JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering callable fixed-to-floating rate notes due February 8, 2036. The notes pay a fixed 10.00% per annum during the initial interest periods through February 10, 2027.
After that, the interest rate for each period equals (5.50% minus the 10-Year CMT Rate) multiplied by 8.00, with a minimum interest rate of 0.00% per annum. Starting February 10, 2027, and on the 10th calendar day of February, May, August and November through November 10, 2035, the issuer may redeem the notes at par plus accrued interest.
Investors receive principal plus any accrued interest at maturity if the notes are not called and the issuer and guarantor meet all obligations. Key risks include credit risk of JPMorgan entities, interest rate risk tied to the 10-Year CMT Rate, potential changes or replacements of that benchmark, and limited or volatile secondary market prices.
JPMorgan Chase Financial Company LLC is offering Callable Range Accrual Notes linked to the 10-Year Constant Maturity Treasury (CMT) rate, scheduled to mature on February 9, 2046. The notes pay a fixed 11.00% per annum during the initial interest periods from issuance through but excluding February 10, 2027.
After that, interest becomes variable for each quarterly interest period and ranges from 0.00% to 11.00% per annum, depending on how many days in the period the 10-Year CMT rate is at or below 5.00%. If the 10-Year CMT rate is above 5.00% on all relevant days, investors receive 0.00% interest for that period.
Starting February 10, 2027, and on the 10th of February, May, August and November thereafter, JPMorgan may call the notes at 100% of principal plus accrued interest, which can limit upside if interest conditions are favorable. The estimated value is expected to be below the price to public (for example, approximately $936.90 per $1,000 notional if priced on the date shown), reflecting selling commissions and hedging and structuring costs. The calculation agent, an affiliate of JPMorgan, has discretion to determine or replace the 10-Year CMT reference rate if it is discontinued, which can affect interest payments and secondary market values.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering callable contingent interest notes linked to the least performing of the iShares Silver Trust (SLV), SPDR Gold Trust (GLD) and iShares 20+ Year Treasury Bond ETF (TLT), maturing on January 26, 2029.
The notes are issued in $1,000 minimum denominations and pay a monthly contingent interest rate of at least 13.55% per annum (at least $11.2917 per month per $1,000) only if on each review date the closing price of one share of each fund is at or above its Interest Barrier, set at 60% of its initial value. If any fund is below its barrier on a review date, no interest is paid for that month.
JPMorgan may redeem the notes early, in whole, on specified interest payment dates starting April 28, 2026, paying $1,000 plus any applicable interest. If not redeemed and on the final review date each fund is at or above its Trigger Value (50% of its initial value), investors receive $1,000 plus the final contingent interest. If any fund is below its trigger, repayment is reduced based on the worst-performing fund and investors can lose more than half, up to all, of principal. The preliminary estimated value is about $944.10 per $1,000, and will not be less than $900. Payments are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is issuing $1,906,000 of Auto Callable Yield Notes linked to the common stock of Eli Lilly and Company, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay interest of 12.50% per annum, credited at 1.04167% per month, as long as they have not been automatically called.
The notes may be automatically called on scheduled review dates starting July 21, 2026 if Eli Lilly’s share price is at or above the initial value of $1,078.52, in which case investors receive $1,000 per note plus the applicable interest and no further payments. If held to the February 25, 2027 maturity and the final share price is at or above 70% of the initial value, investors receive full principal plus the final interest payment.
If the final price falls below 70% of the initial value, repayment of principal is reduced dollar-for-dollar with the stock’s decline, and investors can lose more than 30% and up to all of their principal. The estimated value at pricing was $984.90 per $1,000 note, and the notes are unsecured, unlisted obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering S&P 500®-linked digital buffered notes that pay a fixed 8.70% return at maturity per $1,000 note if the S&P 500 ending level is at or above the strike of 6,796.86, or down by up to 10% from that level.
If the index falls by more than 10%, investors lose 1.11111% of principal for each additional 1% decline, which can result in a substantial or total loss of principal. The notes, guaranteed by JPMorgan Chase & Co., mature on February 25, 2027, pay no interest or dividends, are not listed on an exchange, and have an estimated value of $988.20 per $1,000, below the $1,000 issue price due to selling, structuring and hedging costs.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the common stock of Marvell Technology, Inc. (MRVL), fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination and a term to January 27, 2028.
