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 provides an update on the S&P® Global 100 PR 5% Daily Risk Control 0.5% Deduction Index (USD) ER, an excess-return index linked to the S&P® Global 100 Index. It was established on September 18, 2023 and targets 5% annualized volatility by dynamically adjusting exposure based on observed underlying volatility.
The index reflects a 0.50% per annum deduction and a daily notional financing cost referenced to the Effective Federal Funds Rate. From July 2016 to July 2026, hypothetical and actual data show annualized return of 2.60%, annualized volatility of 4.23% and a Sharpe Ratio of 0.61, compared with lower Sharpe Ratios for domestic and global 30/70 equity-bond portfolios.
The update includes monthly return history from 2017 through July 2026 and highlights risks, including that the index may not match its 5% target volatility, may be significantly uninvested, and may fail to outperform the S&P® Global 100 Index. All past and backtested performance is described as illustrative and not indicative of future results.
JPMorgan Chase Financial Company LLC is offering Auto Callable Accelerated Barrier Notes linked to the iShares MSCI South Korea ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination and may be automatically called on August 30, 2027 if the ETF’s price is at or above 100% of its Initial Value, paying $1,000 plus a call premium of at least $390.
If not called and the ETF has risen at maturity in 2031, investors receive $1,000 plus 1.50× the fund’s positive return. If the final price is between 50% and 100% of the Initial Value, principal is returned. Below the 50% barrier, principal is reduced one-for-one with the fund’s loss, up to a total loss. The notes pay no interest or dividends, are unsecured obligations subject to JPMorgan Financial and JPMorgan Chase & Co. credit risk, and have an estimated value of about $920 per $1,000, not less than $900, reflecting embedded costs and hedging.
JPMorgan Chase Financial Company LLC is offering Auto Callable Accelerated Barrier Notes due September 5, 2031, linked individually to the Nasdaq-100 Index and the Russell 2000 Index and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called on September 7, 2027 if each index closes at or above its Call Value, paying $1,000 plus a Call Premium Amount of at least $172.50 per $1,000 note.
If not called, at maturity investors receive: an uncapped 1.50x leveraged upside on the appreciation of the lesser performing index if both final index values exceed their initial values; return of principal if either index is at or below its initial value but both remain at or above a Barrier Amount of 70.00% of initial; or a loss of 1% of principal for each 1% decline in the lesser performing index below its initial value if either finishes below the barrier, up to total loss. The notes pay no interest or dividends, are unsecured and unsubordinated, and expose holders to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
The minimum denomination is $1,000. If priced on the date of the term sheet, the estimated value would be about $939.70 per $1,000 note and, when finally set, will not be less than $900.00 per $1,000 note, reflecting embedded selling, structuring and hedging costs. The notes will not be listed, and secondary market prices are expected to be lower than the issue price and sensitive to market factors and the sponsor’s internal funding rate.
JPMorgan Chase Financial Company LLC is offering uncapped accelerated barrier notes linked to the S&P 500® Futures Excess Return Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes target a leveraged payoff at maturity without interim interest payments.
At maturity, if the Index’s Final Value exceeds its Initial Value, holders receive $1,000 plus 2.3575× the Index’s positive return. If the Final Value is at or above the Barrier Amount of 70% of the Initial Value, principal is returned. If the Final Value falls below the Barrier, principal is reduced 1% for each 1% Index decline from the Initial Value, down to a total loss.
The notes have minimum denominations of $1,000, are expected to price on or about August 14, 2026 and settle on or about August 19, 2026, and mature on August 19, 2031. An indicative estimated value is $978.30 per $1,000, and the final estimated value will not be less than $900. Payments are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not bank deposits and are not FDIC insured.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes due March 2, 2028, linked individually to the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, and fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes may pay a monthly contingent coupon of at least 8.75% per annum (0.72917% per month) if, on each Interest Review Date, the closing level of each index is at or above 70% of its Initial Value, which acts as both the Interest Barrier and Trigger Value. The notes will be automatically called quarterly if, on an Autocall Review Date starting February 26, 2027, each index closes at or above its Initial Value, returning $1,000 principal plus that period’s contingent interest, with no further payments.
