JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $160,000 of unsecured Review Notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing on February 13, 2031. The notes can be automatically called as early as February 10, 2027 if the Index closes at or above 90% of its initial level, paying back $1,000 plus a call premium that starts at 16% and steps up to 80% by the final review date.
The notes do not pay interest or dividends, and investors risk losing more than 30% and up to all principal if the Index finishes below 70% of its initial level at maturity. The Index embeds a 6.0% per annum daily deduction and can use up to 500% leveraged exposure to E-mini S&P 500 futures, which may magnify losses. The price to the public is $1,000 per note, including $42.50 in selling commissions; the issuer’s estimated value is $900 per $1,000, reflecting structuring, hedging costs and internal funding assumptions.
J.P. Morgan provides a February 2026 performance update for its Kronos+ Index, which gives dynamic uninvested, fully invested or 2x leveraged exposure to the S&P 500® Price Index using turn-of-month, options-expiry momentum and month-end mean reversion strategies.
The Index, established on December 22, 2020, is calculated without dividends and includes a daily fee of 0.95% per annum. From January 2016 to January 2026, hypothetical and actual data show a Sharpe Ratio of 0.76, 10-year annualized volatility of 25.64% and 10-year annualized return of 19.59%, based partly on backtested results.
Recent calendar-year returns for the Index include 100.70% in 2020, 42.26% in 2021, -37.08% in 2022, 32.11% in 2023, 10.58% in 2024 and 2.08% in 2025. The materials stress that past and hypothetical backtested performance are not indicative of future results and highlight multiple strategy, fee, rate and methodology risks for investors considering notes linked to the Index.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, fully guaranteed by JPMorgan Chase & Co., and maturing in February 2031. Investors receive contingent monthly interest only when the Index closes at or above 70% of its Initial Value, with missed coupons paid later if conditions are met. The notes may be automatically called starting February 19, 2027 if the Index is at or above its Initial Value on specified review dates, returning principal plus accrued contingent interest. Principal is protected only by a 20% buffer; if the Final Index Value falls more than 20% below the Initial Value, investors lose 1% of principal for each additional 1% decline, up to an 80% loss of principal. The indicative contingent interest rate is at least 8.50% per annum, but payments are not guaranteed. The underlying Index includes a 6.0% per annum daily deduction and a notional financing cost, which drag on performance and cause it to trail an otherwise identical index without these charges. If priced today, the estimated value would be about $911.70 per $1,000 note, and at pricing it will not be less than $900, reflecting structuring and hedging costs.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering Callable Range Accrual Notes linked to the 10-Year CMT Rate and due February 27, 2046. On the maturity date, holders receive principal plus any accrued and unpaid interest.
The notes pay a fixed 10.00% per annum during the initial interest periods through February 27, 2027. After that, monthly interest ranges from 0.00% to 10.00% per annum, based on how many days the 10-Year CMT Rate is at or below 5.00%; if it exceeds 5.00% every day in a period, no interest is paid for that period.
Starting February 27, 2027, the issuer may redeem the notes monthly at 100% of principal plus accrued interest. The estimated value, if the notes priced on the described date, would be about $935.70 per $1,000 note and will not be less than $910.00, reflecting selling commissions, hedging costs and issuer funding assumptions. The notes are unsecured obligations, not bank deposits, and are not insured by the FDIC.
JPMorgan Chase Financial Company LLC is offering callable contingent interest notes linked to the common stock of Chipotle Mexican Grill, Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price on or about February 17, 2026 and mature on February 23, 2028.
Investors may receive quarterly contingent interest at a rate of at least 9.30% per annum (2.325% per quarter) if Chipotle’s share price on each Review Date is at or above 55.00% of the Initial Value. Missed coupons can be paid later if the barrier is met, but interest is not guaranteed.
The issuer may redeem the notes early on specified Interest Payment Dates, starting August 20, 2026. If held to maturity and the final share price is below the 55% trigger, repayment is reduced in line with the stock’s loss, and investors can lose a significant portion or all of their principal.
The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial Company LLC, subject to the credit risk of both the issuer and JPMorgan Chase & Co., and will not pay dividends or provide shareholder rights in Chipotle stock.
J.P. Morgan Tactical Blend Index is described in this Rule 424(b)(3) index supplement, which supports notes linked to the Index under Registration Statement Nos. 333-270004 and 333-270004-01. The document presents hypothetical backtested and actual historical monthly and annual returns through January 31, 2026.
