J.P. Morgan Multi-Asset Index January 2026 update describes how the Index allocates across up to 10 futures-based indices covering equities, fixed income and alternatives in major developed markets. It rebalances at least monthly into the portfolio with the highest recent performance, subject to a volatility threshold and concentration limits, and is subject to a daily deduction equal to 1.00% per annum.
The Index began on November 18, 2022, and combines hypothetical backtested data before that date with actual performance afterward. Over the past 10 years, the Index shows an annualized return of 2.55%, annualized volatility of 4.46% and a Sharpe Ratio of 0.57, compared with a Domestic 30/70 Portfolio (ER) at 3.26% return, 6.31% volatility and 0.52 Sharpe, and a Global 30/70 Portfolio (ER) at 1.84% return, 6.17% volatility and 0.30 Sharpe.
The update also presents recent monthly weights by asset class and region, and detailed monthly returns from January 2016 through December 2025. Extensive risk disclosures highlight the use of backtested data, excess-return construction, momentum strategy risks, potential concentration in bond constituents, derivative and correlation risks, and the fact that all exposures are notional rather than ownership of actual assets.
J.P. Morgan’s Multi-Asset Index is a rules-based benchmark that uses a momentum strategy across futures on U.S. and international equities, fixed income, oil and gold. The document shows monthly and annual Index returns using hypothetical backtested data from February 22, 1994 to November 17, 2022, and actual Index performance from November 18, 2022 through December 31, 2025.
The Index is an “excess return” index, includes a 1.00% per annum daily deduction and was established on November 18, 2022, so it has a limited live history. Historical and backtested returns and allocations are repeatedly described as not indicative of future results, and alternative data sources and simulations were used for earlier periods.
Investing in notes linked to this Index involves multiple risks, including momentum strategy risk, concentration in bond constituents, futures roll and margin risks, correlation risk, non-U.S. market and currency risks, and potential short positions. The notes are not bank deposits, are not FDIC insured and are not approved or disapproved by the SEC or any state regulator.
JPMorgan Chase & Co. is offering preliminary Callable Fixed Rate Notes due January 30, 2051. The notes pay fixed interest at an annual rate of 5.70%, with interest paid in arrears each January 30, beginning January 30, 2027, using a 30/360 day count convention.
The issuer may redeem the notes early, in whole but not in part, on the 30th day of January, April, July and October of each year from January 30, 2028 through October 30, 2050 at par plus accrued interest. The notes are unsecured obligations of JPMorgan Chase & Co., subject to its single-point-of-entry resolution strategy, which means holders rank behind creditors of its subsidiaries in a stress scenario and may recover less than principal and interest. The minimum price to public for certain institutional or advisory accounts is between $937.60 and $1,000 per $1,000 principal amount, and selling commissions are capped at $50 per $1,000.
JPMorgan Chase & Co. is offering callable fixed rate notes due January 30, 2046. The notes pay fixed interest at 5.40% per annum, calculated on a 30/360 day count basis, with interest payable annually in arrears on January 30 of each year, beginning January 30, 2027.
The issuer may redeem the notes, in whole but not in part, on January 30 and July 30 of each year from January 30, 2029 through July 30, 2045 at 100% of principal plus accrued interest. At maturity, investors receive principal plus any accrued and unpaid interest if the notes have not been called. The indicative price to the public is $1,000 per $1,000 principal amount, and selling commissions would be about $23.00 per $1,000 note, capped at $50.00. The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits and are not insured by the FDIC.
JPMorgan Chase & Co. is offering callable fixed-rate notes due January 30, 2036. The notes pay interest at a 5.00% per annum fixed rate, with interest paid annually in arrears on January 30 of each year, beginning January 30, 2027, using a 30/360 day count convention.
The notes may be redeemed by the issuer at par plus accrued interest on January 30 and July 30 of each year, from January 30, 2028 through July 30, 2035, in whole but not in part. For eligible institutional and fee-based advisory accounts, the price to the public per $1,000 principal amount will be between $975.10 and $1,000, and selling commissions would be approximately $5.50 per $1,000, capped at $27.50 per $1,000. The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits, are not FDIC insured, and are subject to resolution and bankruptcy risks described in the accompanying documents.
