JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering 3-year notes linked to the MerQube US Large-Cap Vol Advantage Index. The Index uses leveraged exposure, between 0% and 500% of E-Mini S&P 500 futures, and deducts a 6.0% per annum daily fee.
The notes have a minimum denomination of $1,000 and an estimated value, when set, of not less than $900 per $1,000 principal amount. They can be automatically called on annual review dates if the Index is at or above 100% of its initial level, paying back $1,000 plus a Call Premium of at least 26.25% per annum.
If not called and the final Index value is at or above 60.00% of its initial level, investors receive principal back at maturity. If the final value is below this barrier, repayment is reduced by the Index loss, and investors can lose more than 40% and up to all of their principal. Payments depend on the credit of both the issuer and the guarantor, and the notes pay no interest or dividends.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering 5-year structured notes linked to the MerQube US Tech+ Vol Advantage Index. The index provides rules-based exposure to an unfunded position in the Invesco QQQ Trust, Series 1, adjusted for a notional financing cost and a 6.0% per annum daily index deduction, with leverage that can range from 0% to 500% of the underlying asset.
The notes have a $1,000 minimum denomination and may be automatically called on annual review dates if the index closes at or above its initial level, paying back principal plus a call premium that will not be less than 24.00% per annum. If not called and the final index value is at or above 50% of the initial value, investors receive principal at maturity; if it is below this barrier, repayment is reduced by the full negative index return, and investors can lose some or all of their principal.
The estimated value at pricing will not be less than $900 per $1,000 note, reflecting internal funding and hedging costs. Payments depend on the credit of both the issuer and guarantor, and investors face risks including limited upside to the call premiums, no interest or dividends, potential illiquidity in any secondary market, complex index mechanics, leverage and volatility targeting features, and uncertain U.S. tax treatment.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering 3-year structured notes linked to the MerQube US Tech+ Vol Advantage Index, which references an unfunded total-return position in the Invesco QQQ Trust with a daily 6.0% per annum index fee and a notional financing cost. The notes may be automatically called on annual review dates if the index is at or above its initial level, paying back $1,000 per note plus a call premium that will be at least 26.25% per annum.
If the notes are not called and the final index value is at or above 60% of the initial value, investors receive their full principal at maturity; if it is below this barrier, repayment is reduced one-for-one with the negative index return and investors can lose more than 40% and up to all of their principal. The estimated value at pricing will be at least $900 per $1,000 note, reflecting internal funding assumptions and hedging costs, and all payments depend on the credit of both the issuer and guarantor.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering 5-year callable notes linked to the MerQube US Large-Cap Vol Advantage Index. The index provides rules-based exposure to E-Mini S&P 500 futures with a maximum futures exposure of 500% and includes a 6.0% per annum daily deduction.
The notes have a 50.00% barrier of the initial index value and are reviewed annually through a final review date of December 18, 2030, with maturity on December 23, 2030. If on any review date the index is at or above its initial level, the notes are automatically called and pay back principal plus a call premium of at least 24.00% per annum, increasing by at least 24.00% on each subsequent review date.
If the notes are not called and the final index value is at or above the barrier, investors receive principal back at maturity. If the final value is below the barrier, repayment is reduced one-for-one with the index decline, and investors can lose more than 50% and up to all of their principal. Payments depend on the credit of JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co., and the notes pay no interest, dividends or voting rights.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering 5-year review notes linked to the MerQube US Large-Cap Vol Advantage Index (MQUSLVA). The index uses a rules-based strategy on E-Mini S&P 500 futures with leverage up to 500% and applies a 6.0% per annum daily deduction.
The notes have a $1,000 minimum denomination and may be automatically called on annual review dates if the index is at or above its initial level, paying back principal plus a call premium of at least 27.75% per annum. If not called and the final index level is at or above 50.00% of its initial value, investors receive their principal at maturity.
