JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the Class A common stock of Meta Platforms, Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are designed to pay a Contingent Interest Payment on each Review Date if Meta’s closing price is at least 75.00% of the Initial Value, and will be automatically called if Meta’s price on any non-final Review Date is at least the Initial Value.
If the notes are not called and Meta’s Final Value is below the Trigger Value (75.00% of the Initial Value), investors lose 1% of principal for each 1% decline, up to a total loss. The hypothetical Contingent Interest Rate is 13.50% per annum (3.56385% per quarter), and the estimated value would be about $970.00 per $1,000 note and will not be less than $950.00 per $1,000 when set. The notes are unsecured, not FDIC insured, pay no fixed interest or dividends, and involve significant market, credit, liquidity and tax risks.
JPMorgan Chase Financial Company LLC is issuing $572,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination and was priced on January 2, 2026, with expected settlement on or about January 7, 2026.
The notes pay a Contingent Interest Payment of $33.75 per $1,000 (a 13.50% per annum rate, paid at 3.375% per quarter) on any Review Date where the Index closes at or above 60.00% of its Initial Value of 3,824.00. The notes are automatically called, starting July 2, 2026, if on a Review Date (other than the first and final) the Index closes at or above the Initial Value; investors then receive $1,000 plus the applicable Contingent Interest Payment and no further payments.
If the notes are not called and the Final Value is at least 60.00% of the Initial Value, investors receive $1,000 plus the final Contingent Interest Payment at maturity on January 7, 2031. If the Final Value is below 60.00% of the Initial Value, repayment is reduced one-for-one with the Index loss, and investors can lose more than 40.00% and up to all of their principal. The Index includes a 6.0% per annum daily deduction, which drags performance, and the notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering Contingent Income Auto-Callable Securities due January 5, 2029, linked to the Class A common stock of Affirm Holdings, Inc. The aggregate principal amount is $4,523,000, with each security having a stated principal amount and issue price of $1,000.
Holders may receive a contingent quarterly payment of $45.50 per $1,000 (4.55%) on each determination date when Affirm’s closing stock price is at or above the downside threshold of $37.015, equal to 50% of the initial stock price of $74.03. If the stock is below that level, no payment is made for that quarter.
The notes are auto-callable: if on any non-final determination date the stock closes at or above $74.03, the securities are redeemed early for principal plus the applicable contingent payment and any unpaid prior contingent payments. If not called and the final stock price is at or above the downside threshold, investors receive principal plus the final contingent payment and any unpaid prior amounts.
If the securities are not called and the final stock price is below the downside threshold, repayment is reduced 1-for-1 with the stock’s decline, and the maturity payment will be less than 50% of principal and could be zero, so investors can lose their entire investment. The estimated value on the pricing date is $946.50 per $1,000 security, and the notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated capped notes linked to the SPDR® Gold Trust, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are designed to give 125.00% participation in any positive Fund Return up to a maximum return of at least 16.31%, illustrated by a hypothetical Maximum Amount of $163.10 per $1,000 principal amount note at maturity on January 20, 2027.
Investors forgo interest and may lose up to 10.00% of principal, as repayment is floored at $900.00 per $1,000 note if the Fund declines. The estimated value is indicated at approximately $985.00 per $1,000 note and will not be less than $960.00 when set, reflecting selling commissions and hedging costs. Payments depend on the SPDR® Gold Trust and are subject to the credit risks of JPMorgan Financial and JPMorgan Chase & Co., with no listing and limited liquidity expected.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering callable contingent interest notes linked to the lesser performance of the KraneShares CSI China Internet ETF and the iShares China Large-Cap ETF, maturing on January 10, 2028. The notes can pay a quarterly contingent interest of at least 11.50% per annum (at least 2.875% per quarter) if, on a given review date, each ETF’s share price is at or above 70.00% of its initial value. Missed interest can be paid later if the barrier is met on a future review date.
The issuer may redeem the notes early on specified interest payment dates starting July 9, 2026, returning principal plus any due interest. At maturity, if both ETFs are at or above 70.00% of their initial values, investors receive full principal plus any due interest; if either is below that level, repayment is reduced one-for-one with the loss of the lesser-performing ETF, with losses potentially up to the full principal. The preliminary estimated value is about $964.20 per $1,000 note and will not be less than $950.00, reflecting structuring and hedging costs. The notes are unsecured, not FDIC insured, and expose investors to Chinese equity, emerging markets, currency and sector-specific risks.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering 3-year structured notes linked to the MerQube US Large-Cap Vol Advantage Index. The notes have a minimum denomination of $1,000 and an estimated value of at least $900 per $1,000 at pricing. The index uses E‑Mini S&P 500 futures with leverage that can range from 0% to 500% and embeds a 6.0% per annum daily deduction.
