JPMorgan Chase Financial Company LLC is offering callable fixed rate notes due January 30, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay interest annually at a fixed rate of 4.20% per annum, calculated on a 30/360 day count basis, with payments each January 30 starting in 2027.
The issuer may redeem the notes at its option on January 30 and July 30 of each year from 2027 through 2030 at par plus accrued interest, so investors face reinvestment risk if the notes are called early. The notes are unsecured obligations, are not bank deposits and are not insured by the FDIC or any governmental agency. Selling commissions are expected to be about $8.00 per $1,000 principal amount note and will not exceed $20.00 per $1,000.
JPMorgan Chase Financial Company LLC is offering Uncapped Accelerated Barrier Notes due January 26, 2029, linked to the least performing of the Nasdaq-100 Index, the Russell 2000 Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes provide at maturity at least 1.69 times any positive return of the least performing index and return of principal if each index stays at or above 70% of its initial level on the observation date. If any index finishes below this 70% barrier, principal is reduced 1% for each 1% decline in the least performing index, down to a total loss.
The notes pay no interest, do not provide dividends on index constituents, and are unsecured obligations subject to the credit risk of both issuers. They are expected to be sold in minimum denominations of $1,000, with an illustrative estimated value of about $980.60 per $1,000 and a commitment that the final estimated value will not be less than $950 per $1,000. The notes will not be listed, so liquidity will depend on JPMS secondary market interest, and secondary prices are expected to be below the original issue price.
JPMorgan Chase & Co. is offering preliminary terms for callable fixed rate notes due January 28, 2033. The notes pay fixed interest of 4.55% per annum, calculated on a 30/360 basis, on January 30 of each year from 2027 through 2032 and at maturity, on a $1,000 principal amount per note.
The issuer may redeem the notes at par plus accrued interest on January 30 and July 30 of each year from 2028 to 2032, so investors face reinvestment risk if the notes are called early. The notes are unsecured obligations of JPMorgan Chase & Co. and are subject to its preferred “single point of entry” resolution strategy, meaning losses in a failure scenario could be imposed on holders. Selling commissions are expected to be about $8.50 per $1,000 note and will not exceed $22.50 per $1,000 note.
JPMorgan Chase & Co. is offering callable fixed rate notes due January 30, 2036 under a preliminary pricing supplement. The notes pay fixed interest at an annual rate of 4.80%, with interest paid once a year on January 30, beginning January 30, 2027, using a 30/360 day count convention. At maturity, if the notes have not been redeemed, investors receive the principal plus any accrued and unpaid interest.
Starting January 30, 2028, and on January 30 and July 30 each year through July 30, 2035, 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. In a resolution of JPMorgan Chase & Co., losses would be absorbed first by equity holders and then by unsecured creditors, including holders of these notes, whose claims would be structurally junior to creditors of subsidiaries.
JPMorgan Chase Financial Company LLC is issuing $1,500,000 of Callable Range Accrual Notes linked to the 10-Year Constant Maturity Treasury Rate, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay quarterly interest at a variable rate based on a 7.00% per annum interest factor, but only for days when the 10-year CMT rate is less than or equal to a 4.675% barrier. On days the rate is above that barrier, no interest accrues, so quarterly interest can be significantly reduced or even zero.
The notes have a 5-year term, maturing on January 14, 2031, but JPMorgan Financial may redeem them in whole on any quarterly redemption date starting January 14, 2027 at par plus accrued interest. The issue price is $1,000 per note with a minimum investment of $1,000, while the estimated value at pricing is $966.40 per note, reflecting selling commissions and hedging costs. Principal repayment at par is only assured at maturity or early redemption, and all payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co. The notes are not listed, may have limited liquidity, involve complex U.S. tax treatment as contingent payment debt instruments, and are not FDIC insured.
JPMorgan Chase Financial Company LLC is issuing $7,967,000 of callable contingent interest notes linked to the least performing of the Nasdaq-100 Index, the SPDR S&P Regional Banking ETF and the VanEck Semiconductor ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent interest rate of 15.10% per year (1.25833% per month) only when, on a Review Date, each underlying is at or above 70% of its Initial Value; if any falls below that level, no interest is paid for that period.