If the notes are not called and, on the final Review Date, any index is below its Trigger Value, investors receive $1,000 plus $1,000 times the Least Performing Index Return, leading to a loss of more than 30% and potentially all principal. The notes are unsecured, unsubordinated obligations of JPMorgan Financial subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., are not bank deposits or FDIC insured, and may have limited or no secondary market value. The estimated value, if priced today, would be about $967.10 per $1,000 note, and will not be less than $900.00 per $1,000 at pricing.
JPMorgan Chase Financial Company LLC is offering Capped Buffered Enhanced Participation Equity Notes due 2027, linked to the iShares MSCI Emerging Markets ex China ETF, and fully guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and pays no interest.
At maturity in December 2027, holders receive enhanced upside at a 1.25x participation rate if the ETF is above its initial level, but returns are capped by a maximum settlement amount. A 15% buffer protects principal against moderate declines; below an 85% buffer level, losses increase at about 1.1765% for each 1% further drop, up to a total loss of principal. The estimated value at pricing is expected between $967 and $977 per $1,000, reflecting structuring and hedging costs, and the notes are subject to the credit risk of both the issuer and the guarantor.
JPMorgan Chase Financial Company LLC is offering callable Structured Investments Review Notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have minimum denominations of $1,000, a Strike Value of 4,438.00 set on August 6, 2026, and mature on August 11, 2033.
On each of 25 Review Dates starting August 16, 2027, if the Index closing level is at least 100% of the Strike Value (the Call Value), the notes are automatically called for $1,000 plus a Call Premium, beginning at least 26% of principal (≥$260) and rising over time to at least 182% (≥$1,820) on the final Review Date. If not called and the Final Value is at least the Barrier Amount of 2,219.00 (50% of Strike), investors receive principal only. If the Final Value is below the Barrier Amount, repayment is $1,000 + ($1,000 × Index Return), so losses exceed 50% of principal and can reach 100%.
The Index dynamically allocates to E-mini S&P 500 futures with a 35% target volatility, exposure capped at 500%, and is reduced by a 6.0% per annum daily deduction, which drags performance versus an identical index without this deduction. The notes pay no interest or dividends and are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. An indicative estimated value is about $920 per $1,000 note if priced today and will not be less than $900 per $1,000 at pricing.
JPMorgan Chase Financial Company LLC is offering $1,772,000 of Capped Buffered Return Enhanced Notes linked to the lesser performance of the Dow Jones Industrial Average and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on February 10, 2028 and are issued in $1,000 denominations, priced at 100% of principal.
At maturity, investors receive 1.50 times any positive return of the lesser performing index, up to a Maximum Return of 22.30% (maximum payment $1,223 per $1,000). A 15.00% Buffer Amount protects against moderate declines; if the lesser index falls more than 15%, principal is reduced 1% for each 1% drop beyond the buffer, down to a minimum of $150 (an 85.00% loss) if that index goes to zero.
The notes pay no interest and provide no dividends from index constituents. They are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing was $990.10 per $1,000, below the issue price due to structuring, hedging costs and dealer compensation. The notes will not be listed, and any secondary market would depend on J.P. Morgan Securities LLC, with likely prices below the original issue price.
JPMorgan Chase Financial Company LLC is offering Capped Buffered Return Enhanced Notes linked to the S&P 500® Index, due August 15, 2030, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes provide 1.50× any positive Index return at maturity, subject to a Maximum Return of at least 42.00%. A 20.00% Buffer Amount absorbs moderate Index declines; however, if the Index falls more than 20.00%, principal is reduced 1% for each additional 1% decline, for a potential loss of up to 80.00% of principal ($200 per $1,000).
The notes pay no interest, provide no dividends from S&P 500® constituents, and will not be listed on an exchange, so liquidity may depend on J.P. Morgan Securities LLC as a dealer. They are unsecured, unsubordinated obligations of JPMorgan Financial, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The price to public is expected to be $1,000 per note; if priced on the date illustrated, the estimated value would be about $970.00 and will not be less than $950.00 per $1,000 at issuance. Tax treatment is expected to follow “open transaction” prepaid financial contract treatment, but this is subject to confirmation and potential future IRS or Treasury guidance.
JPMorgan Chase Financial Company LLC is offering Dual Directional Buffered PLUS, unsecured notes fully and unconditionally guaranteed by JPMorgan Chase & Co., linked to the MSCI Emerging Markets Index and maturing on August 29, 2028. The notes pay no interest and have a stated principal amount of $1,000 each.