The notes pay a contingent quarterly coupon of at least $35.00 per $1,000 (at least 14.00% per annum) only if on a Review Date the Marvell share price is at or above the Interest Barrier, set at 45.00% of the Strike Value of $83.10. Missed coupons can be paid later if the barrier is met on a future Review Date.
The notes are auto callable on specified Review Dates starting July 22, 2026 if the share price is at or above the Strike Value, in which case investors receive $1,000 plus due and unpaid contingent interest and the notes terminate. At maturity, if not called and the final share price is at or above the Trigger Value (also 45.00% of the Strike Value), investors receive $1,000 plus any due contingent interest. If the final price is below the Trigger Value, repayment is reduced one-for-one with the stock decline from the Strike Value, and investors may lose more than 55% or all of principal. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not bank deposits, and will not be listed on an exchange.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering medium-term Digital Equity Notes due July 23, 2032 linked to the S&P 500® Index. Each note has a $1,000 principal amount and does not pay interest. At maturity, if the S&P 500® final level is at least 85.00% of its initial level, holders receive a fixed "threshold settlement amount," expected between $1,497.50 and $1,583.70 per $1,000 note, capping upside.
If the index has fallen more than 15.00%, repayment is reduced one-for-one with the index decline, and investors can lose up to their entire principal. The preliminary estimated value is expected between $927.10 and $937.10 per $1,000, below the 100% issue price due to selling commissions of up to 5.00%, hedging costs and dealer profits. The notes are unsecured obligations of JPMorgan Financial, guaranteed by JPMorgan Chase & Co., will not be listed, have no issuer redemption feature and carry complex tax and credit risks.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $2,313,000 of Review Notes linked to the MerQube US Large-Cap Vol Advantage Index, in $1,000 minimum denominations. The notes may be automatically called as early as January 25, 2027 if the Index is at or above the Call Value.
On an automatic call, investors receive $1,000 plus a call premium that starts at 22.500% and can reach 90.000% by the final review date. If the notes are not called and the Index closes below the Initial Value by more than the 30% buffer at maturity, repayment is reduced using a 1.42857 downside leverage factor, so some or all principal can be lost.
The Index itself includes a 6.0% per annum daily deduction, which drags performance relative to a similar index without this charge and influences the note’s economics. The estimated value was $940.60 per $1,000 note when priced, reflecting structuring and hedging costs embedded in the $1,000 price to public.
JPMorgan Chase Financial Company LLC is issuing $1,828,000 of Auto Callable Accelerated Barrier Notes linked to the worst performer among Bloom Energy, Hecla Mining and Seagate Technology shares, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are unsecured, unsubordinated obligations and do not pay interest or dividends.
The notes may be automatically called as early as April 21, 2026 if each stock is at or above 70% of its initial value, paying $1,330 per $1,000 note. If not called, investors receive 2x the gain of the least performing stock at maturity, but if any stock finishes below 60% of its initial value, principal is reduced one-for-one with that loss, potentially to zero. The estimated value at pricing was $878.20 per $1,000 note, below the issue price.
JPMorgan Chase Financial Company LLC is offering medium-term “digital” notes due February 3, 2028, linked to the iShares 20+ Year Treasury Bond ETF (TLT). Each note has a $1,000 principal amount and pays no interest; your result depends entirely on the ETF’s price on the February 1, 2028 determination date versus its initial level of $87.31.
If the ETF’s final level is at least 90% of the initial level, you receive a fixed threshold settlement amount expected to be at least $1,148 per $1,000 note, capping your upside even if the ETF rises substantially. If the ETF falls by more than 10%, your loss is leveraged at about 1.1111% of principal for each additional 1% decline, so you can lose your entire investment.
The notes are unsecured obligations of JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., and are subject to both entities’ credit risk. They will not be listed on an exchange, may have limited liquidity, and have an estimated value at pricing expected between $964.90 and $974.90 per $1,000, reflecting selling commissions, hedging costs and dealer profits. The filing highlights complex U.S. tax and potential Section 871(m) considerations and notes conflicts of interest from JPMorgan’s roles in issuing, hedging and valuing the notes.