The notes may be redeemed early at the issuer’s option on specified interest payment dates starting July 14, 2026. If held to December 14, 2027 and not redeemed early, full principal is repaid only if each underlying finishes at or above 60% of its Initial Value; otherwise, repayment is reduced in line with the decline of the worst performer, and investors can lose more than 40% or even all of their principal. The notes are unsecured, not FDIC insured, not listed on an exchange, have an estimated value of $974.40 per $1,000 at pricing and do not provide dividends from the underlying index or ETFs.
JPMorgan Chase Financial Company LLC is issuing $2,035,000 of Auto Callable Accelerated Barrier Notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are sold in $1,000 denominations at $1,000 per note, with underwriting fees of $20 per note and issuer proceeds of $980 per note.
The notes can be automatically called as early as April 14, 2027 if the index closes at or above the Call Value, paying back $1,000 plus a call premium that starts at $294.6825 and can reach $759.0873 per note by the final review date. If held to maturity in January 2033 and not called, investors get 3.00 times any positive index return, full principal back if the index stays at or above 50% of its initial level, and one-for-one losses below that barrier, which can mean losing all principal.
The underlying index applies a 6.0% per annum daily deduction and a notional financing cost on the QQQ Fund, which drags on performance and causes the index to trail a comparable index without these charges. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not FDIC insured, pay no interest or dividends, and have an estimated value of $914.30 per $1,000, below the issue price due to selling, structuring and hedging costs.
JPMorgan Chase & Co. is offering callable fixed rate notes maturing on January 28, 2056. The notes pay fixed interest of 5.75% per year, with interest paid annually on January 30, starting January 30, 2027, and on the maturity date. Each note has a principal amount of $1,000, and at maturity investors are scheduled to receive back principal plus any accrued and unpaid interest, as long as the notes have not been called.
Beginning January 30, 2028, and every January 30 and July 30 through July 30, 2055, JPMorgan may redeem the notes in whole at par plus accrued interest. The notes are unsecured obligations of JPMorgan Chase & Co. and are structurally subordinated to liabilities of its subsidiaries. The disclosure explains that, under JPMorgan’s preferred “single point of entry” resolution strategy and potential FDIC Title II resolution, holders of these notes could face losses and may not recover all principal and interest in a failure scenario. The notes are not bank deposits or FDIC insured and involve significant risks highlighted in the referenced risk factor sections.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering auto callable contingent buffered return enhanced notes linked to the Nasdaq-100 Index®. These notes are designed to pay a fixed return if called early and leveraged exposure to index gains if held to maturity.
On the January 22, 2027 review date, if the index closing level is at or above the strike level, the notes are automatically called and pay $1,000 plus a call premium of at least 12.50% per note on the call settlement date. If not called and held to the January 13, 2028 maturity, investors earn upside at an Upside Leverage Factor of at least 1.50 when the index finishes above the strike. If the index is down by up to 20.00%, principal is returned; if it falls by more than 20.00%, losses mirror the index decline beyond that level.
This preliminary supplement indicates an estimated value of about $979.50 per $1,000 note today, with a final estimated value not less than $960.00, reflecting selling commissions, structuring, and hedging costs. The notes are unsecured obligations, not bank deposits or FDIC insured, and carry market, liquidity, credit, valuation, and tax risks, including potential implications under Section 871(m) for non-U.S. investors.
JPMorgan Chase Financial Company LLC is offering $13,109,000 of Contingent Income Auto-Callable Securities due January 13, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes are linked to the worst performing of the Russell 2000, S&P 500 and Nasdaq-100 indexes and pay a contingent quarterly coupon of $21.875 per $1,000 (2.1875%) only if each index closes at or above 75% of its initial level on the relevant determination date.
If on any non-final determination date all three indexes are at or above their initial levels, the notes auto-call for $1,000 plus the coupon. At maturity, if not called and each index is at or above its 75% downside threshold, investors receive $1,000 plus the final coupon; otherwise repayment of principal is reduced 1-to-1 with the worst index and can fall to zero.
The issue price is $1,000 per note, with an estimated value on the pricing date of $964, reflecting selling commissions, a structuring fee, and hedging costs. The securities are unsecured, not FDIC insured, will not be listed on an exchange, and are intended for buy-and-hold investors willing to accept full principal risk.