JPMorgan Chase Financial Company LLC is offering Auto Callable Accelerated Barrier Notes linked to the Class A common stock of Meta Platforms, Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a barrier feature and provide equity-linked exposure without dividends or interest.
The notes may be automatically called on August 12, 2027 if Meta’s share price is at or above the Call Value, paying $1,000 plus a Call Premium Amount of at least $291 per $1,000. If not called and Meta’s final price is above the initial price, investors receive $1,000 plus 1.25× the stock’s positive return. If the final price is at or above 80% of the initial price, principal is returned at maturity on August 9, 2029.
If the final price is below the 80% Barrier Amount, repayment is reduced 1% for every 1% decline from the initial price, and investors may lose most or all principal. The notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The estimated value is indicated as approximately $962.10 per $1,000 and will not be less than $900.00 per $1,000 at pricing.
JPMorgan Chase Financial Company LLC is offering $1,014,000 in Auto Callable Dual Directional Accelerated Barrier Notes linked to the lesser performing shares of The TJX Companies, Inc. and Target Corporation, due August 2, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes may be automatically called on August 4, 2027 if each stock is at or above its Call Value, paying $1,300 per $1,000 note. If not called, investors receive leveraged upside of 1.88x any appreciation of the lesser performing stock, or an absolute-return profile on declines up to 40%, provided each stock stays at or above 60% of its Initial Value. Below the Barrier Amount on either stock, principal is exposed one-for-one to the decline of the lesser performer and investors can lose their entire investment.
The price to the public is $1,000 per note, including $25 in fees and commissions, with net proceeds to the issuer of $975 per note. The estimated value at pricing was $948.20 per $1,000 note, reflecting embedded costs and hedging. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not be listed on any exchange, so liquidity may be limited.
JPMorgan Chase Financial Company LLC plans to issue Uncapped Dual Directional Accelerated Barrier Notes linked to the Nasdaq-100 Futures Excess Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on August 19, 2031 and are issued in $1,000 minimum denominations.
At maturity, if the Index has risen, investors receive $1,000 plus at least 1.70× the positive Index return. If the Index is flat or down but not below 60.00% of the Initial Value (the Barrier Amount), investors receive $1,000 plus the absolute Index loss, capped at a 40.00% gain, or $1,400 per $1,000 note.
If the Final Value is below the Barrier Amount, principal is reduced one-for-one with the Index loss, so investors can lose more than 40% and up to 100% of principal. The notes pay no interest, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., may be illiquid, and are expected to have an initial estimated value below the $1,000 issue price.
JPMorgan Chase Financial Company LLC is offering Medium-Term Notes, Series A Digital Equity Notes due May 11, 2028, linked to the S&P 500 Index, with each note having a $1,000 principal amount and a full guarantee from JPMorgan Chase & Co. The notes pay no interest and are not listed on any exchange.
At maturity, if the S&P 500 final level is at least 90.00% of its initial level, investors receive a fixed threshold settlement amount, expected to be $1,142.60–$1,167.70 per $1,000 (a capped return of about 14.26%–16.77%). If the index falls more than 10%, principal loss is leveraged: for each 1% decline beyond the 10% buffer, the loss is about 1.1111% of principal, up to total loss.
The initial estimated value is expected between $967.60 and $977.60 per $1,000, reflecting selling commissions, hedging costs and dealer profits; underwriting commissions are up to 1.29% of principal. Payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co., and the U.S. tax treatment is described as an “open transaction” prepaid financial contract, subject to IRS and Treasury guidance, including potential implications of Section 871(m) for non-U.S. holders.
JPMorgan Chase Financial Company LLC is offering Contingent Income Auto-Callable Securities due August 12, 2027, linked to the common stock of The Goldman Sachs Group, Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The securities pay a contingent quarterly coupon of at least $28.375 (2.8375% of $1,000) per security for each determination date on which Goldman Sachs’ stock closes at or above 65% of the initial stock price, the downside threshold level. Missed coupons do not accrue interest but may be paid later if conditions are met.
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 coupon and any unpaid prior coupons. If held to maturity and the final stock price is at or above the downside threshold, investors receive $1,000 plus the final coupon and any unpaid coupons. If the final stock price is below the downside threshold, repayment of principal is reduced 1-to-1 with the stock decline, resulting in a payment of $1,000 times the stock performance factor, which will be less than 65% of principal and could be zero. Investors do not participate in any upside of the stock and are exposed to the credit risk of JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering Contingent Income Auto-Callable Securities due August 10, 2029, linked to the common stock of Eli Lilly and Company. Each security has a $1,000 stated principal amount and is fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent quarterly coupon of at least $27.50 (2.75% of $1,000) per security on any determination date when Eli Lilly’s closing price is at or above 60% of the initial stock price, plus any unpaid prior coupons; no coupon is paid if the stock is below that downside threshold.