The notes feature annual review dates through January 30, 2029, with automatic call if the index is at or above its initial level, paying back principal plus a call premium of at least 29.50% per annum. If not called, principal is protected only down to a barrier at 60.00% of the initial index level; below that, repayment is reduced one-for-one with the index loss, and investors can lose all principal. Payments depend on the credit of both issuing and guaranteeing entities, and investors do not receive interest, dividends, or voting rights. The disclosure highlights significant risks, including leverage, index methodology, liquidity, and tax uncertainty.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering three-year structured notes linked to the MerQube US Tech+ Vol Advantage Index. This index dynamically adjusts exposure to an unfunded position in the Invesco QQQ Trust, with leverage between 0% and 500%, and reflects a 6.0% per annum daily deduction plus a notional financing cost.
The notes feature annual review dates and an automatic call if the index level is at or above its initial value, paying at least a 26.25% call premium per year on top of principal on the applicable call date. If the notes are not called and the final index value is at or above 60% of the initial value, investors receive full principal at maturity. If the final value is below 60%, repayment is reduced one-for-one with the index loss, and investors can lose more than 40% and up to all of their principal. The estimated value on the pricing date will not be less than $900 per $1,000 note, and all payments are subject to JPMorgan credit risk.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering callable contingent interest notes linked separately to the SPDR S&P Regional Banking ETF (KRE), VanEck Semiconductor ETF (SMH) and iShares Silver Trust (SLV), maturing on July 10, 2028. The notes pay a quarterly contingent coupon of at least 12.15% per annum (at least $30.375 per $1,000) only when each fund’s share price is at or above 45% of its initial value on the relevant review date; otherwise no interest is paid.
The issuer can redeem the notes early on any interest payment date from July 9, 2026, paying $1,000 plus any due coupon, which would stop future interest. If held to maturity and any fund finishes below its 45% trigger, principal is reduced one-for-one with the loss of the worst performer, so investors can lose more than 55% and up to all of their money. The estimated value is about $942.60 per $1,000 at launch and will not be less than $900, reflecting embedded fees, hedging costs and issuer funding assumptions.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering capped dual directional buffered equity notes linked to the worst performer of the Dow Jones Industrial Average, Russell 2000 Index and S&P 500 Index, maturing on February 19, 2027.
The notes provide unleveraged exposure to index gains with a Maximum Upside Return of at least 17.50%, and upside exposure to index declines up to a 15.00% buffer, allowing a positive return when the least performing index is down by up to that amount. Beyond a 15.00% decline in any index, principal is reduced on a 1:1 basis, so investors can lose up to 85.00% of principal at maturity.
The notes pay no interest or dividends, are unsecured and unsubordinated obligations of JPMorgan Chase Financial with a minimum denomination of $1,000. If priced on the example date, the estimated value would be about $986.20 per $1,000 note and will not be less than $900.00 per $1,000 at pricing. The notes will not be listed, and secondary market prices are expected to be below the original issue price.
JPMorgan Chase Financial Company LLC is offering capped buffered equity notes linked to the Invesco QQQ Trust, Series 1, maturing on April 14, 2027, and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes give 1.00x exposure to any QQQ gains at maturity, but the total return is capped at a Maximum Return of at least 18.00%.
If QQQ is flat or down by up to the 10.00% Buffer Amount, investors receive back their $1,000 principal. If QQQ falls by more than 10.00%, principal is reduced 1% for each 1% drop beyond the buffer, for a potential loss of up to 90.00% of principal. The notes pay no interest, and investors forgo any QQQ dividends.
The notes are unsecured and unsubordinated obligations of JPMorgan Financial, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. They will not be listed on any exchange, so liquidity depends on JPMS making a market. If priced on the indicated date, the estimated value would be about $986.40 per $1,000 note, and at issuance it will not be less than $900.00, reflecting selling commissions, hedging costs and issuer funding assumptions. The tax discussion indicates a reasonable approach of treating the notes as open transactions, with potential application of constructive ownership and Section 871(m) rules.