At maturity, investors receive leveraged upside of 150% of any index gain, capped at a maximum payment of at least $1,318.50 per note. For index declines of up to the 15.00% buffer amount, investors earn a positive return equal to the absolute index decline, up to $1,150.00. For declines beyond 15.00%, repayment is reduced in proportion to the loss, plus the buffer, with a minimum payment of $150.00 (15% of principal). Investors may lose up to 85% of principal and are exposed to the credit risk of JPMorgan Chase Financial and JPMorgan Chase & Co. The notes will not be listed on any exchange, and the initial estimated value is expected to be below the $1,000 issue price.
JPMorgan Chase Financial Company LLC is offering $1,500,000 of Trigger Autocallable GEARS, unsecured notes linked to an unequally weighted basket of five equity indices (EURO STOXX 50, Nikkei 225, FTSE 100, Swiss Market Index and S&P/ASX 200). The notes are fully and unconditionally guaranteed by JPMorgan Chase & Co.
The basket starts at 100 and is weighted 40% EURO STOXX 50, 25% Nikkei 225, 17.5% FTSE 100, 10% Swiss Market Index and 7.5% S&P/ASX 200. If on the July 28, 2027 observation date the basket is at or above 100% of its initial value, the notes are automatically called and pay $11.50 per $10, a 15.00% call return; investors do not participate in further upside.
If not called, at the August 2031 maturity a positive basket return pays principal plus geared upside using an Upside Gearing of 1.755. If the basket return is zero or negative but the final basket value is at least 75% of initial (the Downside Threshold), principal is repaid. Below 75%, repayment is $10 plus $10 times the basket return, giving full downside exposure and potential total loss of principal.
The notes pay no interest and provide no dividends from the underlying indices. Any payment depends on the creditworthiness of JPMorgan Financial and JPMorgan Chase & Co. The price to public is $10.00 per note, including $0.25 in selling commissions; proceeds to the issuer are $9.75 per note. The estimated value at pricing was $9.666 per $10 note, reflecting internal funding and hedging costs. The issuer’s tax counsel expects the notes to be treated as open transactions (prepaid financial contracts), and believes Section 871(m) withholding should not apply to Non-U.S. Holders, though the IRS could take a different view.
JPMorgan Chase Financial Company LLC is offering USD-denominated autocallable buffered currency-linked notes due 2029, linked to the USD/CHF exchange rate and fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and pays no interest. The notes can be automatically called after roughly 12–14 months or around 24 months if USD/CHF is at least 96.00% of the initial exchange rate, paying $1,000 plus a call premium expected between 10.00%–11.77% on the first call date or 20.00%–23.54% on the second. If not called, at maturity (about 36 months) investors receive $1,000 plus a maturity premium expected between 30.00%–35.31% if the final exchange rate is at least 96.00% of the initial rate, capping the maximum maturity payoff between $1,300.00 and $1,353.10 per $1,000 note. The structure includes a 4.00% buffer; beyond that, losses are leveraged so that every 1% decline past the buffer cuts principal by about 1.0417%, up to a total loss. The estimated initial fair value is expected between $935.00 and $945.00 per $1,000, reflecting selling commissions, hedging costs and issuer margins, and any repayment is subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering medium-term Capped Buffered Enhanced Participation Notes due August 15, 2029, linked to the SPDR® Gold Trust (GLD), fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and bears no interest.
At maturity, investors receive: (1) if the SPDR® Gold Trust’s final level is above its initial level, a positive return at a 1.50× upside participation rate, capped at a maximum settlement amount expected between $1,428.25 and $1,502.50 per $1,000; (2) if the final level is down by up to 10%, return of principal via a 90% buffer level; and (3) if the final level is down more than 10%, a leveraged loss of about 1.1111% of principal for each 1% decline beyond 10%, with the possibility of losing the entire investment.
The original issue price is 100% of principal, with underwriting commissions up to 2.60%. The estimated value at pricing is expected between $945.50 and $955.50 per $1,000, reflecting selling, structuring, and hedging costs. The notes will not be listed, are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and involve complex U.S. tax and regulatory considerations described in the tax and risk discussions.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes due September 6, 2029, linked to the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes may pay a monthly Contingent Interest Payment at an annual rate of at least 9.75% if on each Interest Review Date the closing level of every index is at or above 70.00% of its Initial Value, the Interest Barrier. Quarterly, if on an Autocall Review Date each index is at or above its Initial Value, the notes are automatically called and pay back principal plus that period’s contingent interest; no further payments are made.
