JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $500,000 of Auto Callable Contingent Interest Notes linked to the Class C common stock of Dell Technologies Inc. The notes pay a monthly contingent coupon of 1.83333% (equivalent to 22.00% per annum) for any Review Date on which Dell’s share price is at or above the Interest Barrier of 60.00% of the Strike Value, or $70.44, with previously missed coupons paid later if the barrier is met.
The notes can be automatically called as early as December 22, 2025 if Dell’s share price is at least the Strike Value of $117.40, in which case investors receive $1,000 per note plus applicable coupons and no further payments. If the notes are not called and Dell’s final share price is below the Trigger Value (also 60.00% of the Strike Value), repayment of principal is reduced one-for-one with the stock’s loss, and investors can lose more than 40% or all of their principal. The price to public is $1,000 per note, with estimated value of $981.40, and the notes are unsecured, unsubordinated obligations subject to the credit risk of both the issuer and guarantor and will not be listed on an exchange.
JPMorgan Chase Financial Company LLC is offering $2,200,000 of Auto Callable Contingent Interest Notes linked to the common stock of Tesla, Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent monthly interest of 1.41667% (equivalent to 17.00% per annum) for each Review Date where Tesla’s closing price is at least 50.00% of the Initial Value, with missed interest potentially paid later if the barrier is met on subsequent dates.
The notes may be automatically called on specified Review Dates from May 21, 2026 onward if Tesla’s price is at or above the Initial Value, returning principal plus the applicable interest and any unpaid contingent interest, after which no further payments are made. If not called, investors receive full principal only if the Final Value is at or above the 50.00% Trigger; below this level, maturity payment is reduced one-for-one with Tesla’s decline, and investors can lose more than half or all of their principal.
The price to public is $1,000 per note, including $6 in selling commissions, while the estimated value at pricing is $976.60 per $1,000, reflecting embedded fees and hedging costs. The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., offer no dividends or equity rights in Tesla, are not exchange-listed, and may have limited or unfavorable secondary-market pricing.
JPMorgan Chase Financial Company LLC is issuing $1,089,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a monthly contingent coupon of 13.60% per annum (1.13333% per month) only when the Index is at or above 75% of its Initial Value, and can be automatically called quarterly starting November 23, 2026 if the Index is at or above its Initial Value.
The notes provide 15% downside buffer, but if the Final Value falls more than 15% below the Initial Value and the notes are not called, principal losses can reach up to 85%. The Index itself includes a 6.0% per annum daily deduction and a notional financing cost, which act as a drag on performance. The price to public is $1,000 per note, while the issuer’s estimated value is $908.70, and the notes are unsecured, unlisted and subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $437,000 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 quarterly contingent interest of $30.75 per $1,000 note (a 12.30% per annum rate) only if, on a Review Date, the Index closes at or above 60.00% of its Initial Value, set at 3,677.97.
The notes can be automatically called on any Review Date from November 23, 2026 onward (excluding the first three and final Review Dates) if the Index is at or above its Initial Value, returning $1,000 plus the applicable interest, with no further payments. At maturity, if not called and the Index is at or above the 60.00% Trigger Value, holders receive $1,000 plus the final interest; if it is below, repayment is reduced one-for-one with the Index loss, down to zero.
The underlying Index uses leveraged exposure to E-mini S&P 500 futures and is subject to a 6.0% per annum daily deduction, which creates a persistent drag on performance. The notes are unsecured, not FDIC insured, and carry the credit risk of both the issuer and guarantor. The price to public is $1,000 per note, with selling commissions of $42.50 and an estimated value at issuance of $901.00 per $1,000 note.
JPMorgan Chase Financial Company LLC is issuing $497,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Tech+ Vol Advantage Index, guaranteed by JPMorgan Chase & Co. The notes pay a monthly contingent interest rate of 8.50% per annum ($7.0833 per $1,000) only when the Index is at or above 70% of its initial level, and missed coupons can be paid later if the barrier is met.
The notes can be automatically called starting on November 23, 2026 if the Index is at or above 95% of its initial level, in which case investors receive $1,000 plus due and unpaid contingent interest and no further payments. At maturity on November 26, 2030, principal is protected only down to 85% of the initial Index level; below that, losses increase one-for-one, up to an 85% loss of principal.
The Index includes a 6.0% per annum daily deduction and a notional financing cost on its QQQ exposure, which drag on performance and make it lag a similar index without such charges. The notes are unsecured obligations exposed to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The price to public is $1,000 per note, with an estimated value of $910.90 per $1,000 at pricing.
JPMorgan Chase Financial Company LLC is issuing $620,000 of callable Review Notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes can be automatically called as early as November 25, 2026 if the Index is at or above the Call Value, paying $1,000 plus a call premium that steps up from 19.20% to 96.00% over 17 Review Dates.
