Every 424B that JPMorgan Chase & Co. (JPM) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow JPM and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full JPM filings page.
JPMORGAN CHASE & CO (JPM), via JPMorgan Chase Financial Company LLC, is offering auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The total offering is $572,000, in $1,000 denominations, maturing on August 19, 2032.
Investors receive a 17.70% per annum Contingent Interest Rate, paid monthly (1.475% per month) only when the index closes at or above 70% of the Initial Value. The notes auto-call quarterly from August 16, 2027 if the index is at or above the Initial Value, paying $1,000 plus the applicable interest.
If not called, at maturity investors receive $1,000 per note if the final index level is at or above the 50% Trigger Value, plus any last contingent interest. If the final level is below the Trigger Value, repayment is reduced 1:1 with the index decline, and principal loss can reach 100%. The underlying index is a leveraged, volatility-targeting E-mini S&P 500 futures strategy with a 6.0% per annum daily deduction, which drags performance. The notes are unsecured and subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing was $922.20 per $1,000 note, below the issue price due to fees, hedging and funding costs.
JPMorgan Chase & Co. (JPM), via JPMorgan Chase Financial Company LLC, is issuing $734,000 of unsecured, auto-callable structured notes due August 17, 2029, linked individually to the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index and fully guaranteed by JPMorgan Chase & Co.
The notes may be automatically called on any of nine Review Dates starting August 18, 2027 if each index is at or above 100% of its Initial Value, paying $1,000 principal plus a Call Premium Amount that steps up from 12.60% to 37.80%. If not called and, on the final Review Date, each index is at or above 70% of its Initial Value (the Barrier Amount), investors receive principal only.
If the Final Value of any index is below its Barrier Amount at maturity, the payoff is $1,000 plus $1,000 times the Least Performing Index Return, leading to losses greater than 30% and up to a full loss of principal. The notes pay no interest or dividends, are subject to the credit risk of both the issuer and guarantor, are not exchange-listed, and have an estimated value of $951.80 per $1,000 at pricing, below the $1,000 issue price.
JPMorgan Chase & Co. (JPM), via JPMorgan Chase Financial Company LLC, is issuing auto callable accelerated barrier notes linked to the least performing of the Dow Jones Industrial Average, Nasdaq-100 Index and Russell 2000 Index, maturing on August 17, 2029 and fully guaranteed by JPMorgan Chase & Co.
The total offering is $1,063,000, in $1,000 denominations. The notes may be automatically called on August 20, 2027 if each index is at or above its Call Value, paying principal plus a fixed $212.50 call premium per note. If not called and all indices end above their initial levels, investors receive 1.5 times the gain of the least performing index; if any index finishes between its initial level and 70% barrier, only principal is repaid. If any index ends below its 70% barrier, repayment is reduced one-for-one with the loss on the least performing index, potentially to zero.
The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of both JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co., are not exchange-listed, and the estimated value at pricing was $959 per $1,000 note, below the issue price.
JPMorgan Chase & Co. (JPM), via JPMorgan Chase Financial Company LLC, is offering $1,159,000 of structured Auto Callable Contingent Interest Notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing August 19, 2032 and fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a contingent coupon of 18.00% per annum (1.50% monthly) only when, on each monthly Interest Review Date, the Index is at or above 70% of its Initial Value (the Interest Barrier). Quarterly Autocall Review Dates can trigger automatic redemption at $1,000 per note plus the applicable coupon if the Index is at or above the Initial Value; the earliest possible call date is February 16, 2027.
If not called, principal is protected only if the Final Index Value is at or above 50% of the Initial Value (the Trigger Value). If the Final Value is below the Trigger Value, maturity payment is $1,000 plus $1,000 × Index Return, exposing investors to a loss of up to 100% of principal. The underlying Index employs up to 500% futures leverage and is subject to a 6.0% per annum daily deduction, which materially drags performance. The notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., are not bank deposits, and are not FDIC insured.
JPMORGAN CHASE & CO (JPM), through JPMorgan Chase Financial Company LLC, is offering structured notes titled Uncapped Accelerated Barrier Notes linked to the lesser performing of the Dow Jones Industrial Average and the S&P 500 Index, maturing August 19, 2031. The total offering is $787,000, in minimum denominations of $1,000 per note. At maturity, if both indices finish at or above 70% of their initial levels, investors receive at least their principal; if the lesser-performing index is above its initial level, the payoff is leveraged at 1.245x that index’s gain. If either index ends below 70% of its initial value, principal is reduced one-for-one with the decline of the lesser-performing index, potentially to zero.
The notes pay no interest or dividends, are unsecured obligations of JPMorgan Chase Financial Company LLC and are fully and unconditionally guaranteed by JPMorgan Chase & Co., subject to their credit risk. The price to public is $1,000 per note, including selling commissions of $41.25, while the issuer’s estimated value at pricing was $944.50, reflecting embedded costs and hedging. The notes will not be listed, and secondary market prices are expected to be below the original issue price.
JPMORGAN CHASE & CO (JPM), via JPMorgan Chase Financial Company LLC, is offering $623,000 of Auto Callable Contingent Interest Notes linked to the lesser of the Nasdaq-100 Index and the S&P 500 Index, due May 18, 2028, in $1,000 denominations and fully guaranteed by JPMorgan Chase & Co.
The notes pay a 9.40% per annum Contingent Interest (0.78333% monthly) only on Review Dates when both indices are at least 70% of their Initial Value; otherwise no interest is paid. Starting August 16, 2027, if on a Review Date (other than the first through eleventh and final) both indices are at or above their Initial Values, the notes are automatically called for $1,000 plus that period’s interest. If not called and on the final Review Date either index is below its Trigger Value (70% of Initial), the maturity payment becomes $1,000 plus $1,000 times the return of the lesser performing index, so investors can lose a substantial portion or all of principal. The notes are unsecured, not FDIC insured, may be illiquid, and have an estimated value of $983.60 per $1,000 at pricing, below the issue price due to embedded costs.
JPMorgan Chase & Co. (JPM), via JPMorgan Chase Financial Company LLC, is offering $1,663,000 of unsecured Callable Contingent Interest Notes linked to the Nasdaq‑100 Index®, Russell 2000® Index and S&P 500® Index, maturing February 17, 2028 and fully guaranteed by JPMorgan Chase & Co.
