JPMorgan Chase & Co. is offering callable fixed rate notes due June 12, 2034. The notes pay a fixed interest rate of 4.50% per annum, with interest paid annually on December 12, starting in 2026 and continuing to the maturity date, unless the notes are called earlier.
Beginning December 12, 2027, and on the 12th of March, June, September and December through March 12, 2034, JPMorgan may redeem the notes in whole 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.
The preliminary materials highlight resolution and bankruptcy risks, explaining that in a U.S. resolution scenario, holders of these notes rank behind creditors of JPMorgan’s subsidiaries and priority and secured creditors, and may recover only part or none of their principal and interest.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, guaranteed by JPMorgan Chase & Co. The notes can pay a high Contingent Interest Rate of at least 14.75% per annum, but only for Review Dates when the Index closes at or above 80% of its Initial Value, called the Interest Barrier.
The notes may be automatically called as early as November 30, 2026 if the Index is at or above its Initial Value on certain Review Dates, returning principal plus the applicable interest for that period. If not called and the Index falls more than 20% below its Initial Value at maturity, investors lose 1% of principal for each 1% drop beyond that buffer, up to an 80% loss.
The Index uses leveraged exposure (up to 500%) to the Invesco QQQ Trust, Series 1, but its performance is reduced by a 6.0% per annum daily deduction and a notional financing cost, which drag on returns. The indicative estimated value is about $952.40 per $1,000 note, and will not be less than $900.00, reflecting selling costs and hedging expenses. The notes are unsecured, subject to JPMorgan credit risk, pay no fixed interest or dividends, may be illiquid, and have complex U.S. tax treatment.
JPMorgan Chase Financial Company LLC is offering callable contingent interest notes linked to the Nasdaq-100, Russell 2000 and S&P 500, fully guaranteed by JPMorgan Chase & Co. Investors may receive monthly contingent interest payments only when the closing level of each index on a review date is at or above 70% of its initial value, and the illustrative contingent interest rate is 7.50% per annum (0.625% per month).
The notes can be called at the issuer’s option on specified interest payment dates starting in December 2026, which would stop any future interest. If the notes are not redeemed early and the least performing index finishes below its 65% trigger level at maturity, investors lose principal in line with the index decline and can lose their entire investment.
The estimated value, if priced on the example date, is $927.30 per $1,000 note, and the final estimated value will not be less than $900.00, reflecting embedded fees, hedging costs and the issuer’s internal funding rate. The notes are unsecured, not FDIC insured, and subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering Uncapped Buffered Return Enhanced Notes linked to the lesser performing of the Nasdaq-100 Index® and the S&P 500® Futures Excess Return Index, guaranteed by JPMorgan Chase & Co. The notes provide at least 2.00x any positive performance of the weaker index at maturity, with a 20.00% downside buffer. If either index falls more than 20.00%, investors lose 1% of principal for each additional 1% decline, up to a maximum loss of 80.00% of principal.
The notes pay no interest, are unsecured, and expose holders to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. If the notes priced on the date of the example, the estimated value would be approximately $971.80 per $1,000, and at pricing it will not be less than $940.00 per $1,000. The product embeds complex futures-based exposure, potential negative roll returns, limited liquidity, and uncertain tax treatment, making it suitable only for investors who understand structured derivatives and can hold to maturity.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the Dow Jones Industrial Average®, the Nasdaq-100® Technology Sector IndexSM and the Russell 2000® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes can pay a monthly Contingent Interest Payment at a rate of at least 9.00% per annum if on a Review Date each index closes at or above 75.00% of its Initial Value, and may be automatically called starting on May 26, 2026 if each index is at or above its Initial Value. If the notes are not called and the Least Performing Index finishes below its 70.00% Trigger Value, investors lose principal in line with the index loss and can lose their entire investment. The notes are unsecured, not FDIC-insured, have limited liquidity, an estimated value initially below the $1,000 price, and involve complex U.S. tax and withholding treatment, especially for Non‑U.S. Holders.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Capped Buffered Return Enhanced Notes linked to the Russell 2000® Index, maturing on December 9, 2027. The notes provide 2.00x any positive Index performance, but gains are capped at a maximum return of at least 29.15%, corresponding to a maximum payment of at least $1,291.50 per $1,000 note.
