JPMorgan Chase Financial Company LLC is offering uncapped Dual Directional Buffered Return Enhanced Notes linked to the worst performer among the Dow Jones Industrial Average, the Russell 2000 Index and the S&P 500 Index, maturing on December 22, 2028 and fully guaranteed by JPMorgan Chase & Co.
At maturity, investors get at least 1.17x any positive return of the least performing index, or a capped positive return equal to the absolute value of any decline up to a 20% buffer. If the least performing index falls by more than 20%, principal is reduced 1% for each additional 1% drop, up to an 80% loss.
The notes pay no interest, pass through no dividends, and are unsecured obligations subject to the credit risk of both the issuer and guarantor. They will not be listed on an exchange, and any secondary market price from JPMS is expected to be below the $1,000 issue price, with an initial estimated value of about $963.30 per $1,000 and not less than $900.00 when finalized.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Capped Buffered Return Enhanced Notes linked to the S&P MidCap 400® Index, maturing on May 13, 2027. The notes provide 1.50x any positive index return at maturity, but gains are capped at a Maximum Return of at least 20.15%, equivalent to a maximum payment of at least $1,201.50 per $1,000 note.
On the downside, there is a 10% buffer: if the index falls by up to 10%, investors receive their $1,000 principal. If it falls by more than 10%, investors lose 1% of principal for each additional 1% decline, up to a maximum loss of 90% of principal. The notes pay no interest, do not pass through dividends from index constituents, and are unsecured, unsubordinated obligations of the issuer, subject to the credit risk of both the issuer and the guarantor.
The minimum denomination is $1,000, the notes are not expected to be listed on any exchange and may have limited or no secondary market liquidity. If priced on the date of the example, the estimated value would be approximately $994.10 per $1,000, and at pricing it will not be less than $970 per $1,000, reflecting structuring and hedging costs.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the common stock of Tesla, Inc., maturing in December 2027. The notes pay a contingent interest coupon on each quarterly Review Date only if Tesla’s share price is at or above 50% of the Strike Value, and any missed coupons are paid later if a subsequent Review Date meets that barrier.
The notes are automatically called, returning principal plus the applicable coupon, if Tesla’s share price on any non-final Review Date is at or above the Strike Value. If the notes are not called and Tesla’s final share price is below a 50% Trigger Value, investors lose 1% of principal for each 1% decline from the Strike Value and can lose their entire investment. A hypothetical contingent interest rate of 13.90% per annum (3.475% per quarter) is used in examples, and the estimated value is illustrated at about $958.70 per $1,000 face amount, not less than $930. Investors face the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., receive no Tesla dividends, and may face limited liquidity and complex U.S. tax treatment.
JPMorgan Chase Financial Company LLC is offering buffered digital dual directional notes linked to the Russell 2000 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes target a fixed Contingent Digital Return of at least 8.75% at maturity if the index finishes at or above its initial level.
If the index declines by up to the 15.00% buffer, investors receive a positive return equal to the absolute decline, up to a maximum total payment of $1,150 per $1,000 note when the index return is -15.00%. If the index falls by more than 15.00%, principal is reduced 1% for each additional 1% loss, with up to 85.00% of principal at risk. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and are not bank deposits or FDIC insured.
The notes are expected to price on or about December 10, 2025 and settle on or about December 15, 2025, with an observation date on January 11, 2027 and maturity on January 14, 2027. If priced today, the estimated value would be approximately $987.00 per $1,000 note and will not be less than $950.00 per $1,000 note when finalized.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto-callable structured notes linked to the MerQube US Tech+ Vol Advantage Index, designed for investors seeking equity-linked exposure with the possibility of early redemption at a premium.
The notes can be automatically called on scheduled Review Dates starting in December 2026 if the Index closes at or above 100% of its initial level, paying $1,000 plus a growing Call Premium Amount that reaches at least 81.25% of principal by the final Review Date. If the notes are not called and the Index is down by no more than the 15% Buffer Amount at maturity in December 2030, investors receive full principal back; if the decline exceeds 15%, repayment is reduced and investors can lose up to 85% of principal.