The notes pay a contingent interest rate of 8.75% per annum (0.72917% monthly) only for Review Dates when the closing level of each index is at or above 60% of its Initial Value (the Interest Barrier). JPMorgan may redeem the notes early on specified interest payment dates starting November 19, 2026, returning $1,000 plus any due contingent interest.
If held to maturity and not redeemed early, investors receive $1,000 plus the final contingent interest if the Final Value of every index is at or above its 60% Trigger Value; otherwise, the payoff is $1,000 plus $1,000 times the return of the Least Performing Index, exposing investors to loss of up to their entire principal. The price to public is $1,000 per note, with an estimated value of $982.20, reflecting embedded fees, commissions and hedging costs. The notes will not be listed, may have limited liquidity, and are subject to the credit risk of both JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co.
JPMorgan Chase & Co. (JPM), via JPMorgan Chase Financial Company LLC, is offering structured Capped Dual Directional Buffered Equity Notes linked to the least performing of the Dow Jones Industrial Average, Russell 2000 Index and S&P 500 Index, maturing on August 17, 2028. The total offering is $740,000 in $1,000 denominations at a price to public of $1,000 per note, with underwriting fees of $6.50 and issuer proceeds of $993.50 per note.
The notes provide unleveraged exposure with a Maximum Upside Return of 19.80% and a 30.00% Buffer Amount. If the least performing index ends above its initial level, returns track that index up to the cap; if it ends down but within the buffer, investors receive the absolute value of the decline, up to a maximum of $1,300 per $1,000 note. Below the buffer, principal is reduced one-for-one, with up to 70.00% principal loss. The estimated value is $986.80 per $1,000 note, below the issue price, and the notes pay no interest or dividends, are unsecured, unlisted, and subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase & Co. (JPM), via JPMorgan Chase Financial Company LLC, is offering $1,415,000 of Capped Dual Directional Buffered Equity Notes linked to the S&P 500® Index, due August 17, 2028 and fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes provide unleveraged exposure to S&P 500 performance: investors receive index upside at maturity up to a Maximum Upside Return of 19.05%, and, if the index is flat or down by up to a 20.00% Buffer Amount, a positive return equal to the index’s absolute loss. Below the 20% buffer, principal is exposed 1:1 and investors can lose up to 80.00% of principal.
The notes are issued in $1,000 minimum denominations at $1,000 price to public, with selling commissions of $9 per note and issuer proceeds of $991 per note, or $1,402,265 in total. The estimated value at pricing was $985.70 per $1,000 note, reflecting selling, structuring and hedging costs. The notes pay no interest or dividends, are unsecured, will not be listed, and their value and payment at maturity depend on S&P 500 performance and the credit of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase & Co. (JPM), via JPMorgan Chase Financial Company LLC, is offering $3,406,000 of unsecured Review Notes due August 19, 2031, linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index. The notes may be automatically called on annual Review Dates starting August 18, 2027 if each index is at or above its Call Value (100% of its Initial Value), paying back $1,000 plus a Call Premium that steps from 11.75% on the first Review Date up to 58.75% on the final Review Date.
At maturity, if not called and each index is at or above its Barrier Amount (70% of Initial Value), investors receive principal back. If any index is below its Barrier, the payoff is $1,000 plus $1,000 times the Least Performing Index Return, so losses exceed 30% and can reach 100% of principal. The notes pay no interest or dividends, are not FDIC insured, and expose investors to the credit risk of JPMorgan Chase Financial Company LLC and the guarantee of JPMorgan Chase & Co. The price to public is $1,000 per note, including fees of $40.75, while the issuer’s estimated value is $939.10 per $1,000 note.
JPMORGAN CHASE & CO (JPM), via JPMorgan Chase Financial Company LLC, is offering $868,000 of unsecured, unsubordinated structured notes linked to the MerQube US Tech+ Vol Advantage Index, maturing August 19, 2031, with an automatic call feature starting August 18, 2027.
The notes pay no interest or dividends. If on any Review Date the Index closes at or above the Call Value, the notes are automatically called at $1,000 plus a fixed Call Premium Amount that steps up from 10% to 50% of principal over 49 Review Dates. If held to maturity and not called, principal is protected only down to a 15% Buffer Amount; beyond that, investors lose 1% of principal for each additional 1% Index decline, up to an 85% loss.
The Index employs up to 500% leveraged exposure to the Invesco QQQ Fund with a 35% target volatility, is subject to a 6.0% per annum daily deduction and a daily notional financing cost, all of which drag on performance. The price to public is $1,000 per note; selling commissions are $41.50 per note, and proceeds to the issuer are $958.50 per note. The estimated value at pricing was $908.90 per $1,000, below issue price, and payments are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase & Co. (JPM), through issuer JPMorgan Chase Financial Company LLC, is offering $648,000 of structured Callable Contingent Interest Notes linked to the lesser performance of the Nasdaq-100 Index® and the S&P 500® Index, maturing on August 17, 2029 and callable at the issuer’s option starting August 19, 2027.
The notes pay a 10.70% per annum Contingent Interest only on Review Dates when the closing level of each index is at least 85.00% of its Initial Value (the Interest Barrier). Principal is protected only by a 15.00% Buffer: if not called and either index finishes below its Buffer Threshold, investors lose 1% of principal for each 1% decline beyond 15%, up to an 85.00% loss.
The notes are unsecured, unsubordinated obligations of JPMorgan Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., and are subject to both entities’ credit risk. The price to public is $1,000 per note, including $5 in fees; the issuer’s estimated value is $976.20 per $1,000, reflecting embedded costs and hedging margins. The notes will not be listed, may have limited secondary liquidity, and do not pay dividends or provide direct index participation.
JPMorgan Chase & Co. (JPM), through JPMorgan Chase Financial Company LLC, is offering $22,605,000 of unsecured Capped Buffered Return Enhanced Notes linked to the S&P 500® Index, maturing August 15, 2028, at $1,000 per note. The notes provide 2.00x any positive Index performance at maturity, capped at a maximum return of 21.30% (maximum payment $1,213 per $1,000).