If the notes are not called and the final index level is below the 50.00% barrier, repayment is reduced one-for-one with the index decline, and investors can lose most or all of their principal. The estimated value at pricing will not be less than $900 per $1,000 note. Payments depend on the credit of JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co., and the notes offer no interest, dividends, or voting rights.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering step-up auto callable notes linked to the S&P® Global 100 PR 5% Daily Risk Control 0.5% Deduction Index (USD) ER, expected to settle on or about December 23, 2025 and mature on December 23, 2032.
The notes can be automatically called as early as December 22, 2026 if the Index closes at or above preset call values, paying $1,000 per note plus a fixed call premium that steps up over six review dates. If not called, at maturity investors receive $1,000 per note plus any upside based on the Index return with a 100% participation rate, but no less than principal, all subject to the credit risk of the issuer and guarantor.
The Index targets 5% annualized volatility, applies daily notional financing costs and a 0.50% per annum deduction, and may often be significantly uninvested. The notes pay no interest or dividends, are unsecured, not FDIC insured, and may have limited liquidity. If priced today, the estimated value would be about $913.60 per $1,000 note and will not be less than $900.00 when finalized.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the lesser performance of the Russell 2000® Index and the S&P 500® Index, expected to mature on December 14, 2026. The notes can be automatically called on quarterly review dates starting March 2026 if both indices are at or above their initial levels, returning principal plus any due contingent interest.
The notes pay a contingent interest rate of at least 8.25% per annum, or at least 2.0625% per quarter, but only when the closing level of each index on a review date is at or above 60% of its initial value, which also serves as the trigger level. If a “Trigger Event” occurs (either index closes below 60% of its initial value on any day) and the lesser performing index finishes below its initial value at maturity, investors lose principal in line with that index’s decline, up to a total loss. The notes are unsecured, subject to the credit risk of both the issuer and guarantor, offer no upside participation in the indices, and will not be listed, so liquidity and secondary market pricing are important risks.
JPMorgan Chase Financial Company LLC is offering Capped Buffered Return Enhanced Notes linked to the Russell 2000 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes run to December 16, 2027 and are designed to pay 1.25 times any positive index return, up to a Maximum Return of at least 29.85%, which corresponds to a maximum maturity payment of at least $1,298.50 per $1,000 note.
If the index is flat or down by up to the 15.00% buffer, investors receive back their principal at maturity. If the index falls by more than 15.00%, investors lose 1% of principal for each additional 1% decline, for a potential loss of up to 85.00% of principal. The notes pay no interest or dividends, are unsecured obligations of JPMorgan Financial, and expose investors to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The preliminary estimated value is about $988.90 per $1,000 note and will not be less than $960.00 when finalized.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured Uncapped Accelerated Barrier Notes due December 8, 2028, linked to the lesser performer of the SPDR® S&P 500® ETF Trust and the Invesco QQQ TrustSM, Series 1. The notes are issued in $1,000 denominations and pay no interest or dividends.
At maturity, if both funds finish at or above their initial values, holders receive their principal plus at least 1.21× the percentage gain of the lesser performing fund. If either fund is at or below its initial value but both remain at or above 70% of their initial levels, investors receive only their principal back. If either fund finishes below 70% of its initial value, repayment is reduced 1% for every 1% decline of the lesser performing fund, potentially resulting in a total loss.
The notes carry the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The indicative estimated value is about $980 per $1,000 note today and will not be less than $950 per $1,000 at pricing, reflecting embedded selling, structuring and hedging costs and potential illiquidity in any secondary market.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable accelerated barrier notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500 indices, maturing on December 7, 2028. The $1,000-denomination notes may be automatically called on December 15, 2026 if each index is at or above its initial level, paying back principal plus a call premium of at least $250 per note.
If the notes are not called and all three indices finish above their initial levels, investors receive 1.50 times the gain of the worst-performing index at maturity. If any index ends at or below its initial level but at or above 80% of its initial level, principal is returned. If any index finishes below 80% of its initial level, repayment is reduced one-for-one with the decline in the worst index, and investors can lose all principal. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and the estimated value on pricing is expected to be below the $1,000 issue price.