Alerian MLP Index ETN SEC Filings

JPMorgan is offering auto-callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index. The notes have a 3-year term with quarterly review dates and can be called early if the index closes at or above its initial level, in which case investors receive principal plus the applicable contingent interest and the notes terminate.

The notes pay a contingent interest rate of at least 12.50% per annum, or at least 3.125% per quarter, but only when the index is at or above 60% of its initial value on a review date. The index embeds a 6.0% per annum daily deduction and may use leverage of up to 500% in E-Mini S&P 500 futures.

If the notes are not called and the final index value is below 60% of the initial value, repayment of principal is reduced one-for-one with the index loss, and investors can lose all of their investment. Payments depend on the credit of JPMorgan Chase Financial Company LLC and its guarantor, JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the Class B common stock of NIKE, Inc., maturing on December 1, 2027. The notes pay a quarterly Contingent Interest Payment of at least $38.75 per $1,000 (at least 15.50% per annum) only if, on a Review Date, NIKE’s share price is at or above the Interest Barrier of 65.00% of the Strike Value, which is $41.8145.

The notes are automatically called, starting as early as February 26, 2026, if NIKE’s share price on a Review Date (other than the final one) is at or above the Strike Value of $64.33, returning $1,000 plus the applicable contingent interest, and ending further payments. If the notes are not called and NIKE’s final share price is at or above the Trigger Value (also 65.00% of the Strike Value), investors receive $1,000 plus the final contingent interest. If the final price is below the Trigger Value, repayment is reduced one-for-one with NIKE’s decline, and investors can lose more than 35% and up to all of their principal.

The notes are unsecured, not FDIC insured, and subject to JPMorgan Financial’s and JPMorgan Chase & Co.’s credit risk. If priced today, the estimated value would be about $975 per $1,000 note and will not be less than $950 per $1,000 at pricing.

JPMorgan Chase & Co. is offering callable fixed rate notes maturing on March 11, 2030. The notes pay fixed interest at an annual rate of 4.00%, with interest paid in arrears each December 11 from 2026 through 2029 and at maturity, calculated on a 30/360 day count basis. Investors receive their principal back at maturity plus any accrued interest if the notes have not been redeemed earlier.

Beginning December 11, 2027 and on the 11th calendar day of March, June, September and December through December 11, 2029, JPMorgan may redeem the notes in whole at par plus accrued interest. The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits and are not insured by the FDIC or any governmental agency. The pricing supplement highlights resolution and bankruptcy considerations for unsecured creditors, potential conflicts of interest in distribution, secondary market and liquidity risks, and confirms that the notes are expected to be treated as fixed-rate debt for U.S. federal income tax purposes.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering 3-year non-call 6-month auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index (MQUSTVA). The index references an unfunded total-return position in the Invesco QQQ Trust, less a daily notional financing cost, and itself deducts 6.0% per year on a daily basis.

The notes may pay contingent interest at a rate of at least 12.50% per annum, paid quarterly at a rate of at least 3.125% per quarter, but only if on a review date the index level is at or above an interest barrier set at 60% of the initial value. If on any review date other than the first and final the index is at or above its initial value, the notes are automatically called at $1,000 plus the applicable contingent interest.

If the notes are not called and, on the final review date, the index is at or above the 60% trigger value, investors receive $1,000 plus the final contingent interest. If the final index value is below the trigger, repayment is reduced 1% for each 1% decline from the initial value, leading to losses greater than 40% of principal and potentially a total loss. The issuer’s estimated value will be at least $900 per $1,000 note, and all payments depend on the credit risk of both issuing and guaranteeing entities.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering 5-year auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index. The Index uses leveraged E-Mini S&P 500 futures exposure with a maximum 500% allocation and includes a 6.0% per annum daily deduction.

The notes have a minimum denomination of $1,000, a pricing date of December 18, 2025, final review date of December 18, 2030 and maturity on December 23, 2030. They pay a contingent interest rate of at least 11.00% per year, or at least 2.75% per quarter, only if on a review date the Index is at or above 60.00% of its initial value. The notes are automatically called if, on any review date other than the first and final, the Index is at or above its initial level.

