JPMorgan Chase & Co. is issuing $15,200,000 Callable Fixed Rate Notes due December 21, 2035. The notes pay fixed interest at 5.10% per annum, calculated on a 30/360 basis, with interest paid annually on December 23 from 2026 through 2034 and at maturity, for each $1,000 principal amount.
The issuer may redeem the notes early, in whole but not in part, on June 23 and December 23 of each year from December 23, 2027 through June 23, 2035 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 government agency.
Under JPMorgan’s preferred “single point of entry” resolution strategy, losses in a severe stress or failure scenario would be borne first by equity holders and then by unsecured creditors, including holders of these notes, whose claims are structurally junior to creditors of JPMorgan’s subsidiaries and to priority and secured creditors.
JPMorgan Chase & Co. is offering $13,240,000 of callable fixed rate notes due December 23, 2030. The notes pay fixed interest at 4.20% per annum, with interest paid annually on December 23, starting in 2026, based on a 30/360 day count. Beginning December 23, 2027 and on each June 23 and December 23 through June 23, 2030, the issuer may redeem the notes at par plus accrued interest.
The notes are unsecured obligations of JPMorgan Chase & Co., structurally junior to creditors of its subsidiaries and are not bank deposits or FDIC insured. Under the firm’s preferred “single point of entry” resolution strategy, losses in a stress scenario would be borne first by equity holders and then by unsecured creditors, including noteholders. The price to the public is $1,000 per note, with selling commissions up to $7.35 per $1,000 and total issuer proceeds of $13,145,550 before hedging and other costs. The notes are expected to be treated as fixed-rate debt for U.S. federal income tax purposes.
JPMorgan Chase Financial Company LLC is offering $315,000 of auto callable contingent interest notes linked to the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a monthly contingent coupon at a rate of 7.00% per annum if, on the relevant review date, the Index closes at or above 85% of its initial level. The notes are automatically called on quarterly review dates if the Index is at or above its initial level, with the earliest possible call on December 18, 2026. If the notes are not called and the Index finishes below 63% of its initial level at maturity, investors lose 1% of principal for each 1% Index decline and can lose their entire investment. The notes are unsecured, not FDIC insured, and the estimated value at pricing was $973.10 per $1,000 versus a $1,000 issue price, reflecting embedded fees and hedging costs.
JPMorgan Chase Financial Company LLC is offering $1,011,000 of capped notes linked to the least performing of the S&P 500 Index, the Russell 2000 Index and the Nasdaq-100 Index, maturing on December 21, 2029 and fully guaranteed by JPMorgan Chase & Co.
For each $1,000 note, investors receive full principal repayment at maturity, subject to the credit risk of the issuer and guarantor, plus an Additional Amount equal to 150% of the least performing index’s positive return, capped at $250 (a 25.00% maximum gain). If any index finishes at or below its initial level, no Additional Amount is paid and investors only receive principal back, with no adjustment for inflation.
The notes do not pay interest or dividends, are unsecured and unsubordinated, and will not be listed on any exchange, so liquidity will depend on dealer willingness to buy. The price to the public is $1,000 per note, including fees and structuring costs, while the estimated value at issuance is $943.70, reflecting internal funding and hedging assumptions. Tax treatment is expected to follow contingent payment debt instrument rules, requiring accrual of original issue discount over the life of the notes.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured Buffered Digital Notes linked to the least performing of the Dow Jones Industrial Average®, Russell 2000® Index and S&P 500® Index, maturing on January 14, 2027. The notes target a fixed contingent digital return of at least 5.15% per $1,000 at maturity if the final level of each index is at or above its initial level, or down by no more than the 30.00% buffer. If any index falls by more than 30%, principal is reduced 1% for each 1% drop beyond the buffer, with losses up to 70% of principal.
Investors receive no interest or dividends, and payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co. The preliminary estimated value is about $989.60 per $1,000 note and will not be less than $900. Key risks include market declines, exposure to small‑cap stocks via the Russell 2000®, limited liquidity, potential conflicts of interest, secondary prices below issue price, and uncertain U.S. tax treatment.