A 15.00% buffer applies: if the Index is down by up to this amount, investors receive principal back; below that level, they lose 1% of principal for each additional 1% Index decline, down to a minimum of $150 (an 85.00% loss). The notes pay no interest or dividends, are not FDIC-insured, and are subject to the credit risk of both the issuer and JPMorgan Chase & Co. The price to public is $1,000 with estimated value $989.50 per note after selling commissions and structuring/hedging costs.
JPMORGAN CHASE & CO (through JPMorgan Chase Financial Company LLC) is offering $1,695,000 of unsecured Callable Contingent Interest Notes linked separately to the Russell 2000® Index and the S&P 500® Index, maturing August 19, 2031, in minimum denominations of $1,000. The notes pay a 7.00% per annum Contingent Interest only for Review Dates when each index closes at or above 70.00% of its Initial Value (the Interest Barrier). The issuer may redeem the notes early, in whole, on certain Interest Payment Dates beginning August 19, 2027.
If not redeemed early, principal is protected only down to a 15.00% Buffer Amount: if the Final Value of either index is below 85.00% of its Initial Value (the Buffer Threshold), investors lose 1% of principal for each 1% decline beyond that level, up to a maximum loss of 85.00%. Price to public is $1,000 per note, including selling commissions of $37.50, for net proceeds of $962.50 per note and total proceeds of $1,631,437.50 to the issuer; the estimated value at pricing was $943.80 per $1,000. The notes are fully and unconditionally guaranteed by JPMorgan Chase & Co. and expose investors to the credit risk of both the issuer and guarantor, no dividend rights, potential illiquidity, and the risk that no interest is ever paid.
JPMorgan Chase & Co. (JPM), via JPMorgan Chase Financial Company LLC, is offering structured “Buffered Digital Notes” linked to the lesser performer of the Nasdaq‑100 Index® and the S&P 500® Index, maturing August 17, 2028 and fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes have a fixed digital payoff of 16.45% at maturity if the final level of the lesser performing index is at or above its initial level, or down by up to the 20.00% Buffer Amount. In that case, investors receive $1,164.50 per $1,000 note. If either index falls more than 20%, principal is exposed to one‑for‑one losses beyond the buffer, down to a minimum of $200 per $1,000 (an 80% loss) if the lesser index goes to zero.
The offering size is $765,000, priced at $1,000 per note, with selling commissions of $17.50 per note and net proceeds of $751,612.50 to the issuer. The estimated value at pricing was $971.10 per $1,000 note, below the issue price due to selling, structuring and hedging costs. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., will not be listed, and may be difficult to sell before maturity.
JPMorgan Chase & Co. (JPM), through JPMorgan Chase Financial Company LLC, is issuing auto callable accelerated barrier notes linked to the least performing of the Dow Jones Industrial Average, Nasdaq‑100 Index and Russell 2000 Index, maturing August 19, 2031 and fully guaranteed by JPMorgan Chase & Co.
The notes have a single review date on August 20, 2027; if on that date each index is at or above its Call Value, the notes are automatically called and investors receive $1,000 plus a fixed call premium of $230 per note, with no further payments. If not called, at maturity investors get (a) 2.0 times any positive return of the least performing index, (b) par if all indices are at or above a 70% barrier of initial levels, or (c) full downside to the least performing index if any index finishes below its barrier.
The offering totals $2,937,000 in principal, priced at $1,000 per note, with estimated value at issuance of $976.20 per $1,000. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., are not bank deposits, and will not be listed, so liquidity may be limited. Investors face potential loss of some or all principal, as well as structural, market, credit, tax and secondary‑market pricing risks.
JPMorgan Chase & Co. (JPM), via JPMorgan Chase Financial Company LLC, is offering $2,791,000 of Uncapped Accelerated Barrier Notes linked to the lesser of the Dow Jones Industrial Average and the S&P 500 Index, maturing August 17, 2029, in $1,000 denominations. The notes provide 1.26x upside participation in the lesser-performing index at maturity with no cap, but pay no interest or dividends and expose investors to partial or total principal loss. If either index finishes below its 80% Barrier Amount, repayment is reduced 1% for each 1% decline of the lesser-performing index from its initial level, down to zero. The notes are unsecured obligations of JPMorgan Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., and are subject to both entities’ credit risk. The price to public is $1,000 per note, including selling commissions of $25 and a structuring fee of $6.50 per $1,000 on most notes; the issuer’s estimated value is $961.30 per $1,000, reflecting embedded costs and hedging assumptions. The notes will not be listed, so liquidity will rely on JPMS making a market, and secondary prices are expected to be below the issue price.
JPMorgan Chase & Co. (JPM), through JPMorgan Chase Financial Company LLC, is issuing $1,870,000 of unsecured callable contingent interest notes linked to the Nasdaq‑100 Index®, Russell 2000® Index and S&P 500® Index, maturing February 17, 2028 and fully guaranteed by JPMorgan Chase & Co.
The notes pay a 7.85% per annum Contingent Interest Payment (0.65417% monthly) only on Review Dates when the closing level of each index is at least 65.00% of its Initial Value (the Interest Barrier). The issuer may redeem the notes early on certain Interest Payment Dates beginning November 19, 2026 at $1,000 plus any due contingent interest.
If not redeemed early and the Final Value of any index is below its 65.00% Trigger Value, principal is reduced one-for-one with the decline of the Least Performing Index, potentially to zero. The price to public is $1,000 per note, including $22.25 in fees and commissions, while the issuer’s estimated value is $967.30 per $1,000, reflecting embedded costs and hedging economics.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Auto Callable Buffered Equity Notes linked to the EURO STOXX 50® Index. Each note has a $1,000 denomination and a term to August 17, 2028, with potential automatic call on August 27, 2027 if the Index is at or above the Initial Index Level of 6,539.59. If called, investors receive $1,000 plus an 11.66% call premium.
If not called and the Ending Index Level is at or above the Initial Index Level, investors receive uncapped upside equal to the Index Return, subject to a Contingent Minimum Return of 23.32% (at least $1,233.20 per $1,000 note). If the Index declines by up to the 15.00% Buffer Amount, principal is returned at maturity. For declines beyond 15%, losses are magnified by a Downside Leverage Factor of 1.17647, so some or all principal can be lost. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and have an estimated value of $980.20 per $1,000 at pricing, below the issue price.
