JPMorgan Chase & Co. is offering callable step-up fixed rate notes due December 15, 2043. The notes pay annual interest in arrears, starting at an interest rate of 5.20% per annum from December 15, 2025 to December 15, 2031, then 5.30% per annum to December 15, 2037, and 5.50% per annum to December 15, 2043.
The issuer may redeem the notes in whole on the 15th of March, June, September and December of each year from September 15, 2028 through September 15, 2043, at par plus accrued interest. Interest is calculated on a 30/360 day-count basis, with payments each December 15 beginning in 2026.
The price to the public is between $955.10 and $1,000 per $1,000 principal amount for eligible institutional and fee-based accounts, and selling commissions are expected to be about $19.00 and capped at $50.00 per $1,000. The notes are unsecured obligations of JPMorgan Chase & Co., subject to resolution risks under the Dodd-Frank Act, and are not bank deposits or FDIC insured.
JPMorgan Chase Financial Company LLC is offering Enhanced Trigger Jump Securities linked to a WTI crude oil futures contract, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a stated principal amount of $1,000 per security and an aggregate principal amount of $1,512,000, mature on February 22, 2027, and pay no interest.
At maturity, if the final futures contract price is at least 80% of the initial contract price of $58.06, investors receive $1,000 plus a fixed upside payment of $145.50 per security, a 14.55% return. If the final price is below the 80% trigger level, the payoff equals $1,000 multiplied by the ratio of final to initial price, so losses match the percentage decline and the payment can fall to zero. The estimated value on the pricing date is $952.20 per $1,000 note, and the securities will not be listed on any exchange.
JPMorgan Chase & Co. is offering callable fixed rate notes due December 12, 2050 as part of its Series E medium-term note program. The notes pay a fixed 5.40% per annum, with interest paid annually on December 12, beginning in 2026, calculated on a 30/360 basis at $1,000 × Interest Rate × Day Count Fraction per note.
JPMorgan may redeem the notes early, in whole but not in part, on the 12th day of March, June, September and December of each year, from December 12, 2029 through September 12, 2050, 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 disclosure highlights resolution and bankruptcy risks under Dodd-Frank “single point of entry” strategies, under which losses could be imposed on unsecured creditors, including holders of these notes, after equity and subject to priority and secured claims. Selling commissions are expected to be about $21.25 per $1,000 note and will not exceed $50.00 per $1,000 note, with certain eligible institutional or advisory accounts paying between $937.60 and $1,000 per $1,000 principal amount.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the common stock of Tesla, Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes can pay a contingent interest of at least 14.20% per annum, paid monthly, for any Review Date on which Tesla’s closing share price is at or above 50.00% of the Initial Value. Missed interest can be made up later if this barrier is met on a future Review Date.
The notes are automatically called, starting March 2, 2026, if Tesla’s share price on a Review Date (other than the first, second and final) is at or above the Initial Value, in which case investors receive $1,000 per note plus applicable interest and no further payments. If the notes are not called and the Final Value is below the 50.00% Trigger Value, the maturity payment is reduced one-for-one with Tesla’s decline and investors can lose more than half, up to all, of their principal.
The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial, subject to the credit risk of both the issuer and JPMorgan Chase & Co. The estimated value, if priced on the example date, would be approximately $956.20 per $1,000 note, and will not be less than $900.00 per $1,000 at pricing.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked individually to the Energy Select Sector SPDR Fund (XLE), the Nasdaq-100 Index (NDX) and the S&P 500 Index (SPX), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a monthly contingent coupon of at least 8.25% per annum (at least $6.875 per $1,000) only if on each Interest Review Date all three underlyings are at or above 70.00% of their Initial Values. Beginning December 7, 2026, the notes are automatically called quarterly if each underlying is at or above its Initial Value, returning $1,000 plus the applicable coupon.
If the notes are not called and, on the final Review Date in 2030, any underlying closes below 70.00% of its Initial Value, investors lose 1% of principal for each 1% decline in the least performing underlying and can lose their entire investment. The notes are unsecured, not FDIC insured, and their value is subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing would be approximately $922.40 per $1,000 note and will not be less than $900.00.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering Callable Range Accrual Notes linked to the 10-Year Constant Maturity Treasury (CMT) Rate, maturing on December 18, 2045. The notes pay a fixed 7.00% per annum during the Initial Interest Periods, with monthly interest payments starting January 18, 2026. After December 18, 2030, interest for each period ranges from 0.00% to 7.00% per annum and depends on how many days the 10-Year CMT Rate is at or below 5.00%.
