JPMorgan Chase Financial Company LLC is offering $3,110,000 of contingent income callable securities due December 14, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co. These notes pay a contingent quarterly coupon of $25.75 per $1,000 (2.575%) only if, on each day in a quarter, the Nikkei 225, S&P 500 and Russell 2000 all close at or above 70% of their initial levels. If any index closes below its coupon barrier on any day in a period, no coupon is paid for that quarter.
JPMorgan may, at its discretion, redeem the notes on any coupon date (except the final one) for $1,000 plus any due coupon. If the notes are not redeemed and, at maturity, every index is at or above 65% of its initial level, investors receive $1,000 per note (plus the final coupon if the barrier is met throughout the last period). If any index is below its downside threshold at maturity, the payoff is reduced 1-for-1 with the worst index and can fall to zero, meaning a full loss of principal. The securities are unsecured, will not be listed on an exchange, and had an estimated value of $951.20 per $1,000 on the pricing date, below the $1,000 issue price.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $2,138,000 of Auto Callable Accelerated Barrier Notes linked to the S&P 500® Futures Excess Return Index, maturing on December 15, 2032. Each note has a $1,000 denomination and pays no interest.
The notes may be automatically called on December 16, 2026 if the index is at or above the Call Value, returning $1,000 plus a $167.50 call premium per note. If not called and the index is above its initial level at maturity, holders receive 2.0x the index gain; if the index is between 70% and 100% of its initial level, only principal is repaid. If the index finishes below 70% of its initial level, principal loss is 1:1 with the index decline and can reach a total loss.
The notes are unsecured, unsubordinated obligations subject to the credit risk of both the issuer and guarantor. The estimated value at pricing was $964.10 per $1,000 note, below the issue price, reflecting selling commissions, hedging costs and issuer funding assumptions, and secondary market liquidity may be limited.
JPMorgan Chase Financial Company LLC is issuing $319,000 of structured “Review Notes” linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes can be automatically called as early as December 14, 2026 if the Index closes at or above 100% of its initial level, paying $1,000 plus a preset Call Premium Amount per note.
If the notes are never called, investors receive full principal at maturity in December 2032 only if the Index has fallen by no more than 20%. If it is down by more than 20%, the payoff is reduced dollar-for-dollar with Index losses beyond that buffer, and investors can lose up to 80% of principal. The Index includes a 6.0% per annum daily deduction and a notional financing cost on the QQQ Fund, which drag on performance. The notes pay no interest or dividends, are unsecured obligations, and priced at $1,000 per note with an estimated value of $901.40.
JPMorgan Chase Financial Company LLC is offering two series of Trigger Autocallable Contingent Yield Notes, fully and unconditionally guaranteed by JPMorgan Chase & Co. One $1,464,000 issuance is linked to the Class A common stock of Snap Inc., and another $1,872,000 issuance is linked to the Class B common stock of United Parcel Service, Inc.; both are scheduled to mature on December 14, 2026 unless called earlier.
The Snap-linked Notes pay a potential contingent coupon at a rate of 17.25% per annum with an Initial Value of $7.92 and a Downside Threshold and Coupon Barrier of $3.96 (50.00% of the Initial Value. The UPS-linked Notes pay a potential contingent coupon at 11.50% per annum with an Initial Value of $96.97 and a Downside Threshold and Coupon Barrier of $67.88 (70.00% of the Initial Value). Coupons are paid only if the underlying stock closes at or above its Coupon Barrier on quarterly Observation Dates, and the Notes are automatically called if the underlying closes at or above its Initial Value.
If the Notes are not called and the Final Value is at or above the Downside Threshold, investors receive their principal plus the applicable final coupon; if the Final Value is below the Downside Threshold, repayment is reduced in proportion to the stock’s decline, and investors can lose a significant portion or all of their principal. The Notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not insured by any governmental agency, will not be listed on an exchange, and have complex U.S. federal income tax treatment, with contingent coupons expected to be treated as ordinary income.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $250,000 of Auto Callable Contingent Interest Notes linked to the Class A common stock of Palantir Technologies Inc., maturing on June 15, 2027. The notes are issued in $1,000 denominations at a price to public of $1,000, with selling fees of $22.25 per note and net proceeds of $977.75 per note. They pay a contingent coupon of $16.2917 per month per $1,000 (a 19.55% per annum rate) only if Palantir’s share price on a review date is at or above 60% of the initial value of $187.91. The notes are automatically called, starting March 10, 2026, if Palantir’s share price on an eligible review date is at or above the initial value, returning $1,000 plus that period’s coupon.