JPMorgan Chase & Co. (JPM), through its finance subsidiary JPMorgan Chase Financial Company LLC, is issuing $639,000 of unsecured Digital Barrier Notes linked to the lesser performing of the Dow Jones Industrial Average and the S&P 500 Index, maturing on February 17, 2028 and fully guaranteed by JPMorgan Chase & Co.
The notes pay a fixed 10.75% return at maturity (total payment $1,107.50 per $1,000) only if on the observation date each index is at least 65% of its initial level; otherwise, principal is reduced 1% for each 1% decline in the lesser-performing index, with the potential for 100% loss.
The minimum denomination is $1,000. The price to the public is $1,000 per note, including $7.25 in selling commissions, for net proceeds of $992.75 per note and an estimated value of $991. The notes pay no interest, provide no dividends, are not exchange‑listed, and are subject to the credit risk of both the issuing subsidiary and JPMorgan Chase & Co.
JPMorgan Chase & Co. (JPM), through JPMorgan Chase Financial Company LLC, is offering $9,476,000 of Capped Buffered Return Enhanced Notes linked to the S&P 500® Index, maturing on August 25, 2027, and fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes provide 2.00x exposure to any S&P 500 appreciation at maturity, up to a maximum return of 12.10% (maximum payment of $1,121 per $1,000). A 10.00% downside buffer protects principal only against moderate losses; below that, investors lose 1% of principal for each additional 1% Index decline, up to a 90.00% loss (minimum payment $100 per $1,000).
The notes pay no interest and pass through no S&P 500 dividends, are unsecured and unsubordinated obligations of JPMorgan Financial, and are subject to the credit risk of both the issuer and JPMorgan Chase & Co. Minimum denomination is $1,000. The estimated value at pricing was $995.10 per $1,000 note, reflecting structuring and hedging costs and an internal funding rate, and secondary market prices are expected to be below the issue price and may be illiquid.
JPMORGAN CHASE & CO (JPM), through JPMorgan Chase Financial Company LLC, is offering callable structured notes linked to the MerQube US Tech+ Vol Advantage Index, maturing August 26, 2031. The notes may be automatically called quarterly starting August 25, 2027 if the Index closes at or above a Call Value, paying $1,000 principal plus a call premium that starts at 12.35% and can reach at least 61.75% of principal on the final review date.
Principal is protected only by a 15% downside buffer at maturity; if the Index is down more than 15% and the notes were never called, investors lose 1% of principal for each additional 1% Index decline, up to an 85% loss. The Index embeds a 6.0% per annum daily deduction and a notional financing cost (SOFR + 0.50%), so it is expected to trail an otherwise similar index without these charges and can decline even when the underlying QQQ Fund strategy is mildly positive. Exposure to QQQ can range from 0% to 500%, targeting 35% implied volatility, which introduces leverage and potential “volatility drag.” The notes are unsecured obligations of JPMorgan Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., and any payments depend on their credit. An initial estimated value of about $910.30 per $1,000 note (not less than $900.00) is below the issue price, reflecting fees, hedging costs and dealer margin.
JPMORGAN CHASE & CO (JPM), via JPMorgan Chase Financial Company LLC, is offering $200,000 of auto callable contingent interest notes linked individually to the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, maturing August 17, 2028 and fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a 10.55% per annum Contingent Interest Rate (0.87917% per month) only on Review Dates when the closing level of each index is at or above 70% of its Initial Value (the Interest Barrier). From August 16, 2027, the notes are automatically called if, on a Review Date (other than the first through eleventh and final), each index is at or above its Initial Value, returning $1,000 plus that period’s contingent interest.
If not called, and on the final Review Date any index is below its 70% Trigger Value, principal is reduced 1% for each 1% decline of the Least Performing Index versus its Initial Value, potentially to zero. The notes are unsecured, not FDIC insured, and subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The estimated value is $983.10 per $1,000 note, below the $1,000 issue price, reflecting selling costs and hedging economics.
JPMorgan Chase & Co. (JPM), through JPMorgan Chase Financial Company LLC, is offering Buffered Digital Notes due September 29, 2027 linked to the worst performer of the Nasdaq‑100® Technology Sector, the Russell 2000® Index and the S&P 500® Index. The notes pay no coupons or dividends and are unsecured, unsubordinated obligations of JPMorgan Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co.
At maturity, for each $1,000 note, holders receive principal plus a fixed Contingent Digital Return of at least 7.45% (total payment at least $1,074.50) if the least performing index is at or above its initial level, or down by up to the 30% Buffer Amount. If any index falls more than 30%, repayment is reduced 1% for each 1% decline beyond the buffer, with a maximum loss of 70% of principal (minimum payment $300). An indicative estimated value is $989.80 per $1,000 note if priced today, and will not be less than $900.00 at pricing. The notes will not be listed, may have limited or no secondary liquidity, and their value and payments are subject to the credit risks of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase & Co. (JPM), through JPMorgan Chase Financial Company LLC, is offering unsecured Auto Callable Contingent Interest Notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing on August 22, 2033, in minimum denominations of $1,000.
The notes pay a monthly Contingent Interest Payment only when the Index is at or above 70% of the Strike Value (the Interest Barrier); the annual Contingent Interest Rate will be at least 18.00%. The notes are automatically called quarterly if the Index is at or above the Strike Value, with the earliest call on February 17, 2027. Principal is at risk: if not called and the Final Value is below 50% of the Strike Value (the Trigger Value), repayment is reduced 1:1 with the Index loss, potentially to zero.
The Index employs leverage up to 500% and is subject to a 6.0% per annum daily deduction, which drags performance relative to a similar index without the fee. If priced today, the estimated value would be about $930 per $1,000 note and will not be less than $900 at pricing, reflecting selling costs and hedging. Payments depend on the credit of JPMorgan Financial and its parent guarantor.
JPMORGAN CHASE & CO (JPM), through JPMorgan Chase Financial Company LLC, is offering unsecured, unsubordinated structured "Review Notes" due August 31, 2033, linked to the MerQube US Tech+ Vol Advantage Index and fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay no interest and can be automatically called as early as August 27, 2027 if the Index closes at or above the Call Value on a Review Date, returning $1,000 plus a Call Premium Amount based on a Call Premium Rate of at least 20.80%. If not called and the Final Index Value is below the Barrier Amount, investors lose 1% of principal for each 1% Index decline, potentially losing their entire investment.
