JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering structured notes that track the lesser performer of the Dow Jones Industrial Average and the S&P 500 Index, maturing in December 2027. The notes provide 1.25 times any positive return of the weaker index, capped at a Maximum Upside Return of at least 18.50%, and can also deliver a positive return if that index falls by up to the 20.00% buffer.
If either index declines by more than 20.00%, investors lose 1% of principal for each additional 1% decline, for a maximum loss of 80.00% of principal. The notes pay no interest or dividends, are unsecured and unsubordinated, are not listed on an exchange, and their value and repayment depend on the credit of JPMorgan Financial and JPMorgan Chase & Co. The preliminary estimated value is about $982.60 per $1,000 note, and the final estimated value will not be less than $900.00.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering callable contingent interest notes linked separately to the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index, maturing on November 24, 2027. Investors may receive monthly contingent interest at an annual rate between 10.25% and 12.25% if, on each review date, the closing level of every index is at least 70% of its initial value.
The issuer can redeem the notes early on specified interest payment dates, starting March 24, 2026, paying principal plus any due contingent interest. If held to maturity and each index finishes at or above its 70% trigger value, investors receive principal plus the final contingent interest payment; otherwise, repayment is reduced one-for-one with the decline of the worst-performing index, and the entire principal can be lost. The notes are unsecured obligations with an estimated value of about $967.60 per $1,000, not less than $900.00 at pricing, and do not pay dividends from the underlying indices.
JPMorgan Chase Financial Company LLC is offering unsecured, callable contingent interest notes linked individually 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 run to November 23, 2027 and pay a Contingent Interest Payment on each Review Date only if the closing level of every index is at or above 70% of its Initial Value, the Interest Barrier. The Contingent Interest Rate will be set between 8.50% and 10.50% per year on a monthly basis. The notes can be redeemed early at the issuer’s option on specified Interest Payment Dates starting March 23, 2026, which would stop further interest payments.
If the notes are not called and the Final Value of the Least Performing Index is below its Trigger Value (70% of its Initial Value), principal is reduced 1% for each 1% decline and can be fully lost. The notes do not pay fixed interest or dividends and do not participate in index gains. They are not listed, may have limited liquidity and secondary prices are expected to be below the $1,000 issue price. If priced today, the estimated value would be about $953.30 per $1,000 note and will not be less than $900.00 at pricing.
JPMorgan Chase Financial Company LLC plans to issue auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are scheduled to settle on or about December 23, 2025 and mature on December 23, 2030, in $1,000 minimum denominations.
The notes pay a contingent interest rate of at least 7.75% per annum, credited monthly, but only when the index closes at or above 80% of its initial level on a review date. Missed coupons can be paid later if the barrier is met, but investors may receive no interest for the entire term. The notes are automatically called, with principal plus due coupons, if on certain review dates the index is at or above its initial level; the earliest potential call date is December 18, 2026.
At maturity, if not called and the index is at or above 70% of its initial level, investors receive full principal back plus any due contingent interest. Below that 70% buffer threshold, principal is reduced 1-for-1 with index losses beyond the 30% buffer, up to a 70% loss. The underlying index is subject to a 6.0% per annum daily deduction and a notional financing cost, uses leverage up to 500%, and may lag a comparable undeducted index. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated value is indicated at about $913.30 per $1,000 note, and will not be less than $900.00 per $1,000 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 Nasdaq-100, Russell 2000 and S&P 500 indices, maturing in December 2030. The notes provide at least 1.63x participation in any positive performance of the weakest index at maturity, with no cap on upside.
If any index finishes below 70% of its initial level, investors lose 1% of principal for each 1% decline of the least performing index and could lose their entire investment. The notes pay no interest, provide no dividends, are unsecured obligations and carry the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. If priced on the date shown, the estimated value would be about $954.10 per $1,000 note and will not be less than $900.00 when finalized.
JPMorgan Chase Financial Company LLC is offering capped dual directional buffered equity notes linked to the lesser performer of the Nasdaq-100 Index® and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes provide unleveraged exposure to index moves over the term to June 23, 2028.
At maturity, investors receive upside if the lesser-performing index gains, capped at a Maximum Upside Return of at least 30.50%, and can also gain from index declines of up to a 15.00% drop via a dual-direction feature. If the lesser-performing index falls by more than 15.00%, principal is reduced 1% for each additional 1% decline, up to a loss of 85.00% of principal.
The notes do not pay interest or dividends and are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The preliminary estimated value, if priced on the reference date, would be about $960.30 per $1,000 note and will not be less than $900.00 per $1,000 note, reflecting embedded selling, structuring and hedging costs and the issuer’s internal funding rate.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Uncapped Accelerated Barrier Notes linked to the worst performer of the Nasdaq-100, Russell 2000 and S&P 500 indices, maturing on December 22, 2028.
The notes provide at least 1.61x any positive return of the least performing index if all three finish above their initial levels. If any index finishes at or below its initial level but all stay at or above 70% of initial value, investors receive only their principal back. If any index closes below 70% of its initial level, repayment is reduced one-for-one with the decline in the worst index, so investors can lose more than 30% and up to all of their principal.
The notes pay no interest, provide no dividends, are unsecured and unsubordinated obligations of JPMorgan Chase Financial and are subject to the credit risk of both the issuer and guarantor. They will not be listed on an exchange, and secondary market prices and the issuer’s estimated value (illustrated at about $967 per $1,000 face amount, and not less than $900) are expected to be below the original issue price.
JPMorgan Chase Financial Company LLC is offering Uncapped Accelerated Barrier Notes linked to the lesser performing of the Russell 2000 Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes target an uncapped payoff of at least 1.455 times any positive return of the weaker index at maturity. If both indices finish at or above 70% of their initial levels, investors receive at least their $1,000 principal per note; gains, if any, are based on the lesser performing index.
If either index finishes below the 70% barrier, principal is reduced 1% for each 1% decline of the lesser index, and investors can lose up to their entire investment. The notes pay no interest, provide no dividends, are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and are not bank deposits or FDIC insured. An indicative estimated value is about $968.80 per $1,000 note, and will not be less than $900.00 per $1,000 at pricing, reflecting selling commissions, hedging costs and issuer funding assumptions.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Payment for each Review Date only if every index closes at or above 70% of its Initial Value, and may be automatically called starting June 22, 2026 if each index is at or above its Initial Value.
The illustrative Contingent Interest Rate is 8.75% per annum (0.72917% per month), with the actual rate to be set between 8.75% and 10.75% per annum. Principal is at risk: if the notes are not called and the Final Value of the Least Performing Index is below its Trigger Value (70% of Initial Value), investors lose 1% of principal for each 1% decline, potentially up to a total loss. The estimated value would be about $964 per $1,000 note if priced today and will not be less than $900, reflecting embedded selling, structuring and hedging costs.
JPMorgan Chase Financial Company LLC is offering capped buffered return enhanced notes linked to the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes target 2.00x any positive Index return, subject to a maximum return between 10.00% and 14.00%, and provide a 10.00% downside buffer.
If the Index is flat or down by up to 10.00% at maturity, investors receive their $1,000 principal back per note. Losses begin if the Index falls more than 10.00%, with investors losing 1% of principal for each additional 1% Index decline, up to a maximum 90.00% loss.
The notes pay no interest, do not pass through S&P 500 dividends, and are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The preliminary estimated value is about $973.30 per $1,000 note and will not be less than $900.00 per $1,000 at pricing. The notes are expected to price around December 19, 2025 and mature on March 24, 2027.