 when set, reflecting selling costs and hedging-related factors.
JPMorgan Chase Financial Company LLC is offering $11,461,000 of Trigger Performance Leveraged Upside Securities (“Trigger PLUS”) linked to the EURO STOXX 50® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 stated principal amount, pricing on July 17, 2026 and maturing on August 4, 2032.
The notes pay no interest and expose investors to loss of principal. If the index finishes above the initial level of 6,230.87, holders receive $1,000 plus 192.25% of the index percent increase. If the final index value is at or above the trigger level of 4,673.1525 (75% of the initial level) but at or below the initial level, investors receive only the $1,000 principal. Below the trigger, repayment equals $1,000 times the index performance factor, resulting in losses proportional to the index decline and potentially a total loss.
The issue price is $1,000 per note, including total fees and commissions of $401,135, with proceeds to the issuer of $11,059,865. The estimated value on the pricing date is $947.30 per $1,000 note, reflecting structuring and hedging costs. The notes will not be listed on any securities exchange and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is issuing Trigger PLUS structured notes linked to an unequally weighted basket of five international equity indices, with an aggregate principal amount of $6,238,000. Each note has a $1,000 stated principal amount, no interest and a maturity date of August 6, 2029.
The notes provide leveraged upside of 151.80% of any basket gain above the initial basket value of 100. If the final basket value is at or above the 80% trigger level but at or below the initial value, investors receive principal back. If the final basket value falls below the trigger level, repayment equals the basket performance factor, exposing investors to a proportional loss of principal up to total loss.
The basket weights are 40.00% EURO STOXX 50, 25.00% TOPIX, 17.50% FTSE 100, 10.00% Swiss Market Index and 7.50% S&P/ASX 200. The issue price is $1,000 per note, with an estimated value on the pricing date of $957.20 per $1,000, reflecting selling commissions, structuring fees and hedging costs. Principal repayment and performance payments are subject to the credit risk of JPMorgan Financial as issuer and JPMorgan Chase & Co. as guarantor.
JPMorgan Chase Financial Company LLC is offering Enhanced Jump Securities with Auto-Callable Feature due July 20, 2029, linked to the worst performing of the Russell 2000, S&P 500 and Nasdaq-100 indices, in an aggregate principal amount of $11,455,000. The notes pay no coupons and may be automatically redeemed on eight scheduled determination dates if each index closes at or above its initial level, for early redemption payments rising from $1,105 to $1,288.75 per $1,000. If not called and, at maturity, each index is at or above 70% of its initial level, investors receive a maturity redemption payment of $1,315 per $1,000 (about 10.5% per year). If any index finishes below its 70% downside threshold, the payout equals $1,000 times the worst index’s performance factor and can be substantially below principal, including zero. The securities are unsecured obligations of JPMorgan Chase Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., and any payment is subject to their credit risks; the estimated value at pricing was $950.30 per $1,000.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $4,270,000 of Auto-Callable Trigger PLUS linked to the EURO STOXX 50® Index, due July 22, 2032. Each security has a $1,000 stated principal amount and issue price.
The notes pay no interest and may be automatically redeemed on July 29, 2027 for $1,175.50 per note (117.55% of principal) if the index on the observation date is at or above the initial level of 6,230.87. If not redeemed and at maturity the index is above its initial level, investors receive $1,000 plus 150% of the index’s percentage gain. If the index is between 75% and 100% of the initial level (the 4,673.1525 trigger level) at maturity, principal is returned.
If at maturity the index closes below the trigger level, repayment is $1,000 × (final index value / initial index value), exposing investors to a significant or total loss of principal. The estimated value on the pricing date was $951 per $1,000 note, reflecting selling commissions, structuring fees and hedging costs, and any payment is subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is issuing $833,000 principal amount of unsecured notes linked to the S&P 500® Futures Excess Return Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are priced at $1,000 per note, with dealer selling commissions of $9.50 per $1,000 and proceeds to the issuer of $990.50 per note. The notes priced on July 17, 2026, are expected to settle on or about July 22, 2026, and mature on July 20, 2029, with an observation date of July 17, 2029.
At maturity, investors receive full principal repayment plus an Additional Amount equal to $1,000 × Index Return × a 102.00% participation rate, but not less than zero, so downside exposure is limited to foregone interest and inflation, not nominal principal loss, subject to the credit risks of JPMorgan Financial and JPMorgan Chase & Co. The Initial Index Value is 596.71. The notes pay no periodic interest, are not bank deposits, and will not be listed on any exchange; secondary liquidity will depend on J.P. Morgan Securities LLC.
The estimated value at pricing is $979.40 per $1,000 note, below the issue price due to selling, structuring, and hedging costs. For tax purposes, the notes are expected to be treated as contingent payment debt instruments, with a comparable yield of 4.31% and a projected single payment of $1,136.25 at maturity used to determine annual original issue discount accruals.
JPMorgan Chase Financial Company LLC is offering Uncapped Dual Directional Buffered Return Enhanced Notes due August 3, 2029, linked to the least performing of the Dow Jones Industrial Average®, the Nasdaq-100 Index® and the S&P 500® Index. The notes pay no interest or dividends and are unsecured, unsubordinated obligations of JPMorgan Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., exposing investors to the credit risks of both entities.
At maturity, investors receive $1,000 per note plus an upside return of at least 1.385× any positive performance of the least performing index, or a capped, unleveraged positive return equal to the absolute value of any index decline of up to the 20.00% Buffer Amount. If any index falls by more than 20.00%, principal is reduced 1% for each 1% decline beyond the buffer, up to a maximum loss of 80.00% (minimum payment $200 per $1,000 note). The indicative estimated value is $983.60 per $1,000, and will not be less than $900.00, reflecting embedded selling costs and hedging margins; secondary market prices are expected to be lower than the issue price and liquidity may be limited.