The underlying Index provides leveraged, rules-based exposure to the Invesco QQQ Trust, subject to a 6.0% per annum daily deduction and a notional financing cost, which together act as a persistent drag on performance and can cause the Index to lag a similar index without these charges. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and have an estimated value of about $908.10 per $1,000 principal (not less than $900.00) due to embedded costs and issuer funding assumptions.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, maturing on November 24, 2028. The notes pay a monthly contingent coupon of at least 8.25% per annum (0.6875% per month) only when the Index closes at or above 85% of its initial level, with missed coupons potentially paid later if the barrier is met on a future review date.
The notes can be automatically called as early as June 18, 2026 if the Index is at or above 95% of its initial level on designated review dates, returning principal plus due coupons and ending further payments. At maturity, if not called and the Index is at or above the 85% buffer threshold, investors receive principal plus due coupons; if it is below this level, principal is reduced, with up to 85% loss possible.
The Index applies a 6.0% per annum daily deduction and a notional financing cost on its QQQ Fund exposure, which drags performance and can cause the Index to lag similar strategies without these charges. The minimum denomination is $1,000, and the indicative estimated value is about $923 per $1,000 note, not less than $900, reflecting fees and hedging costs.
JPMorgan Chase Financial Company LLC is offering auto callable buffered return enhanced notes linked to the MSCI Emerging Markets Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called on December 9, 2026 if the Index is at or above the Call Value, paying $1,000 plus a Call Premium Amount of at least $110 per note, ending the investment early.
If not called and the Index finishes above its initial level at maturity in 2030, holders receive $1,000 plus 1.25 times any index gain. A 22.00% downside buffer protects principal against moderate declines, but if the Index falls by more than 22.00%, investors lose 1% of principal for each additional 1% drop, up to a maximum loss of 78.00%.
The notes pay no interest, provide no dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not be listed on any exchange. The estimated value discussed is approximately $972 per $1,000 note if priced on the reference date, and will not be less than $940 per $1,000 at pricing, reflecting embedded fees, hedging costs and dealer compensation. Key risks include emerging markets and currency exposure, limited liquidity, potential early call, tax uncertainty and conflicts of interest from JPMorgan’s multiple roles.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable accelerated barrier notes linked individually to the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, maturing on December 21, 2028.
The notes may be automatically called on Review Dates in December 2026 or December 2027 if each index is at or above 100% of its initial level, paying $1,000 plus a call premium of at least 12.30% or 24.60% of principal, respectively. If held to maturity and not called, investors receive 1.50 times the gain of the worst-performing index if all three finish above their initial levels, principal back if all stay at or above 70% of initial, and lose one-for-one with the worst index if any finish below the 70% barrier.
The notes pay no interest, provide no dividends, are unsecured obligations of JPMorgan Chase Financial and are subject to the credit risk of both the issuer and guarantor. A preliminary estimated value is illustrated at $939.90 per $1,000 note, and the final estimated value will not be less than $900.00 per $1,000 note. The notes will not be listed on any exchange, so liquidity may be limited and secondary market prices are expected to be below the issue price.
JPMorgan Chase Financial Company LLC is offering callable contingent interest notes linked to the Nasdaq-100® Technology Sector IndexSM, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Payment on each Review Date only if the closing level of each index is at least 75% of its Initial Value.
The Contingent Interest Rate will be at least 11.70% per annum
The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not insured by the FDIC, and will not be listed on any exchange. If priced today, the estimated value would be about $980 per $1,000 note and will not be less than $950 at pricing, reflecting selling commissions, hedging costs and issuer funding assumptions.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Uncapped Dual Directional Buffered Return Enhanced Notes linked to the least performing of the Dow Jones Industrial Average®, the Russell 2000® Index and the S&P 500® Index, maturing on June 24, 2027.
The notes provide at least 1.14x leveraged upside on any positive return if all three indices finish above their initial levels, and a positive return equal to the absolute decline of the weakest index for losses of up to the 10.00% buffer, capping gains at 10.00% in those down-but-buffered scenarios. If any index falls by more than 10.00%, principal is reduced 1% for each additional 1% drop in the least performing index, with up to 90.00% of principal at risk.
The notes pay no interest, do not provide dividends from index constituents, and will not be listed on an exchange, so liquidity depends on J.P. Morgan Securities LLC making a market. They are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Chase Financial and JPMorgan Chase & Co. The preliminary estimated value is approximately $959.30 per $1,000 principal amount note, and the final estimated value will not be less than $900.00 per $1,000 note.