JPMORGAN CHASE & CO SEC Filings

JPMorgan Chase provides a January 2026 performance update for the S&P 500 Daily Risk Control 5% Index, which dynamically allocates between the S&P 500 and a cash component to target 5% volatility. Volatility is based on exponentially weighted historical returns, and the index is calculated on an excess return basis.

From December 2015 through December 2025, the index shows a Sharpe Ratio of 0.78, 10-year annualized volatility of 5.06% and a 10-year annualized return of 3.93%. Annualized returns over five and three years are 3.12% and 4.34%, with a 1.11% return over the last year. Comparative hypothetical portfolios, such as the Domestic 30/70 Portfolio (ER) and Global 30/70 Portfolio (ER), exhibit different risk/return profiles and higher 10-year volatility.

The update highlights that all non-index portfolio data are hypothetical and that past and backtested performance are not indicative of future results. Key risks include the possibility that the index may not achieve its 5% volatility target, may be significantly uninvested in certain environments, and reflects a deduction for notional financing costs. Investors are directed to broader risk discussions in related supplements when considering CD notes linked to the index.

JPMorgan Chase & Co. is offering callable fixed rate notes due July 28, 2034. The notes pay a fixed interest rate of 4.60% per annum, with interest paid annually in arrears on January 30 of each year from January 30, 2027 to January 30, 2034, and on the maturity date.

Starting January 30, 2028 and through April 30, 2034, JPMorgan may redeem the notes on specified January, April, July and October dates at a price equal to the principal plus accrued interest, meaning investors may not hold to maturity if the issuer calls early. The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits and are not insured by the FDIC or any government agency.

Pricing is expected around $1,000 per $1,000 principal amount, with eligible institutional or fee-based accounts potentially paying between $980.10 and $1,000. Selling commissions would be around $16 and will not exceed $35 per $1,000 principal amount. The filing highlights that in a resolution scenario, holders rank behind creditors of JPMorgan’s subsidiaries, and it confirms the notes are expected to be treated as fixed-rate debt for U.S. federal income tax purposes.

JPMorgan Chase & Co. is offering callable fixed rate notes due January 28, 2033. The notes pay fixed interest at an annual rate of 4.65%, calculated on a 30/360 day count basis, with interest paid in arrears each January 30 beginning in 2027 and on the maturity date, so long as the notes have not been redeemed early.

JPMorgan may, at its option, redeem the notes in whole (but not in part) on January 30 and July 30 of each year from 2028 through 2032 at par plus accrued and unpaid interest. The indicative price to the public is $1,000 per $1,000 principal amount, with the possibility of lower pricing, no less than $985.10, for eligible institutional or fee-based advisory accounts. Selling commissions, if the notes priced on the indicated date, would be about $4.00 per $1,000 and will not exceed $20.00 per $1,000. The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits, and are not FDIC insured.

JPMorgan Chase Financial Company LLC is offering capped buffered equity notes linked to the Invesco S&P 500 Top 50 ETF (XLG), maturing on January 26, 2027, and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are issued in $1,000 minimum denominations and provide unleveraged exposure to XLG.

At maturity, investors participate in any XLG gain up to a maximum return of at least 11.30%, corresponding to a maximum payment of at least $1,113 per $1,000 note. A 10% buffer protects principal for declines of up to 10%, but beyond that investors lose 1% of principal for each additional 1% drop, up to a 90% loss if the ETF falls 100%.

The notes pay no interest, pass through no dividends from the fund and are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. They will not be listed, so liquidity may be limited, and secondary prices are expected to be below the issue price. If priced today, the estimated value would be about $987.50 per $1,000 note and will not be less than $900 when set, reflecting selling commissions, hedging costs and issuer funding assumptions.

JPMorgan Chase & Co. is offering preliminary terms for callable fixed rate notes due July 30, 2038. The notes pay fixed interest at 5.25% per annum, with interest paid annually on January 30, starting January 30, 2027, and on the maturity date, so long as the notes have not been redeemed earlier.

Beginning January 30, 2028, and on January 30 and July 30 of each year through January 30, 2038, JPMorgan may redeem the notes in whole at an amount equal to principal plus accrued and unpaid interest. The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits and are not insured by the FDIC or any other governmental agency.