The Index dynamically allocates to an unfunded position in the Invesco QQQ Trust (QQQ) with a 35% target volatility, leverage between 0% and 500%, a 6.0% per annum daily deduction and a daily notional financing cost, all of which create a performance drag versus a similar index without such charges. If priced today, the estimated economic value would be about $925.20 per $1,000 note and will not be less than $900.00 at pricing, reflecting selling, structuring and hedging costs. Credit risk of both the issuer and guarantor, limited liquidity and multiple conflicts of interest are highlighted.
JPMorgan Chase & Co. (JPM), via JPMorgan Chase Financial Company LLC, is offering unsecured, unsubordinated structured notes linked to the Dow Jones Industrial Average®, the Nasdaq-100 Index® and the VanEck® Gold Miners ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a monthly Contingent Interest Payment only if on each Review Date the closing value of every Underlying is at or above 70.00% of its Initial Value (the Interest Barrier). The Contingent Interest Rate will be at least 13.50% per annum, paid at 1.125% per month, but interest is not guaranteed.
Starting on December 2, 2026, JPMorgan Financial may redeem the notes early on any eligible Interest Payment Date if each Underlying is at or above its Interest Barrier, paying $1,000 plus the Contingent Interest Payment per note. If the notes are not redeemed and on the final Review Date any Underlying is below 60.00% of its Initial Value (the Trigger Value), holders receive $1,000 plus $1,000 × Least Performing Underlying Return, risking significant or total principal loss. If each Final Value is at or above its Trigger Value, principal is repaid and the final Contingent Interest Payment, if due, is paid.
The minimum denomination is $1,000. If priced today, the estimated value would be about $949.00 per $1,000 note, and at issuance it will not be less than $900.00 per $1,000 note, reflecting embedded selling, structuring and hedging costs. The notes are not bank deposits, are not FDIC-insured, will not be listed on an exchange and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase & Co. (JPM), through JPMorgan Chase Financial Company LLC, is offering capped dual directional buffered return enhanced notes linked to the least performing of the Dow Jones Industrial Average®, the Russell 2000® Index and the S&P 500® Index, maturing November 30, 2027. The notes are unsecured senior obligations of JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay no interest and do not provide dividends. At maturity, investors receive leveraged upside of 1.25x any positive return of the least performing index, capped by a Maximum Upside Return of at least 23.10%. If the worst-performing index is flat or down by up to the 15.00% Buffer Amount, investors receive a positive return equal to the absolute decline (up to 15%). If any index falls by more than 15%, principal is reduced 1% for each 1% decline beyond 15%, for a maximum loss of 85.00% of principal.
Denomination is $1,000 per note. If priced on the reference date, the estimated value would be about $988.60 per $1,000 note, and the final estimated value will not be less than $900.00, reflecting selling commissions, hedging costs and issuer funding assumptions. The notes will not be listed, and secondary market prices are expected to be below the issue price and sensitive to JPMorgan’s credit, market factors and internal funding rates.
JPMorgan Chase & Co. (JPM), via JPMorgan Chase Financial Company LLC, is offering $1,715,000 of unsecured Auto Callable Contingent Interest Notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing August 19, 2031. Minimum denomination is $1,000, priced at 100% of principal with $9 in fees per note.
The notes pay a 12.30% per annum contingent coupon (1.025% monthly) only when the Index is at or above 65% of its Initial Value on a Review Date; missed coupons can be paid later if the barrier is met. The notes are automatically called (no further payments) if, from August 16, 2027 onward, the Index is at or above its Initial Value on specified Review Dates.
If not called, principal is protected only if the Final Index Value is at least 50% of the Initial Value; otherwise, repayment is reduced one-for-one with the Index decline, potentially to zero. The underlying Index employs up to 500% futures leverage and is subject to a 6.0% per annum daily deduction, which materially drags performance. The estimated value is $930.70 per $1,000 note at pricing, reflecting selling costs and issuer funding assumptions. Payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co. and there is no listing or guaranteed secondary market.
JPMorgan Chase & Co. (JPM), via JPMorgan Chase Financial Company LLC, is offering $1,279,000 of unsecured callable contingent interest notes linked individually to the Nasdaq‑100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, maturing July 19, 2028 and guaranteed by JPMorgan Chase & Co.
The notes pay a contingent interest rate of 8.25% per annum (0.6875% monthly) only if, on a Review Date, each index is at or above its Interest Barrier of 70% of its Initial Value; otherwise no interest is paid. The issuer may redeem the notes early on specified interest payment dates, first eligible on November 19, 2026, paying $1,000 plus any due contingent interest.
If not redeemed early, principal repayment depends on the Least Performing Index. If, on the final Review Date, each index is at or above its Trigger Value of 60% of its Initial Value, investors receive $1,000 plus any final contingent interest. If any index is below its Trigger Value, repayment is $1,000 plus $1,000 times the Least Performing Index return, leading to loss of more than 40% and up to 100% of principal.
The price to public is $1,000 per note, including up to about $21.25 in selling commissions; proceeds to the issuer are approximately $978.8331 per $1,000. The estimated value is $960.50 per $1,000 at pricing, reflecting internal funding and hedging costs, and may be lower than secondary market prices for a limited initial period. The notes lack liquidity, are not FDIC insured, and expose investors to the credit risk of both JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co.
JPMorgan Chase & Co. (through JPMorgan Chase Financial Company LLC) is offering structured Auto Callable Contingent Interest Notes due August 31, 2028, linked to the MerQube US Tech+ Vol Advantage Index. Investors may receive a monthly Contingent Interest Payment only when the Index on a Review Date is at or above 70% of its Initial Value (the Interest Barrier). The notes can be automatically called as early as August 30, 2027 if, on certain Review Dates, the Index is at or above its Initial Value, in which case investors receive $1,000 plus the applicable interest and no further payments.
Capital is at risk: if the notes are not called and the Final Index Value is below the 85% Buffer Threshold, principal is reduced 1% for each 1% decline beyond the 15% Buffer Amount, up to an 85% loss of principal. The notes pay no fixed interest and offer no participation in Index upside beyond contingent coupons. The Index itself is reduced by a 6.0% per annum daily deduction and a daily notional financing cost, and may employ up to 500% leverage, which can magnify losses. The indicative Contingent Interest Rate is at least 12.80% per annum, and the estimated value is about $960.80 per $1,000, not less than $900 at pricing, reflecting selling commissions, hedging costs and the issuer’s internal funding rate.