Principal is protected only up to a 10.00% decline in the Index; below that buffer, investors lose 1% of principal for each additional 1% Index loss, up to a maximum loss of 90.00%. The notes pay no interest, provide no dividends, and are unsecured, unsubordinated obligations subject to the credit risk of both issuers.
The preliminary estimated value is approximately $986.80 per $1,000 note and, when finalized, will not be less than $950.00, reflecting selling commissions, hedging costs and structuring margins included in the original issue price.
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 December 23, 2030. The notes can pay a monthly Contingent Interest Payment of at least $8.125 per $1,000 note (a rate of at least 9.75% per annum) if on a Review Date the Index is at or above 75% of its Initial Value, called the Interest Barrier.
The notes may be automatically called as early as December 18, 2026 if the Index is at or above its Initial Value on specified Review Dates, in which case investors receive $1,000 plus the applicable interest and no further payments. If the notes are not called and the Final Index Value is below 70% of the Initial Value, investors lose 1% of principal for each 1% decline beyond that buffer, up to a 70% loss of principal.
The Index itself is complex: it targets 35% implied volatility, can use up to 500% leverage to the QQQ Fund, and is reduced by both a 6.0% per annum daily deduction and a daily notional financing cost, which together drag on performance versus an equivalent index without these charges. The preliminary estimated value is about $913.10 per $1,000 note and will not be less than $900.00 per $1,000 at pricing, reflecting selling costs and hedging economics. Payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co., and the notes are unsecured, unsubordinated, and not FDIC insured.
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 December 24, 2030. The notes pay a monthly contingent interest rate of at least 11.00% per annum (at least $9.1667 per $1,000) only when the Index is at or above 70.00% of its Initial Value on a Review Date.
The notes can be automatically called starting on December 21, 2026 if the Index is at or above its Initial Value on specified Review Dates, returning $1,000 plus the applicable interest, with no further payments. At maturity, if not called and the Index is at or above the 70.00% Buffer Threshold, holders receive $1,000 plus the final contingent interest; otherwise, principal is reduced 1% for each 1% Index decline beyond the 30.00% buffer, with up to 70.00% principal loss.
The Index uses leveraged exposure (up to 500%) to the Invesco QQQ Trust, less a 6.0% per annum daily deduction and a notional financing cost, which drag on returns. The notes are unsecured obligations with an estimated value of about $941.60 per $1,000 if priced on the stated date and at least $900.00 at pricing, and are subject to the credit risk of both issuing and guaranteeing entities.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering structured Review Notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing on November 30, 2028. Each note has a $1,000 denomination and can be automatically called on scheduled Review Dates starting November 30, 2026 if the Index closes at or above 100% of its initial level, paying back $1,000 plus a call premium that starts at least 25.500% of principal and can reach at least 76.500% on the final Review Date.
If the notes are not called and the Index’s final level is at or above 75% of its initial level, investors receive their $1,000 principal at maturity. If the final level is below 75%, repayment is reduced one-for-one with the Index loss, and investors can lose all principal. The Index uses leveraged exposure of up to 500% to E-mini S&P 500 futures and is subject to a 6.0% per annum daily deduction, which drags performance. The estimated value is approximately $920 per $1,000 note on the trade date and will not be less than $900, and the notes pay no interest or dividends and are unsecured, uninsured obligations subject to JPMorgan credit risk.
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 9, 2027. These unsecured notes aim to pay 2.00x any positive S&P 500® return at maturity, up to a maximum return of at least 21.75%, corresponding to at least $1,217.50 per $1,000 note.
The structure includes a 10.00% downside buffer. If the Index is flat or down by up to 10%, principal is returned. If the Index is down by more than 10%, holders lose 1% of principal for each 1% decline beyond that buffer, up to a 90.00% loss of principal. The notes pay no interest and do not provide dividends or voting rights on S&P 500® stocks.
The preliminary estimated value is about $987.80 per $1,000 note and will not be less than $950.00, reflecting selling commissions, hedging costs and issuer funding spreads. The notes will not be listed on an exchange, and secondary prices are expected to be below the original issue price and influenced by many market and credit factors.