If not called, at maturity investors receive principal plus the final contingent interest only if each index is at or above its Trigger Value (also 70.00% of Initial Value). If any index finishes below its Trigger Value, repayment of principal is reduced 1:1 with the decline of the least performing index, leading to a loss of more than 30% and up to all invested principal. The notes are unsecured, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., will not be listed, and may have limited or no secondary market. The indicative estimated value is about $964.70 per $1,000 note, and will not be less than $900.00 per $1,000 when finalized.
JPMorgan Chase Financial Company LLC is issuing $1,000,000 of Trigger Autocallable GEARS linked to the EURO STOXX 50® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each Security has a $10 principal amount and an approximate 5‑year term, maturing on August 8, 2031, unless called earlier.
If on the July 28, 2027 Observation Date the index closes at or above the Autocall Barrier of 100.00% of the Initial Value (6,476.98), the Securities are automatically called and pay a Call Price of $11.80 per $10 (principal plus an 18.00% Call Return). Investors then receive no further payments and do not participate in additional index gains.
If not called and the index shows a positive Underlying Return at maturity, investors receive principal plus a leveraged gain based on Upside Gearing of 1.3825. If the Underlying Return is zero or negative but the Final Value is at or above the Downside Threshold of 75.00% of the Initial Value (4,857.74), principal is repaid. If the Final Value is below the Downside Threshold, repayment equals $10 + ($10 × Underlying Return), creating full downside exposure and up to a 100% 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., and are not FDIC‑insured. The issue price is $10.00 per Security, including $0.25 selling commissions to UBS; the issuer’s estimated value is $9.628 per $10 Security.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes due March 3, 2028, linked individually to the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index, and fully guaranteed by JPMorgan Chase & Co.
The notes may pay a monthly contingent coupon if on each Interest Review Date the closing level of every index is at or above 70.00% of its Initial Value, the Interest Barrier. On quarterly Autocall Review Dates, if every index is at or above its Initial Value, the notes are automatically called and pay $1,000 plus the applicable contingent interest, with no further payments. If not called, and at maturity each index is at or above its Trigger Value (also 70.00% of Initial Value in the examples), investors receive $1,000 plus the final contingent coupon.
If the notes are not called and the Final Value of any index is below its Trigger Value, repayment is reduced by the full negative performance of the Least Performing Index, and principal loss can be substantial, up to 100%. The hypothetical contingent interest rate is 10.00% per annum (at least 10.00% will apply). The estimated value is illustrated at $976.10 per $1,000 note, and will not be less than $900.00 when set, reflecting embedded costs. The notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. and are not bank deposits or FDIC insured.
JPMorgan Chase Financial Company LLC is offering $1,671,000 of unsecured Review Notes linked to the least performing of the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are issued in $1,000 minimum denominations, priced on August 5, 2026 and expected to settle on or about August 10, 2026, with maturity on August 9, 2029.
The notes feature an automatic call on any Review Date from August 9, 2027 onward if each Index closes at or above 100.00% of its Initial Value. In that case, investors receive $1,000 plus a Call Premium ranging from 17.20% on the first Review Date up to 51.60% on the final Review Date, and the notes terminate. If not called and on the final Review Date each Index is at or above 70.00% of its Initial Value (the Barrier Amount), investors receive full principal back.
If the notes are not called and any Index ends below its Barrier Amount, repayment at maturity is reduced based on the Least Performing Index Return, with losses matching the negative performance of the worst Index and the possibility of a 100% loss of principal. The notes pay no interest or dividends, are not bank deposits or FDIC insured, and expose holders to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing was $982.40 per $1,000, below the issue price due to selling, structuring and hedging costs.
JPMorgan Chase Financial Company LLC is offering $3,800,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Lam Research Corporation, fully and unconditionally guaranteed by JPMorgan Chase & Co. The Notes pay a quarterly contingent coupon at a rate of 33.05% per annum (or $0.8263 per $10) only when Lam Research’s share price on an Observation Date is at or above the Coupon Barrier of $158.87, equal to 50.00% of the Initial Value of $317.74 observed on August 4, 2026.