JPMorgan Chase & Co. (JPM), via JPMorgan Chase Financial Company LLC, is offering unsecured callable contingent interest notes linked individually to the MSCI EAFE Index and the MSCI Emerging Markets Index, maturing August 22, 2031, in minimum denominations of $1,000.
Investors receive a Contingent Interest Payment on each Review Date only if the closing level of each index is at least 70.00% of its Initial Value (the Interest Barrier); otherwise no interest is paid for that period. If the notes are not redeemed early and, on the final Review Date, either index is below 60.00% of its Initial Value (its Trigger Value), principal is reduced 1% for each 1% decline in the Lesser Performing Index, potentially down to zero.
The issuer may redeem the notes early, in whole, on specified Interest Payment Dates starting November 24, 2026, paying $1,000 plus any due interest. The indicative estimated value is about $980 per $1,000 note and will not be less than $950, reflecting embedded costs and an internal funding rate. The notes are fully and unconditionally guaranteed by JPMorgan Chase & Co. and expose holders to its and the issuer’s credit risk, non-U.S. and emerging markets equity risk, currency risk, limited liquidity and complex U.S. tax treatment.
JPMorgan Chase & Co. (JPM), via JPMorgan Chase Financial Company LLC, is offering unsecured Capped Dual Directional Buffered Equity Notes linked to the S&P 500® Index, maturing on September 29, 2027. The notes provide unleveraged exposure to index moves, with gains from appreciation or, within limits, from moderate depreciation.
The structure offers upside participation in positive index returns, capped at a Maximum Upside Return of at least 9.40%, and a “dual directional” feature: if the index is flat or down by up to a 15.00% Buffer Amount, investors receive a positive return equal to the absolute decline. If the index falls by more than 15%, principal is reduced 1:1 beyond the buffer, with losses up to 85.00% of principal.
The notes pay no interest or dividends, are not FDIC insured, are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not be listed. The minimum denomination is $1,000. If priced on the stated date, the estimated value would be about $988.60 per $1,000 note and will not be less than $950.00 when set, reflecting selling, structuring and hedging costs.
JPMORGAN CHASE & CO (JPM), through JPMorgan Chase Financial Company LLC, is offering $436,000 of Uncapped Return Enhanced Notes linked to the lesser performing of the EURO STOXX 50® Index and the iShares® MSCI EAFE ETF, maturing on August 19, 2030 and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes provide an uncapped leveraged upside of 2.36x any positive return of the lesser performing underlying at maturity, but expose investors to 1-for-1 downside if either underlying finishes below its initial value, with potential loss of all principal. The notes pay no interest, provide no dividends, are unsecured and unsubordinated obligations subject to the credit risk of both the issuer and guarantor, and will not be listed, so liquidity will depend on repurchases by J.P. Morgan Securities LLC. The estimated value at pricing was $974.40 per $1,000 note, below the issue price, reflecting structuring, hedging costs and dealer profits.
JPMorgan Chase & Co. (JPM), through subsidiary JPMorgan Chase Financial Company LLC, is issuing $2,000,000 of unsecured structured “Review Notes” linked to the least-performing of the TOPIX Index, MSCI Emerging Markets Index and iShares Russell 2000 Value ETF, maturing in August 2031 and fully guaranteed by JPMorgan Chase & Co.
The notes can be automatically called on annual review dates starting August 2027 if each underlying is at or above its call value, paying back principal plus a fixed premium of up to 91.50% by final review. If never called and the worst underlying finishes below its 80% Barrier Amount, repayment is reduced one-for-one with the loss on the least-performing underlying, potentially to zero. The issue price is $1,000 per note, with selling commissions of $4 and issuer proceeds of $996 per note; the estimated initial value is $957.50, reflecting embedded fees and hedging costs. The notes pay no interest or dividends, are subject to JPMorgan credit risk, may be accelerated upon certain regulatory or fund events, and are not listed, so liquidity and resale value may be limited.
JPMorgan Chase Financial Company LLC, a wholly owned finance subsidiary of JPMORGAN CHASE & CO (JPM), is offering callable fixed rate notes due October 1, 2027, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and pays fixed interest at 4.05% per annum, calculated on an Actual/360 basis and paid in arrears on March 1, 2027, September 1, 2027 and at maturity, subject to earlier redemption. The issuer may, at its option, redeem all (but not part) of the notes at par plus accrued interest on March 1, 2027, June 1, 2027 or September 1, 2027. The notes are issued under JPMorgan’s Series A medium-term note program, are not bank deposits, are not FDIC insured, and involve risks described in the referenced risk factor sections. The price to the public is expected to be between $997.60 and $1,000 per $1,000 note, with selling commissions that, if priced today, would be about $1.00 and will not exceed $2.50 per $1,000 note.
JPMORGAN CHASE & CO (JPM), via JPMorgan Chase Financial Company LLC, is offering Capped Trigger GEARS linked to the S&P 500® Equal Weight Index under its medium-term note program. Each Security has a $10 principal amount and a term of approximately 4 years, from an expected trade date of August 27, 2026 to maturity on or about August 29, 2030.
At maturity, if the index return is positive, investors receive principal plus 1.50x the index gain, capped at a Maximum Gain between 42.50% and 47.50%. If the index return is zero or negative but the final level is at or above the Downside Threshold of 75% of the Initial Value, principal is repaid. If the final level is below this threshold, repayment is reduced dollar-for-dollar with the index loss, down to zero.
The Securities pay no interest and do not provide dividends from the index components. They are unsecured obligations of JPMorgan Chase Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., and are described as significantly riskier than conventional debt. The price to public is $10.00 per Security, including up to $0.30 in selling commissions, with net proceeds of $9.70 to the issuer. The estimated value, if priced on the indicated date at the midpoint Maximum Gain, would be about $9.592 per $10, and will not be less than $9.20 at pricing.
JPMORGAN CHASE & CO (JPM), through its wholly owned finance subsidiary JPMorgan Chase Financial Company LLC, is offering Capped GEARS (Growth Enhanced Asset Return Securities) linked to the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.
