JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a $1,000 minimum denomination and are expected to settle around February 11, 2026, maturing on February 11, 2031.
The notes may pay a monthly contingent interest rate of at least 17.25% per annum (at least $14.375 per $1,000) for any Review Date on which the Index is at or above 72% of its initial level. Starting with the twelfth Review Date on February 8, 2027, the notes are automatically called if the Index is at or above its initial level, paying back $1,000 plus that period’s contingent interest.
If the notes are not called and the final Index level is at least 60% of the initial level, investors receive $1,000 plus any last contingent interest. If the final level is below 60%, repayment is reduced 1:1 with the Index decline, down to zero. The MerQube index embeds a 6.0% per annum daily deduction and a notional financing cost, which drag on performance. The preliminary estimated value is about $931.60 per $1,000, and at pricing will not be less than $900, reflecting fees, hedging costs and JPMorgan’s internal funding rate. The notes are unsecured, not FDIC insured, and may be illiquid.
JPMorgan Chase & Co. director Michele Buck reported an acquisition of common stock tied to her board compensation. On January 20, 2026, she acquired 913.5251 shares of common stock at $306.505 per share through a deferral of her annual stock grant, which will be paid in shares upon termination of her service as a director. Following this transaction, she beneficially owns 918.5251 shares of JPMorgan common stock in direct ownership.
JPMorgan Chase & Co. approved 2025 annual compensation of $43.0 million for CEO James Dimon, up from $39.0 million a year earlier. His pay includes a $1.5 million base salary and $41.5 million in performance-based variable incentive compensation, with $5.0 million in cash and $36.5 million in at-risk Performance Share Units tied entirely to financial performance.
The Board cited strong firm performance, including $185.6 billion of 2025 revenue, net income of $57.0 billion or $20.02 per share, and 20% return on tangible common equity. The quarterly common dividend was raised from $1.25 to $1.50 per share. The firm ended 2025 with a 14.5% common equity Tier 1 ratio, $288 billion of CET1 capital, and $1.5 trillion of cash and marketable securities, and it raised about $3.3 trillion of credit and capital for clients.
JPMorgan Chase director Mark A. Weinberger reported the deferral of his annual stock grant into JPM common stock. On January 20, 2026, he acquired 913.5251 shares at a reference price of $306.505 per share under a deferred compensation arrangement. Following this transaction, he beneficially owns 4,111.4062 shares of JPM common stock in direct form.
According to the filing, this grant is a deferred annual stock award that will be paid in JPM shares upon his termination of service as a director, rather than being received immediately in cash or stock.
JPMorgan Chase director Phebe N. Novakovic reported receiving 913.5251 shares of common stock on January 20, 2026, as an acquisition coded "A". The filing explains this was a deferral of her annual stock grant, which will be paid in JPMorgan Chase shares when her service as a director ends. After this transaction, she beneficially owned 13,258.911 shares directly. The filing also notes an additional 45 shares of common stock held indirectly through her spouse.
Virginia M. Rometty, a director of JPMorgan Chase & Co., reported acquiring 913.5251 shares of JPM common stock on 01/20/2026 at $306.505 per share.
The transaction reflects a deferral of her annual stock grant, which is payable in JPM shares when her service as a director ends. Following this grant, she beneficially owns 14,700.1621 shares of JPM common stock in direct form.
JPMorgan Chase director Brad D. Smith reported a deferred stock award under the company’s director compensation program. On 01/20/2026, he was credited with 913.5251 shares of common stock at a price of $306.505 per share, described as a deferral of his annual stock grant payable in shares upon termination of his service as a director. Following this transaction, he directly beneficially owned 2,946.5824 shares. The filing also lists additional indirect holdings in JPMorgan Chase common stock through family trusts, his spouse, a spouse’s GRAT, and a spouse’s IRA.
JPMorgan Chase director Alex Gorsky reported a deferred stock grant from his board service. On 01/20/2026, he acquired 913.5251 shares of JPMorgan Chase common stock at a reported price of $306.505 per share. According to the filing, this was a deferral of his annual stock grant, which will be payable in shares of stock upon termination of his service as a director.
Following this transaction, Gorsky beneficially owned 7,293.5825 shares of JPMorgan Chase common stock in direct form. The transaction reflects routine director compensation rather than an open-market purchase or sale.
JPMorgan Chase director Melody L. Hobson reported receipt of 913.5251 shares of common stock on January 20, 2026, coded as an acquisition. The footnote explains this is a deferral of her annual stock grant, which will be paid in JPM shares when her service as a director ends.
After this transaction, Hobson beneficially owned 29,552.0067 shares directly and 124,155 shares indirectly through The GWL Living Trust. This filing reflects routine director equity compensation and updated ownership levels.
JPMorgan Chase director Alicia Boler Davis reported receiving a deferred annual stock grant tied to her board service. On 01/20/2026, she acquired 913.5251 shares of common stock at $306.505 per share through a transaction coded as an acquisition. After this grant, she held 3,611.4062 shares of JPMorgan Chase common stock directly, and an additional 285 shares held indirectly by a trust. The filing explains that this represents a deferral of her annual stock grant, which will be payable in JPMorgan Chase shares upon the termination of her service as a director.