If the notes are not called and Palantir’s final share price is at or above 50% of the initial value, investors receive $1,000 plus the final coupon; if it is below 50%, repayment is reduced one-for-one with the stock’s loss, and investors can lose most or all principal. The estimated value at pricing was $956.40 per $1,000, below issue price, and investors bear JPMorgan credit risk and limited liquidity, with no stock dividends or voting rights.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the Dow Jones Industrial Average®, Russell 2000® Index and S&P 500® Index, maturing on December 15, 2027. The notes can pay a quarterly contingent coupon of at least 8.85% per annum (at least $22.125 per $1,000) if on a Review Date each index is at or above 75.00% of its initial level. Beginning with the June 9, 2026 Review Date, the notes are automatically called if all three indexes are at or above their initial levels, returning $1,000 plus the applicable coupon.
If the notes are not called and on the final Review Date any index closes below 75.00% of its initial level, principal is reduced one-for-one with the decline of the worst-performing index, and investors can lose more than 25% and up to all of their investment. The notes pay no fixed interest, offer no participation in index gains or dividends, and are unsecured obligations subject to the credit risk of both JPMorgan Chase Financial and JPMorgan Chase & Co. The preliminary estimated value is approximately $960 per $1,000 note and will not be less than $940.
JPMorgan Chase Financial Company LLC is offering unsecured “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, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called as early as December 16, 2026 if each underlying is at or above its Call Value, paying back $1,000 per note plus a Call Premium Amount starting at at least 12.55% of principal and rising to at least 50.20% on the final Review Date. If not called, investors receive principal at maturity only if each underlying finishes at or above 70.00% of its Strike Value; otherwise, the payoff is reduced one-for-one with the decline of the least performing underlying, and investors can lose more than 30% and up to all of their capital. The notes pay no interest or dividends, have minimum denominations of $1,000, and expose holders to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The indicative estimated value is approximately $971.50 per $1,000 note and will not be less than $940.00 when finalized.
JPMorgan Chase & Co. is offering callable step-up fixed rate notes maturing on December 23, 2043. The notes pay annual interest in arrears each December 23 at fixed rates that increase over time: 5.30% per annum from December 23, 2025 to December 23, 2031, 5.40% per annum from December 23, 2031 to December 23, 2037, and 5.50% per annum from December 23, 2037 to December 23, 2043.
Beginning September 23, 2028, and then on the 23rd of March, June, September and December through September 23, 2043, the issuer may redeem the notes 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. In a resolution of JPMorgan Chase & Co. under U.S. bankruptcy or Title II proceedings, losses would be borne first by equity holders and then by unsecured creditors, including holders of these notes.
The indicative price to the public is $1,000 per $1,000 principal amount, with eligible institutional or fee-based accounts paying between $955.10 and $1,000. If priced on the indicated date, selling commissions would be approximately $20.50 per $1,000 principal amount, not to exceed $50.00 per $1,000. The issuer’s tax counsel expects the notes to be treated as step-up fixed-rate debt instruments issued without original issue discount.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $1,015,000 of market-linked, principal-at-risk notes tied to the lowest performing of the S&P 500® Index and the EURO STOXX 50® Index, maturing December 14, 2028. Each security has a $1,000 principal amount.
The notes pay no interest and do not guarantee full principal repayment. They may be automatically called on December 15, 2026 if the lowest performing index is at or above its starting level, in which case investors receive $1,174.00 per security (a 17.40% call premium). If not called, at maturity investors get upside equal to 150% of any index gain, full principal back if the lowest index stays at or above 75% of its starting level, and one-for-one losses if it falls below that threshold, potentially losing all principal. The estimated value at pricing was $957.70 per $1,000 security, reflecting embedded fees, hedging costs and dealer compensation.
JPMorgan Chase Financial Company LLC is offering $3,740,000 of Uncapped Accelerated Barrier Notes due December 14, 2028, linked to the least performing of the Dow Jones Industrial Average®, the Russell 2000® Index and the S&P 500® Index. At maturity, investors earn 1.78 times any positive return of the worst-performing index, with no cap, if all three finish at or above their initial levels.
If any index finishes below its initial level but all stay at or above 70% of their initial levels, investors receive only their principal back. If any index closes below 70% of its initial level, principal is reduced 1% for each 1% decline of the least performing index, down to a possible total loss. The notes pay no interest or dividends, are unsecured and unsubordinated obligations of JPMorgan Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., and are not FDIC insured. The price to public is $1,000 per note, while the estimated value at pricing is $981.40.