Each Security has a $10 principal amount, with a minimum investment of $1,000, a term of about 14 months from the expected August 27, 2026 trade date to the October 29, 2027 maturity. If the S&P 500 return over the term is positive, investors receive principal plus 3.00x the index return, capped by a Maximum Gain between 13.35% and 15.35% to be set on the trade date. If the index is flat, only principal is repaid.
If the index return is negative, repayment is linearly reduced with full downside exposure, so investors can lose some or all of their principal. The Securities pay no interest and provide no dividends. The price to public is $10.00 per Security, including up to $0.20 in selling commissions, with issuer proceeds of $9.80 per Security. The indicative estimated value is about $9.753, and will not be less than $9.40 per $10 principal amount when finalized. All payments depend on the creditworthiness of both JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co.
JPMorgan Chase & Co. (JPM), via JPMorgan Chase Financial Company LLC, is offering Trigger GEARS notes linked to the EURO STOXX 50® Index, maturing around August 29, 2036. Each Security has a $10 principal amount and provides leveraged upside exposure: if the index return is positive, the maturity payment equals $10 plus the index return multiplied by an Upside Gearing between 1.93 and 2.1325.
If the index return is zero or negative but the final index level is at or above 65% of the Initial Value (the Downside Threshold), investors receive full principal back at maturity. If the index return is negative and the final level is below this threshold, repayment is $10 plus $10 times the negative index return, exposing investors to full downside and possible total loss of principal. The notes pay no interest or dividends and are subject to the credit risk of JPMorgan Chase Financial Company LLC and the JPMorgan Chase & Co. guarantee.
The price to the public is $10.00 per Security, including up to $0.50 in selling commissions to UBS, with proceeds to the issuer of $9.50 per Security. The estimated value, assuming Upside Gearing at the midpoint of the range, would be about $9.058 per $10, and will not be less than $8.90 when set, reflecting embedded costs and hedging.
JPMorgan Chase Financial Company LLC is offering unsecured Trigger GEARS linked to an unequally weighted basket of five equity indices, fully and unconditionally guaranteed by JPMorgan Chase & Co. The Basket gives greatest weight to the EURO STOXX 50® Index (40%), with additional exposure to the Nikkei 225 (25%), FTSE® 100 (17.5%), Swiss Market Index (10%) and S&P/ASX 200 (7.5%).
Each Security has a $10 principal amount, with a minimum investment of $1,000, and an expected term from August 27, 2026 to August 29, 2031. If the Basket Return is positive, investors receive principal plus leveraged upside based on an Upside Gearing to be set on the trade date, expected between 1.71 and 1.91. If the Basket Return is zero or negative but the Final Basket Value is at or above the Downside Threshold of 75% of the Initial Basket Value, investors receive principal only.
If the Final Basket Value falls below the Downside Threshold, repayment is reduced dollar-for-dollar with the Basket’s loss, and investors can lose all principal. The Securities pay no interest, provide no dividends, and all payments depend on the creditworthiness of JPMorgan Financial and JPMorgan Chase & Co. The price to public is $10.00 per Security, while the estimated value at pricing is expected to be about $9.779, and not less than $9.40, reflecting structuring and hedging costs. Tax counsel views the Securities as open transactions for U.S. federal income tax purposes, and the issuer expects Section 871(m) withholding not to apply to Non‑U.S. Holders, though this is not binding on the IRS.
JPMorgan Chase Financial Company LLC is offering Series A Digital Equity Notes due November 24, 2027, linked to the S&P 500® Index and fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and pays no interest.
At maturity, for each $1,000 note, investors receive the threshold settlement amount (expected between $1,095.30 and $1,111.80) if the S&P 500 final level is at least 90.00% of its initial level. If the index declines by more than 10.00%, principal is lost on a leveraged basis at approximately 1.1111% for each 1% drop beyond the 10% buffer, down to total loss. Returns are capped at a cap level expected between 109.53% and 111.18% of the initial index level, and the notes will not be listed. The estimated value at pricing is expected between $977.30 and $987.30 per $1,000 note, below the issue price, reflecting selling commissions of up to 1.25% and hedging and structuring costs; payments are subject to the credit risk of both the issuer and guarantor and to complex, unsettled U.S. tax treatment.
JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes linked to the common stock of Freeport-McMoRan Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and a minimum denomination of $1,000.
The notes pay a Contingent Interest Rate of at least 15.00% per annum (at least 3.75% per quarter) for any Review Date on which the Freeport-McMoRan share price is at or above the Interest Barrier of 56.75% of the Initial Value. Missed interest can be paid later if the barrier is met on a subsequent Review Date. The notes may be automatically called on any Review Date from February 22, 2027 (other than the first and final Review Dates) if the share price is at or above the Initial Value, returning $1,000 plus due and unpaid contingent interest.
If not called and the final share price on August 21, 2028 is at or above the Trigger Value (also 56.75% of the Initial Value), holders receive $1,000 plus applicable contingent interest. If the final price is below the Trigger Value, repayment is reduced by the full stock decline, and investors can lose more than 43.25% and up to all principal. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and the estimated value at pricing is expected to be below the $1,000 issue price (approximately $960 today, but not less than $940 per $1,000 principal amount).
JPMorgan Chase Financial Company LLC plans to issue Callable Fixed Rate Notes due August 31, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay 4.70% per annum, with interest on each March 1 and September 1, beginning March 1, 2027, using a 30/360 day count.
Each note has a $1,000 principal amount. The issuer may redeem the notes in whole, but not in part, on the first calendar day of March, June, September and December, from September 1, 2027 through June 1, 2029, at par plus accrued interest. The business day convention is Following and the interest accrual convention is Unadjusted.
The price to the public per $1,000 principal amount will be between $995.10 and $1,000. If priced today, selling commissions would be about $2.00 per $1,000, and will not exceed $7.50 per $1,000. The notes are not bank deposits, are not insured by the FDIC or any governmental agency, and are expected to be treated as fixed-rate debt for U.S. federal income tax purposes without original issue discount.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering structured Digital Barrier Notes linked to the lesser performing of the S&P 500 Index and the Russell 2000 Index, maturing on September 19, 2030, in $1,000 minimum denominations.
At maturity, if the Final Value of each index is at or above its Initial Value, investors receive $1,000 plus a Contingent High Digital Return of at least 48.00%. If either index is below its Initial Value but both remain at or above 70.00% of Initial Value (the Barrier Amount), payment is $1,000 plus a Contingent Low Digital Return of 12.00%.