If the notes are not called and the Final Value is at or above a 50.00% barrier, investors receive only their principal at maturity on November 26, 2030. If the Final Value is below the barrier, repayment is reduced 1-for-1 with the Index loss, with the potential for a total loss of principal. The Index includes a 6.0% per annum daily deduction that drags on performance, the notes pay no interest or dividends, and they involve the credit risk of both the issuer and guarantor. The price to public is $1,000 per note, while the estimated value at pricing was $884.50.
JPMorgan Chase Financial Company LLC is issuing $730,000 of auto callable contingent interest notes linked to the Nasdaq-100, Russell 2000 and S&P 500, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a monthly contingent coupon of 7.05% per annum (0.5875% per month) only if on each Interest Review Date all three indices are at or above 70% of their Initial Value. The notes are automatically called on certain quarterly dates if each index is at or above its Initial Value, returning principal plus that period’s interest.
If the notes are not called and any index finishes below its 70% Trigger Value at maturity on November 26, 2027, investors lose 1% of principal for each 1% decline of the worst-performing index and can lose their entire investment. The notes are unsecured obligations subject to the credit risk of both the issuer and guarantor. The price to public is $1,000 per note, including $27 in selling commissions, while the initial estimated value is $942.40 per $1,000 note.
JPMorgan Chase Financial Company LLC is issuing $41,510,000 of unsecured Market Linked Notes, fully and unconditionally guaranteed by JPMorgan Chase & Co., linked to an unequally weighted basket of five equity indices: EURO STOXX 50® (40%), Nikkei 225 (25%), FTSE® 100 (17.5%), Swiss Market Index (10%) and S&P/ASX 200 (7.5%).
The Notes have a 5‑year term, a $1,000 denomination and a 107.00% participation rate. At maturity, if the Basket Return is positive, holders receive $1,000 plus $1,000 × Basket Return × Participation Rate; if the Basket Return is zero or negative, holders receive only their $1,000 principal, with no upside. The Notes pay no interest, do not provide dividends from the indices, and will not be listed on an exchange.
Underwriters charge $35 per $1,000 in selling commissions, so net proceeds to the issuer are $965 per Note. The estimated value at pricing is $956.70 per $1,000, reflecting structuring and hedging costs. For U.S. tax purposes, the Notes are expected to be treated as contingent payment debt instruments, with a comparable yield of 4.59% and a projected single payment of $1,254.82 at maturity used solely for tax accrual calculations.
JPMorgan Chase Financial Company LLC is issuing $18,636,000 of Contingent Income Auto-Callable Securities due November 27, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked to the Class A common stock of Palantir Technologies Inc. and are principal at risk.
Investors may receive a contingent quarterly payment of $47.00 per $1,000 (4.70%) for each determination date on which Palantir’s closing price is at least the downside threshold of $77.425, equal to 50% of the $154.85 initial stock price. If on any non-final determination date the stock closes at or above the initial stock price, the notes are automatically redeemed for $1,000 plus the applicable contingent payment and any previously unpaid contingent payments.
If the notes are not called and the final stock price is at or above the downside threshold, investors receive $1,000 plus the final contingent payment and any unpaid prior contingent payments. If the final stock price is below the downside threshold, repayment of principal is reduced 1-to-1 with the stock decline, and the maturity payment will be less than 50% of principal and could be zero. The estimated value on the pricing date is $949.60 per $1,000 note, and the securities will not be listed on any exchange.
JPMorgan Chase Financial Company LLC is offering auto-callable Dual Directional Buffered PLUS linked to the iShares China Large-Cap ETF (FXI), with an aggregate principal amount of $9,019,000 and maturity on November 26, 2027. Each Buffered PLUS has a stated principal amount and issue price of $1,000, pays no interest and is fully and unconditionally guaranteed by JPMorgan Chase & Co., with principal at risk.
If, on the redemption observation date, FXI’s closing price is at or above the initial share price of $38.72, the notes are automatically redeemed for $1,133.00 per Buffered PLUS (113.30% of principal). If not called and FXI finishes above the initial price at maturity, investors receive principal plus 125% of FXI’s positive return. If FXI is flat or down by up to the 10.00% buffer, investors receive principal plus an equal positive return, capped at a 10% gain.
If FXI declines by more than 10.00% and the notes are not called, the payoff is reduced 1% for each 1% drop beyond the buffer, with a minimum payment of $100.00 per Buffered PLUS, meaning up to 90.00% of principal can be lost. The estimated value on the pricing date was $962.60 per $1,000 note, reflecting structuring, distribution and hedging costs, and the notes will not be listed on any exchange.