JPMorgan Chase & Co. is offering callable fixed rate notes due January 26, 2056. The notes pay interest annually at a fixed rate of 5.50% per annum, with payments in arrears each January 26 beginning in 2027, based on a 30/360 day count convention.
Starting July 26, 2030, and on January 26 and July 26 of each year through July 26, 2055, 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 other governmental agency.
For certain eligible institutional and fee-based advisory accounts, the price to the public will range from $925.10 to $1,000 per $1,000 principal amount, and selling commissions are expected to be about $22.50 per $1,000 note, capped at $50.00. The disclosure highlights that in a bankruptcy or Title II resolution, holders of these notes are unsecured creditors and could face losses after equity and subsidiary-level creditors are addressed.
JPMorgan’s January 2026 materials update the S&P 500 Daily Risk Control 10% Index using both hypothetical and actual performance data. The table presents monthly and annual returns based on hypothetical backtested performance from December 31, 1998 through May 12, 2009 and actual index performance from May 13, 2009 through December 31, 2025. The information is described as illustrative, with repeated statements that historical and backtested results are not indicative of future performance.
The update highlights several risks: JPMorgan Chase & Co. is one of the companies in the underlying S&P 500 index, the index may not reach its 10% target volatility, and daily exposure adjustments can limit upside or magnify downside moves in the underlying index. The index may at times be significantly uninvested, includes a deduction for a notional financing cost, and the methodology for calculating that cost was recently changed. JPMorgan emphasizes that simulations, proxies, and modeling choices can materially affect backtested results and that investments linked to the index may not be suitable for all investors.
JPMorgan Chase & Co. provides a January 2026 performance update for the S&P 500 Daily Risk Control 10% Index, an excess-return index that allocates between the S&P 500 and a cash component to target 10% volatility using a daily risk-control overlay. The index was established on May 13, 2009 and its levels are published under ticker SPXT10UE.
The update compares hypothetical and actual performance from December 2015 through December 2025 for the index and two notional 30/70 equity–bond portfolios, showing Sharpe ratios up to 0.76, 10‑year annualized volatility between 10.09% and 12.71%, and 10‑year annualized returns between 5.94% and 8.28%. Detailed monthly and annual return data from January 2016 through December 2025 are also presented.
Key risks highlighted include that JPMorgan Chase & Co. is a component of the underlying S&P 500, the index may not achieve its 10% volatility target, may be significantly uninvested, and reflects a notional financing cost. All performance data, including backtests, are described as illustrative and not indicative of future results.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering callable fixed rate notes due January 25, 2030. The notes pay a fixed interest rate of 4.00% per annum, with interest paid annually on January 26, beginning January 26, 2027 and ending on the maturity date, calculated on a 30/360 day count basis.
The issuer may redeem the notes early, in whole but not in part, on January 26, April 26, July 26 and October 26 of each year from July 26, 2026 through October 26, 2029, at par plus accrued interest. Each note has a price to the public of $1,000 per $1,000 principal amount, with the possibility of slightly lower pricing for certain institutional or fee-based advisory accounts. Selling commissions are paid to dealers within capped per‑note amounts, and the notes are unsecured obligations, not bank deposits and not FDIC insured.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering 15‑month Trigger Callable Yield Notes linked to the lesser performing of the Russell 2000 Index and the EURO STOXX 50 Index. The Notes pay a fixed monthly coupon expected between 7.50% and 8.00% per annum regardless of index performance unless the Notes are called.
JPMorgan may, at its election, call the Notes monthly after an initial three‑month non‑call period, returning principal plus the applicable coupon, with no further payments. If the Notes are not called, and on the Final Valuation Date both indexes are at or above 70% of their Initial Value, investors receive full principal plus the final coupon. If either index finishes below its downside threshold, repayment of principal is reduced in proportion to the decline of the worse performing index, and investors can lose most or all of their investment.
The Notes are issued at $10 per Note in minimum investments of $1,000, with selling commissions to UBS of $0.10 per $10 Note and an estimated value currently indicated around $9.816 per $10 Note, not less than $9.50 when finalized. They are unsecured obligations, not bank deposits, not FDIC‑insured, will not be listed on an exchange, and have complex U.S. tax treatment, including a put option and deposit characterization.