If the Final Value of either index is below its Barrier Amount, repayment equals $1,000 plus the Lesser Performing Index Return, resulting in losses greater than 30% and potentially a total loss of principal. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not listed, and may have limited or no secondary market liquidity. An indicative estimated value is $971.20 per $1,000 note, and the final estimated value will not be less than $900.00.
JPMorgan Chase Financial Company LLC is issuing unsecured Trigger GEARS linked to an unequally weighted basket of five equity indices, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each Security has a $10 principal amount, minimum investment $1,000, and an expected term of approximately 5 years to August 29, 2031.
At maturity, if the Basket Return is positive, investors receive principal plus leveraged upside based on an Upside Gearing between 1.50 and 1.68. If the Basket Return is zero or negative but the Final Basket Value is at or above the 75% Downside Threshold, principal is repaid. If the Final Basket Value is below that threshold, repayment is reduced dollar-for-dollar with the negative Basket Return, up to a total loss of principal.
The basket weights are 40% EURO STOXX 50®, 25% Nikkei 225, 17.5% FTSE® 100, 10% Swiss Market Index and 7.5% S&P/ASX 200. The issue price is $10.00, including up to $0.35 in selling commissions, for net proceeds of $9.65 to the issuer. The indicative estimated value is about $9.44 per $10, and will not be less than $9.10 per $10. The Securities pay no interest or dividends, are subject to full market downside beyond the threshold, and expose holders to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering Medium-Term Notes, Series A, Capped Buffered Enhanced Participation Basket-Linked Notes due October 8, 2027, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked to an unequally weighted basket of five equity indices: EURO STOXX 50® (40%), TOPIX® (25%), FTSE® 100 (17%), Swiss Market Index (11%) and S&P/ASX 200 (7%), with an initial basket level of 100.
The notes pay no interest. At maturity, investors receive $1,000 plus 1.80 times any positive basket return, subject to a cap level expected between 108.38% and 109.85% of the initial basket level and a maximum settlement amount expected between $1,150.84 and $1,177.30 per $1,000. A buffer protects principal for basket declines up to 12.50% (buffer level 87.50%); beyond that, losses are amplified by a buffer rate of approximately 1.1429, and principal can be fully lost.
The original issue price is 100.00% of principal, with underwriting commission of 0.00% and net proceeds of 100.00%. The estimated value is expected between $982.90 and $992.90 per $1,000, reflecting internal funding and hedging costs. The notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., will not be listed, and may have limited or no secondary market liquidity.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable yield notes linked to the common stock of Advanced Micro Devices, Inc. (AMD), maturing on August 30, 2029. The notes pay an interest rate of at least 13.00% per annum, or at least 3.25% per quarter, as long as they remain outstanding and are not automatically called.
The notes are automatically called, and principal repaid early, if on any Review Date from March 1, 2027 through August 27, 2029 (excluding the final Review Date for early call) the AMD share closing price is greater than or equal to the Initial Value. If held to maturity and not called, investors receive full principal plus the final interest payment if the Final Value is at least the Trigger Value, set at 50.00% of the Initial Value.
If the notes are not automatically called and AMD’s Final Value is below the Trigger Value, the maturity payment is reduced by the same percentage decline as AMD’s price, plus the final interest payment, and investors can lose more than 50% and up to all of principal. Minimum denomination is $1,000, and the notes are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. An indicative estimated value is about $950 per $1,000 note, and will not be less than $930 per $1,000 at pricing.
JPMorgan Chase Financial Company LLC is offering structured Capped Notes linked to the S&P 500® Futures Excess Return Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes participate 100% in any positive Index return over the term, but gains are capped by a Maximum Amount of at least $565 per $1,000 note, implying a maximum return of at least 56.50% at maturity.
At maturity on August 24, 2028, investors receive $1,000 plus the Additional Amount if the Index has risen, subject to the cap. If the Index is flat or down, the payoff equals $1,000 plus $1,000 × Index Return, but not less than $950 per $1,000, so up to 5% of principal may be lost, and there are no interest payments. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The price to public is $1,000 per note; if priced on the described date, the estimated value would be about $987, and will not be less than $900 per $1,000 note, reflecting embedded structuring, hedging and distribution costs.
JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated Auto Callable Buffered Return Enhanced Notes linked to the iShares MSCI Emerging Markets ETF (EEM), fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and may be automatically called on September 1, 2027 if the ETF’s closing price is at or above the Call Value, paying $1,150 per note (principal plus a $150 Call Premium) on September 7, 2027, with no further payments.
If not called, the notes mature on August 29, 2030. At maturity, investors receive $1,000 plus at least 1.46× any positive Fund return; full principal is repaid if the ETF has fallen by up to the 15% Buffer Amount. If the ETF declines by more than 15%, principal is reduced 1% for each additional 1% drop, up to a 85% loss of principal. The notes pay no interest or dividends, are subject to the credit risk of both the issuer and guarantor, and may be difficult to sell. If priced on the described date, the estimated value would be about $980.10 per $1,000 note and will not be less than $900, reflecting embedded fees, hedging costs and dealer compensation.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the common stock of Palo Alto Networks, Inc. (PANW), fully and unconditionally guaranteed by JPMorgan Chase & Co., in minimum denominations of $1,000 per note.
The notes pay a Contingent Interest Rate of at least 23.25% per annum (at least 5.8125% per quarter) only when, on a Review Date, PANW’s closing price is at or above the Interest Barrier of 60.00% of the Strike Value. The Strike Value was set at $384.27 on August 14, 2026, so the Interest Barrier and Trigger Value are 60% of that level. The notes are auto callable if PANW’s price on a non‑final Review Date is at or above the Strike Value, with the earliest call date on November 16, 2026, and mature on August 19, 2027.
If not called and the Final Value is below the Trigger Value, repayment at maturity is $1,000 + ($1,000 × Stock Return), exposing holders to a loss of more than 40% and potentially all principal. The estimated economic value is currently about $974.10 per $1,000 note, and will not be less than $940.00, reflecting embedded selling, structuring and hedging costs. The notes are unsecured, not FDIC‑insured, not listed on any exchange, may pay no interest, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.