If not called, and the final Index value is at or above 60.00% of the initial value, investors receive principal plus the final contingent interest. If the final value is below that level, repayment is reduced 1% for each 1% Index decline from the initial value, and investors can lose all principal. The estimated value will not be less than $900 per $1,000 note, and payments are subject to the credit risk of the issuer and guarantor.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Uncapped Dual Directional Accelerated Barrier Notes linked to the Nasdaq-100 Technology Sector Index, the S&P 500 Index and the Russell 2000 Index, maturing on December 24, 2030. The notes aim to pay at maturity at least 1.62 times any positive return of the worst-performing index. If any index is at or below its initial level but all three stay at or above 70% of their initial levels, investors receive a positive return equal to the absolute decline of the worst index, capped at 30%, for a maximum payment of $1,300 per $1,000 note in that scenario.

If any index finishes below 70% of its initial level, the principal is exposed one-for-one to the loss of the worst index, and investors can lose most or all of their investment. The notes pay no interest, provide no dividends, are unsecured and unsubordinated, and depend on the credit of both JPMorgan Financial and JPMorgan Chase & Co. An indicative estimated value is about $966.50 per $1,000 note, reflecting selling commissions, hedging costs and issuer funding assumptions.

JPMorgan Chase Financial Company LLC plans to issue structured notes linked to the lesser performing of the EURO STOXX 50 Index and the iShares MSCI EAFE ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price around December 18, 2025 and mature on June 23, 2028, in minimum denominations of $1,000.

At maturity, if both underlyings finish above their initial values, investors receive $1,000 plus an additional amount based on the weaker performer and a participation rate of at least 100%. If either underlying ends below its initial value, repayment is reduced in line with the decline of the lesser performer, but not below $950 per $1,000 note. The notes pay no interest or dividends and expose holders to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

If the notes priced today, the estimated value would be about $963.80 per $1,000, and when finally set it will not be less than $900, reflecting selling commissions, hedging costs and issuer funding considerations.

JPMorgan Chase & Co. is offering callable fixed to floating rate notes due December 22, 2045. Investors receive an initial fixed interest rate of 11.00% per annum through December 23, 2027, paid quarterly, after which the rate resets each period to 1.25 × (7.00% − the Benchmark Rate), with a minimum of 0.00% per annum and the Benchmark Rate initially based on Compounded SOFR.

The notes are callable at the issuer’s option quarterly, starting December 23, 2027, at par plus accrued interest, so investors face reinvestment and call risk if rates fall. The notes are unsecured obligations of JPMorgan Chase & Co. and would rank behind claims of its subsidiaries in a resolution scenario described under U.S. “single point of entry” and Title II strategies.

The pricing supplement highlights risks from SOFR volatility, benchmark transition mechanics that can change the reference rate, limited secondary market liquidity and the possibility of 0% interest in later years. For U.S. tax purposes, JPMorgan currently intends to treat the notes as contingent payment debt instruments, requiring investors to accrue original issue discount based on a comparable yield, which may cause taxable income to differ significantly from cash interest received.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering six series of Capped Buffered Return Enhanced Notes linked separately to the EURO STOXX 50®, Nasdaq‑100, Russell 2000®, S&P 500®, iShares® MSCI EAFE ETF and iShares® MSCI Emerging Markets ETF, maturing on December 23, 2027.

The notes provide 2.00x leveraged upside on any positive performance of the relevant underlying, but gains are capped by a maximum return that varies by series (for example, indicative caps of about 18.75%–32.50%, depending on the underlying). A 10% downside buffer protects principal against modest declines; below that level, investors lose 1% of principal for each additional 1% drop, up to a loss of 90% of principal at maturity.

The notes pay no interest or dividends, are unsecured and unsubordinated obligations of the issuer, and will not be listed on any exchange, so liquidity will rely on dealer trading. If priced on the indicative date, estimated values are shown around the mid‑$970s per $1,000, and the final estimated value will not be less than $900. Key risks include issuer and guarantor credit risk, market and underlying‑specific volatility, pricing and valuation frictions, limited liquidity, and complex U.S. tax treatment.