The Index allocates notional exposure among currency, bond and equity Basket Constituents, including the Invesco DB US Dollar Index Bullish Fund, the J.P. Morgan Core Bond Index and the J.P. Morgan U.S. Low Volatility Index. It is calculated on an excess return basis over the US Fed Funds Effective Rate and is subject to a 0.85% per annum daily deduction.
The supplement explains extensive use of hypothetical backtested and alternative “proxy” performance for certain Basket Constituents prior to their launch and sufficient liquidity, and repeatedly warns that historical and backtested performance and allocations are not indicative of future results. It highlights numerous strategy and market risks and notes that the notes are unsecured, not bank deposits, not FDIC insured, and have not been approved or disapproved by the SEC or any state commission.
J.P. Morgan Tactical Blend Index is a rules-based index that dynamically allocates between a low-volatility U.S. equity index and either a core bond index or a U.S. dollar ETF, aiming to maintain targeted volatility. It is calculated on an excess return basis, net of the U.S. Fed Funds Effective Rate, and applies a 0.85% per annum daily deduction.
From January 2016 to January 2026, the Index shows a Sharpe Ratio of 0.75, with 10-year annualized volatility of 3.57% and a 10-year annualized return of 2.67%. The 1-year return over this period is -1.01%. Over the same horizon, a Domestic 30/70 Portfolio (ER) has a Sharpe Ratio of 0.53 and 10-year annualized volatility of 6.32%, while a Global 30/70 Portfolio (ER) has a Sharpe Ratio of 0.34 and 10-year annualized volatility of 6.17%.
Recent average monthly Index weights from August 2025 through January 2026 show allocations concentrated in the bond and equity constituents, with no allocation to the currency constituent in the excerpt. The document emphasizes that much of the performance history is hypothetical backtested data and highlights multiple risks, including the Index’s limited operating history, potential deviations from target volatility, reliance on momentum-based rebalancing, and the possibility of underperforming alternative strategies.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing auto callable contingent interest notes linked to Walmart Inc. common stock, maturing on February 23, 2029.
The notes pay a monthly contingent interest rate of at least 10.60% per annum if Walmart’s closing share price on an Interest Review Date is at or above 70% of the Initial Value, called the Interest Barrier. If the price is below that level, no interest is paid for that month.
The notes are automatically called on quarterly Autocall Review Dates starting May 18, 2026 if Walmart’s share price is at or above the Initial Value, returning principal plus the applicable interest. If not called and the Final Value is below 70% of the Initial Value, investors lose 1% of principal for each 1% decline, which can mean losing more than 30% or even all principal. The notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. An illustrative estimated value is $978.20 per $1,000 note, and the final estimated value will not be less than $940.00 per $1,000 note.
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 in February 2031.
The notes provide uncapped upside of at least 1.58 times any positive index return at maturity, a 20% downside buffer, and expose investors to up to 80% principal loss if the index falls more than 20%. They pay no interest, are unsecured and unsubordinated, and are subject to the credit risk of both the issuer and the guarantor. The minimum denomination is $1,000. If priced on the example date, the estimated value would be about $950.10 per $1,000 note, and when finalized will not be less than $900.00, reflecting embedded selling, structuring and hedging costs.
The underlying index tracks excess-return performance of front-month E‑mini S&P 500 futures, including roll costs, and may underperform the S&P 500 Index, especially when interest rates are high or roll returns are negative. The notes will not be listed, and secondary market prices are expected to be below the issue price.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering long-dated Callable Fixed to Floating Rate Notes due February 27, 2046. The notes pay a fixed interest rate of 11.50% per annum during the initial interest periods through February 27, 2027.
After that, monthly interest becomes floating, equal to (5.35% − the 10-Year CMT Rate) × 10, subject to a 0.00% minimum and a 16.00% maximum per annum. Interest is paid monthly, and the issuer may redeem the notes in whole, but not in part, on the 27th day of each month from February 27, 2027 through January 27, 2046 at par plus accrued interest.
The benchmark is the 10-Year Constant Maturity Treasury rate from Federal Reserve H.15, with the calculation agent able to determine a successor rate and related conventions if that benchmark is discontinued. The notes are unsecured obligations, not bank deposits, and are not insured by the FDIC. Proceeds will be used for general corporate purposes and related hedging, and investors are directed to detailed risk factors describing interest rate, liquidity, benchmark and conflict-of-interest risks.