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 coupon and any unpaid coupons, and no further payments are made. If not called, and the final stock price is at or above the downside threshold, investors receive $1,000 plus the final coupon and any unpaid coupons at maturity. If the final stock price is below the downside threshold, repayment of principal is reduced 1‑for‑1 with the stock decline via the stock performance factor, so the maturity payment will be less than 60% of principal and could be zero, and investors do not participate in any stock appreciation.
The securities are unsecured obligations subject to the credit risk of JPMorgan Chase Financial and JPMorgan Chase & Co. Selling commissions are up to $17.50 and a structuring fee of $5.00 per $1,000 security. The estimated value would be approximately $961.70 per $1,000 security if priced on the date shown and will not be less than $940.00 on the pricing date.
JPMorgan Chase Financial Company LLC is offering Medium-Term Notes, Series A, Digital Equity Notes due August 7, 2028, linked to the Russell 2000® Index and fully guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and pays no interest.
At maturity, the cash payment depends on index performance from the trade date to August 3, 2028. If the final index level is at or above 85.00% of the initial level, investors receive a fixed threshold settlement amount, expected to be between $1,165.80 and $1,195.00 per $1,000 note, corresponding to a cap level expected between 116.58% and 119.50% of the initial level. If the index falls more than 15.00%, principal is lost on a leveraged basis at approximately 1.1765% for each 1% decline beyond the 15% buffer, down to a total loss.
The notes will not be listed, may have limited liquidity, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing is expected between $964.60 and $974.60 per $1,000, below the 100% issue price, reflecting selling commissions of up to 1.47% and hedging and structuring costs. U.S. tax treatment is uncertain and may be affected by future IRS or Treasury guidance.
JPMorgan Chase Financial Company LLC is offering Contingent Income Auto-Callable Securities due August 10, 2029, linked to the common shares of American Express Company. The $1,000 principal per security is at risk and payments depend on American Express’s share price.
Investors may receive a contingent quarterly payment of at least $27.75 (2.775% of principal) on each determination date if the stock closes at or above 75% of the initial stock price, the downside threshold level. If on any non-final determination date the stock closes at or above the initial stock price, the note is automatically redeemed for $1,000 plus that quarter’s contingent payment.
If not called and the final stock price is at or above the downside threshold, investors receive $1,000 plus the final contingent payment at maturity. If the final stock price is below the downside threshold, repayment of principal is reduced 1-to-1 with the stock decline (via the stock performance factor) and can be zero. Investors do not participate in any stock appreciation and are exposed to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering structured Auto Callable Notes linked to the J.P. Morgan Multi-Asset Index (ticker MAX), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on August 12, 2031 and are issued in $1,000 minimum denominations.
The notes pay no interest. On any of four Review Dates from 2027–2030, if the Index closing level is at or above the applicable Call Value (up to 101%–104% of the Initial Value), the notes are automatically called for $1,000 plus a Call Premium of at least 10.80%, 21.60%, 32.40% or 43.20% of principal, respectively. If not called, at maturity investors receive full principal plus an uncapped Additional Amount equal to $1,000 × Index Return × 100% Participation Rate, but not less than zero, providing full downside protection of principal at maturity, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
The Index is a rules-based, multi-asset, futures-based strategy subject to a 1.00% per annum daily deduction and a 4% target volatility mechanism, and can take notional long and short positions. If priced today, the estimated value would be approximately $932.20 per $1,000 note, with a final estimated value not less than $900.00, reflecting structuring and hedging costs. The notes will not be listed, may be illiquid, and are treated as contingent payment debt instruments for U.S. tax purposes.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Capped Accelerated Barrier Notes linked to the least performing of the Dow Jones Industrial Average, Russell 2000 Index and Nasdaq-100 Index, maturing on February 15, 2029, in $1,000 denominations.
At maturity, if all three indices finish above their initial levels, investors receive 2.60x any gain in the worst-performing index, capped at a 72.50% maximum return (maximum payment $1,725 per $1,000). If any index is at or below its initial level but all remain at or above 70.00% of initial, investors receive only principal back.
If any index closes below 70.00% of its initial level on the observation date, repayment is fully exposed to the decline in the least performing index, with losses matching its negative return and the potential for total loss of principal. The notes pay no interest or dividends, are unsecured and unsubordinated, and any payment depends on the credit of JPMorgan Financial and JPMorgan Chase & Co. The indicative estimated value is $983.50 per $1,000, and will not be less than $900 when finalized, reflecting embedded fees, hedging costs and dealer compensation of up to $9.50 per $1,000.