Beginning December 18, 2030, the issuer may redeem the notes monthly at 100% of principal plus accrued interest. If priced on the date assumed in the document, the estimated value would be approximately $940.10 per $1,000 principal amount and, when finally set, will not be less than $910.00 per $1,000. The notes involve significant risks, including the possibility of 0% interest after the Initial Interest Periods, early redemption risk, limited liquidity, reliance on the calculation agent’s discretion for the 10-Year CMT Rate or any successor rate, and the fact that they are not bank deposits or insured by the FDIC.
JPMorgan Chase Financial Company LLC is offering $5,968,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Tech+ Vol Advantage Index, due November 26, 2030. The notes pay a contingent coupon of $8.125 per $1,000 (a 9.75% per annum rate, 0.8125% per month) for any Review Date when the Index closes at or above 75% of its Initial Value of 11,743.52. Missed coupons can be paid later if this barrier is met on a subsequent Review Date.
The notes can be automatically called, starting November 23, 2026, if on a Review Date (other than the first eleven and final dates) the Index is at or above its Initial Value, returning $1,000 plus due and unpaid coupons. If held to maturity and the Index is at or above 85% of its Initial Value, investors receive $1,000 plus the final and any unpaid coupons; below that level, principal is reduced 1% for each 1% decline beyond the 15% buffer, with up to 85% loss of principal possible. The notes are unsecured, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The underlying Index is reduced by a 6.0% per annum daily deduction and a notional financing cost, which drag on performance. The estimated value is $909.40 per $1,000, below the $1,000 issue price.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $3,870,000 of unsecured Callable Contingent Interest Notes linked to the Nasdaq‑100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index, maturing on October 26, 2027.
The notes pay a contingent coupon of 9.35% per year, paid monthly (about $7.79 per $1,000), but only if on each Review Date all three indices are at least 70% of their initial levels. The issuer can redeem the notes early, in whole, on most monthly payment dates starting February 26, 2026, at $1,000 per note plus any due coupon.
If the notes are not redeemed and at maturity any index is below 70% of its initial level, principal is reduced one‑for‑one with the decline of the worst‑performing index, and investors can lose more than 30% and up to all of their money. The notes are not listed, may be hard to sell, and were sold at $1,000 per note versus an estimated value of $953.90, reflecting fees, structuring and hedging costs.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $87,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing on November 26, 2030. The notes pay a contingent coupon of 10.50% per annum (2.625% per quarter), but only for review dates when the Index closes at or above 60.00% of the initial level; otherwise no interest is paid.
The notes are automatically called, starting November 23, 2026, if on certain review dates the Index closes at or above its initial level, returning $1,000 per note plus the applicable interest, with no further payments. If held to maturity and not called, principal is protected only if the final Index level is at or above 50.00% of the initial level; below that, repayment is reduced one-for-one with the Index decline, and investors can lose most or all of principal. The Index includes a 6.0% per annum daily deduction, which reduces its performance, and the estimated value of each $1,000 note at pricing was $886.90, below the $1,000 issue price.
JPMorgan Chase Financial Company LLC is offering $1,278,000 of uncapped digital barrier notes linked to the least performing of the Dow Jones Industrial Average®, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on November 27, 2028 and are issued in $1,000 minimum denominations.
At maturity, if each index finishes at or above its initial level, investors receive $1,000 plus the greater of a 30.80% contingent digital return or the actual percentage gain of the least performing index. If any index is below its initial level but all are at or above 70% of their initial values, investors receive only principal back. If any index ends below 70% of its initial value, repayment is reduced 1% for each 1% decline of the least performing index, down to a possible total loss.
The notes pay no interest, provide no dividends, and are unsecured obligations subject to the credit risk of both JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. The price to public is $1,000 per note, including $20 in fees and commissions, while the estimated value was $946.10 per $1,000 at pricing, and the notes are not expected to be listed on any securities exchange.