JPMorgan Chase Financial Company LLC is offering buffered digital notes linked to the least performing of the Dow Jones Industrial Average, the Russell 2000 Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on July 14, 2027 and are unsecured, unsubordinated obligations.
If the final level of the least performing index is at or above its initial level, or down by no more than 20.00%, investors receive a fixed Contingent Digital Return of 11.50%, or $1,115 per $1,000 note. If any index falls by more than 20.00%, principal is reduced 1% for each percentage point decline beyond the 20.00% buffer, up to an 80.00% loss. The indicative estimated value is about $987.90 per $1,000, and will not be less than $900 when set. The notes pay no interest, provide no index dividends, are not FDIC insured, will not be listed, and expose holders to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., as well as complex tax treatment.
JPMorgan Chase Financial Company LLC is offering buffered digital notes linked to the least performing of the Dow Jones Industrial Average®, the Russell 2000® Index and the S&P 500® Index, maturing April 14, 2027 and guaranteed by JPMorgan Chase & Co.
The notes target a fixed return of at least 7.80% at maturity per $1,000 note if the final level of the least performing index is at or above its initial level, or down by no more than 25.00%. In that case, investors receive $1,078 per $1,000 note, regardless of how far any index has risen within that range.
If any index ends more than 25.00% below its initial level, principal is exposed to losses on a one-for-one basis beyond the buffer, down to a minimum of $250 per $1,000 note, so up to 75.00% of principal can be lost. The notes pay no interest, do not provide index dividends, are unsecured, and depend on the credit of both JPMorgan Financial and JPMorgan Chase & Co. The estimated value is illustrated at approximately $988.80 per $1,000 note and will not be less than $900 at pricing.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering uncapped accelerated barrier notes linked to the least performing of the Dow Jones Industrial Average®, the Nasdaq-100 Index® and the S&P 500® Index, due January 4, 2030. The notes are expected to price on or about December 30, 2025 and settle on or about January 5, 2026, in minimum denominations of $1,000.
At maturity, if all three indices finish above their initial levels, investors receive $1,000 plus the least-performing index’s gain multiplied by an upside leverage factor of at least 1.5675. If any index finishes at or below its initial level but all remain at or above 70% of their initial values, principal is returned. If any index closes below this 70% barrier, repayment is reduced one-for-one with the decline of the least-performing index, and investors can lose more than 30% and up to all principal. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and their estimated value on the pricing date is expected to be below the $1,000 issue price, illustrated at approximately $967.30 and not less than $930.00 per $1,000 note.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering market-linked, auto-callable notes tied to the lowest performer of the S&P 500, Russell 2000 and Nasdaq‑100 indices, with principal at risk.
The notes have a $1,000 denomination and can be automatically called on January 5, 2027 if the lowest index is at or above its starting level, paying $1,090 per note, a fixed 9.00% call premium. If not called, the January 4, 2028 maturity payout depends on the worst index: leveraged upside at an upside participation rate of at least 112.50% if it rises, a positive “absolute return” up to 20% if it falls but not more than the 20% buffer, and 1‑for‑1 losses beyond that buffer, with investors potentially losing up to 80% of principal.
The notes pay no interest, are designed to be held to maturity, and have no exchange listing. The preliminary estimated value is approximately $963.80 per note and will not be less than $930.00, below the $1,000 price to public, reflecting selling commissions of $23.25 and hedging and structuring costs, as well as issuer and guarantor credit risk.
JPMorgan Chase Financial Company LLC is offering $900,000 of auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent coupon at a rate of 8.00% per annum, but only for review dates when the index closes at or above 56% of its initial level, and missed coupons can be paid later if conditions are again met.
The notes can be automatically called as early as December 18, 2026 if the index is at or above its initial value on certain review dates, returning $1,000 per note plus due interest. If held to maturity and not called, investors are protected only down to 85% of the initial index level; below that buffer, principal is reduced 1% for every additional 1% index loss, for up to an 85% loss of principal. The underlying index tracks leveraged exposure to the Invesco QQQ Trust with a 6.0% per annum daily deduction and a notional financing cost, which together create a persistent drag on index performance. The notes are unsecured obligations subject to the credit risk of both the issuer and the guarantor.