JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing Capped Buffer GEARS linked to the S&P 500 Index with a total offering of $2,320,800 and a price of $10 per Security. These two-year notes, maturing on December 15, 2027, offer leveraged upside: if the index return is positive, investors receive principal plus 2.0x the index gain, capped at a 22.65% maximum gain.
If the index return is zero or negative but the final level stays at or above 90% of the initial level (a 10% buffer), principal is repaid at maturity. If the index falls below this downside threshold, repayment is reduced by 1% for each 1% decline beyond the 10% buffer, with losses of up to 90% of principal possible. The Securities pay no interest, provide no dividends, and all payments depend on the creditworthiness of JPMorgan entities.
The minimum investment is $1,000 (100 Securities), and the estimated value at pricing was $9.961 per $10 Security, reflecting structuring and hedging costs.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering capped buffered return enhanced notes linked to the S&P 500® Index, maturing on December 31, 2026. The notes provide 2.00x any positive Index return, up to a Maximum Return of at least 11.20%, corresponding to a maximum payment at maturity of at least $1,112 per $1,000 note.
A 10.00% buffer protects principal against moderate Index declines, but if the Index falls by more than 10.00%, investors lose 1% of principal for each additional 1% drop, for up to a 90.00% loss at maturity. The notes pay no interest, provide no dividends from S&P 500 companies, are unsecured, and depend on the credit of both JPMorgan Financial and JPMorgan Chase & Co.
The preliminary estimated value would be approximately $995.30 per $1,000 note, and will not be less than $970.00 per $1,000 when set, reflecting structuring and hedging costs. Key risks include capped upside, significant downside beyond the buffer, limited liquidity, issuer credit risk, and tax treatment that remains subject to confirmation and potential future regulatory changes.
JPMorgan Chase Financial Company LLC is offering principal-at-risk Jump Securities with an auto-callable feature due January 5, 2032, linked to the worst performer of the EURO STOXX 50, S&P 500 and TOPIX indices. The notes may be automatically redeemed on scheduled determination dates if each index closes at or above its initial level, paying an early redemption amount per $1,000 that starts at least at $1,130 and steps up by at least 3.25% per period to at least $1,747.50.
If not called and all final index values are at or above their initial levels, investors receive a maturity redemption payment of at least $1,780 per $1,000, corresponding to approximately 13.00% per year. If any index finishes below its initial level but all remain at or above 80% of initial (the downside threshold), only principal is returned. If any index ends below its downside threshold, repayment is reduced one-for-one with the worst index’s decline and can be zero.
The issue price is $1,000 per security, including a $30 selling commission and $5 structuring fee, for $965 in proceeds to the issuer. The preliminary estimated value is about $945.20 per $1,000, and will not be less than $910 at pricing. The securities are unsecured obligations of JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., are not FDIC insured, and involve market, credit, liquidity, tax and conflict-of-interest risks described in the risk discussions.
JPMorgan Chase Financial Company LLC is offering auto‑callable structured “Review Notes” linked to the lesser performing of the Russell 2000 Index and the EURO STOXX 50 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price on or about December 18, 2025 and mature on December 23, 2030, in minimum denominations of $1,000.
The notes do not pay interest or dividends and expose holders to the credit risk of both the issuer and guarantor. Starting June 18, 2026, if on any Review Date the closing level of each index is at or above 100% of its initial level, the notes are automatically called for $1,000 plus a call premium that steps up from at least 5.50% to at least 55.00% of principal, ending the investment early. If not called, and on the final Review Date each index is at or above 75% of its initial level, investors receive principal back; otherwise, the payoff is $1,000 plus $1,000 times the return of the lesser performing index, so losses can exceed 25% and reach total principal loss. The estimated value is approximately $950 per $1,000 note and will not be less than $920.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Capped Dual Directional Buffered Equity Notes linked to the S&P 500® Index and maturing in December 2027. The notes are designed for investors seeking capped, unleveraged exposure to index gains or to the absolute value of modest index declines, with a Maximum Upside Return of at least 13.90% and a 15.00% downside buffer.
At maturity, investors receive $1,000 plus the Index Return, capped at a payment of at least $1,139.00 per $1,000 if the index rises, or plus the Absolute Index Return when the index is flat or down by up to 15.00%, for a maximum $1,150.00 per $1,000 in that scenario. If the index falls by more than 15.00%, principal is reduced one-for-one beyond the buffer, with losses up to 85.00% of principal. The notes pay no interest, do not provide dividends, are not FDIC insured or exchange-listed, and their value depends on the credit risk of the issuer and guarantor. If priced today, the estimated value would be about $962.50 per $1,000 principal amount, and the final estimated value will not be less than $900.00 per $1,000.
JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., is offering structured “Review Notes” linked to the Nasdaq-100 Index®, EURO STOXX 50® Index and S&P 500® Index, scheduled to mature on January 3, 2031. The notes can be automatically called on review dates starting January 4, 2027 if each index closes at or above 100.00% of its initial level, returning the $1,000 principal per note plus a call premium that ranges from 10.00% to 55.00%, depending on the review date.
If the notes are not called and the final level of each index is at least 70.00% of its initial level, holders receive their $1,000 principal at maturity. If any index finishes below 70.00%, repayment is reduced based on the least performing index return, so investors will lose more than 30.00% of principal and could lose the entire $1,000.
The notes do not pay interest or dividends, are unsecured and unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not be listed on an exchange. The price to public is $1,000 per note, while the estimated value would be approximately $932.40 per $1,000 note if priced on the indicated date and will not be less than $910.00 per $1,000 note, reflecting built-in selling, structuring and hedging costs.
JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., is offering unsecured structured “review notes” linked to the least performing of the S&P 500 Equal Weight Index, the Russell 2000 Index and the State Street Energy Select Sector SPDR ETF. The notes run to December 17, 2029, in minimum denominations of $1,000.
The notes can be automatically called on scheduled review dates starting December 16, 2026 if each underlying is at or above its call value, repaying $1,000 plus a call premium that begins at least 12.55% and can reach at least 50.20% on the final review date. If never called and the least performing underlying finishes below 70% of its strike value, investors lose principal one-for-one with the decline and could lose their entire investment. The indicative estimated value is about $971.50 per $1,000 note and will not be less than $940 when terms are finalized.
JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the Nasdaq-100, Russell 2000 and S&P 500 indexes, maturing on July 6, 2028.
The notes can pay quarterly contingent coupons at a rate between 8.75% and 9.75% per year, but only if on a review date all three indexes close at or above 80.00% of their initial levels; if any index is below that barrier, no interest is paid for that quarter. Starting June 30, 2026, the notes are automatically called if on a review date all indexes are at or above their initial levels, returning $1,000 per note plus that period’s coupon.
If the notes are not called and on the final review date any index closes below 75.00% of its initial level, investors lose 1% of principal for each 1% decline in the worst-performing index and can lose their entire investment. The notes are unsecured, not listed on any exchange, and their estimated value would be about $953.70 per $1,000 (and at pricing will not be less than $930.00).
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the Class A common stock of CrowdStrike Holdings, Inc. The notes pay a Contingent Interest Payment of at least $48.125 per $1,000 note on each Interest Payment Date if the CrowdStrike share price on the related Review Date is at or above an Interest Barrier set at 70% of the Initial Stock Price. Missed coupons can be made up later if a subsequent Review Date meets the barrier.
If on any non-final Review Date the CrowdStrike share price is at or above the Initial Stock Price, the notes are automatically called, and holders receive $1,000 plus the applicable interest and any unpaid prior interest. At maturity on December 31, 2026, if the notes are not called and the Final Stock Price is at or above the 70% Trigger Level, investors receive $1,000 plus applicable interest; if the Final Stock Price is below the Trigger Level, principal is reduced 1% for each 1% stock decline, up to total loss of principal. The notes are unsecured, not FDIC insured, and if priced today would have an estimated value of about $976.10 per $1,000, with a minimum estimated value at pricing of $960. For Non-U.S. Holders, a 30% U.S. withholding tax on Contingent Interest Payments is expected, subject to treaty relief, and Section 871(m) is expected not to apply, although the IRS could disagree.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering structured “Review Notes” linked to the least performing of the Dow Jones Industrial Average®, the Russell 2000® Index and the Nasdaq‑100® Technology Sector IndexSM, maturing on December 24, 2030. The notes can be automatically called on scheduled Review Dates starting December 23, 2026 if each index closes at or above 100% of its initial level, paying back principal plus a call premium that starts at 10.5% of principal and can reach at least 52.5% on the final Review Date.
If the notes are not called and each index finishes at or above a 70% barrier of its initial level, investors receive only their principal at maturity. If any index ends below its barrier, repayment falls in line with the worst index’s percentage loss and investors can lose more than 30% and up to all of their principal. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and are expected to have an initial estimated value of about $950.90 per $1,000 principal (not less than $900 when set).