The documents highlight that in a JPMorgan resolution scenario, losses would be borne first by equity holders and then by unsecured creditors, including holders of these notes, whose claims would be structurally subordinated to creditors of JPMorgan’s subsidiaries. Investors are directed to detailed risk factors and U.S. federal income tax discussions in the related prospectus materials.

JPMorgan Chase Financial Company LLC is offering Trigger Callable Yield Notes linked to the lesser performer of the Russell 2000 Index and the EURO STOXX 50 Index, with an issue price of $10 per Note and a 15‑month term unless called earlier. The Notes are expected to pay a fixed monthly coupon at an annual rate between 9.00% and 9.50%, regardless of index performance, until they are called or mature. JPMorgan Financial may elect to call the Notes monthly after an initial three‑month non‑call period, repaying principal plus the applicable coupon, with no further payments.

If the Notes are not called and on the Final Valuation Date each index is at or above 70% of its Initial Value (the Downside Threshold), investors receive full principal back plus the final coupon. If either index closes below its Downside Threshold, principal repayment is reduced in proportion to the loss on the lesser performing index, and investors can lose a significant portion or all of their principal. The Notes are unsecured obligations of JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., are not bank deposits or FDIC insured, and carry issuer and guarantor credit risk. The estimated value is illustrated at approximately $9.911 per $10 Note, and will not be less than $9.60 per $10 when finalized.

JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated Callable Contingent Interest Notes linked to the worst performer among Fifth Third Bancorp, Regions Financial Corporation and KeyCorp, fully guaranteed by JPMorgan Chase & Co. The notes run to January 24, 2031 and may be redeemed early at the issuer’s option on quarterly Interest Payment Dates starting April 23, 2026.

Holders can receive a quarterly Contingent Interest Payment of at least $28.125 per $1,000 (at least 11.25% per annum) for any Review Date on which each stock closes at or above 60.00% of its Initial Value, but no interest is paid if any stock is below this barrier. If held to maturity and any stock finishes below its 60.00% Trigger Value, principal is reduced one-for-one with the decline of the least performing stock and investors can lose more than 40.00% or all of their investment.

The preliminary estimated value is approximately $925.00 per $1,000 note and will not be less than $900.00, reflecting embedded selling, structuring and hedging costs. The notes are not bank deposits, are not FDIC insured, and payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto-callable review notes linked separately to the Russell 2000 Index, the VanEck Gold Miners ETF and the State Street Energy Select Sector SPDR ETF, maturing in January 2031. The notes may be automatically called as early as January 2027 if each underlying closes at or above 100% of its initial value, paying back principal plus a fixed call premium.

The minimum call premiums range from at least 21.15% of principal on the first review date to at least 105.75% on the final review date, but upside is capped at these amounts. If the notes are not called and each underlying finishes at or above 60% of its initial value, investors receive only their principal back. If any underlying ends below 60%, repayment is reduced one-for-one with its loss, so investors can lose more than 40% and up to all of their principal.

The notes pay no interest and do not pass through dividends on the ETFs or underlying stocks. They are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. The issuer estimates the initial economic value at about $918.20 per $1,000 principal, with a minimum of $900.00, reflecting embedded fees, hedging costs and dealer compensation.

J.P. Morgan is providing an index supplement describing the J.P. Morgan Total Return^SM Index, which is referenced by securities of JPMorgan Chase & Co. The index is a rules-based, momentum-style strategy that allocates monthly among a basket of fixed-income and related ETFs, including U.S. Treasuries, investment-grade and high-yield credit, emerging markets debt, mortgage-backed securities, inflation-protected bonds, preferred stock and floating-rate notes.

The supplement presents hypothetical backtested monthly and annual returns and portfolio weights from 2004 to 2017 and actual index and allocation data from July 13, 2017 through December 31, 2025, in some cases using proxy indices to estimate pre-launch ETF performance after deducting assumed fund expenses. It repeatedly warns that historical and backtested results and past allocations are not indicative or predictive of future performance. Key risks highlighted include the limited operating history of the index, reliance on a momentum-based strategy with monthly rebalancing and weighting constraints, correlation and substitution risks among basket constituents, significant fixed-income and high-yield credit risks, ETF tracking differences, and the credit risk of JPMorgan Chase Bank, N.A. for investments linked to the index.