The Notes are automatically called if on any quarterly Observation Date the share price is at or above the Initial Value, in which case investors receive principal plus that quarter’s coupon and no further payments. If not called, and at maturity the Final Value is at or above the Downside Threshold of $158.87, investors receive principal plus the final coupon. If the Final Value is below the Downside Threshold, repayment is reduced in proportion to the decline, exposing investors to significant loss of principal. The Notes are unsecured, unsubordinated obligations, not listed on any exchange, have an estimated value of $9.63 per $10, and all payments depend on the creditworthiness of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering Digital Buffered Notes linked to a Brent crude oil futures contract. The notes pay at maturity based on the ICE Futures Europe Brent crude nearby futures (Bloomberg CO1/CO2).
If the Ending Contract Price is at or above the $80.70 Contract Strike Price, or down by up to the 32.10% Buffer Percentage, investors receive a fixed 10.00% Contingent Digital Return, for a total of $1,100 per $1,000 note. If the Ending Contract Price falls more than the buffer, the notes lose 1.47275% of principal for every 1% decline beyond the buffer, with payment floored at $0, so some or all principal may be lost.
The notes price at $1,000 per note in a $2,500,000 offering, with underwriting fees of $10.83 per note and issuer proceeds of $989.17 per note. The estimated value at pricing is $981.80 per $1,000 note, reflecting embedded costs and JPMorgan’s internal funding rate and derivative pricing. The notes are unsecured obligations, not bank deposits, not insured by the FDIC, rely on complex tax treatment as open transactions, and are exempt from Commodity Exchange Act regulation under the hybrid instrument exemption.
JPMorgan Chase Financial Company LLC is offering $2,000,000 of Capped Return Enhanced Notes linked to the S&P 500® Index, due August 7, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are unsecured, unsubordinated obligations and expose investors to the credit risk of both entities.
The notes pay no interest or dividends and use three return tiers with leverage factors of 0.66, 4.00 and 1.60, based on the Index’s arithmetic-average performance between Initial and Ending Averaging Dates. Positive returns are capped at 119.38%, corresponding to a maximum payment of $2,193.80 per $1,000 note. If the Final Value is below the Initial Value, investors lose 1% of principal for each 1% Index decline, up to a total loss of principal.
The price to public is $1,000 per note, with no selling commissions for fee-based advisory accounts, and total proceeds of $2,000,000. The estimated value at pricing was $982.60 per $1,000, reflecting structuring and hedging costs. The notes will not be listed on any exchange, and secondary market prices are expected to be below the issue price. The issuer’s tax counsel views the notes as “open transactions” treated as prepaid financial contracts for U.S. federal income tax purposes, though future IRS guidance could alter this treatment.
JPMorgan Chase Financial Company LLC is offering $760,000 of structured Callable Contingent Interest Notes due August 8, 2030, linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent interest rate of 11.75% per annum, credited monthly, but 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 starting November 10, 2026; on early redemption, investors receive $1,000 plus the applicable contingent interest and no further payments. If held to maturity and the Final Value of each index is at least its 70.00% Trigger Value, investors receive $1,000 principal plus the final contingent interest; if any index finishes below its Trigger Value, the maturity payment is reduced by the percentage decline of the least performing index, potentially to zero. The notes are unsecured, unsubordinated obligations of JPMorgan Financial, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The price to public is $1,000 per note, including $7.50 in fees and commissions, versus an estimated value of $972.00 per $1,000 at pricing, and are not listed, insured, or principal-protected.
JPMorgan Chase Financial Company LLC is offering Capped Buffered Return Enhanced Notes linked to the S&P 500® Index, due August 15, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination.
At maturity, investors receive 2.00 times any positive Index performance, capped at a maximum return of at least 20.50%. A 15.00% buffer protects against moderate declines, but if the Index falls by more than 15.00%, principal is reduced 1% for each additional 1% decline, for a potential loss of up to 85.00% of principal.
The notes pay no interest or dividends, are unsecured and unsubordinated obligations of JPMorgan Financial, and payments are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. If priced today, the estimated value would be approximately $990.90 per $1,000 note and will not be less than $970.00 per $1,000 when set, reflecting selling, structuring and hedging costs, as well as an internal funding rate used for valuation.
JPMorgan Chase Financial Company LLC is offering Capped Buffered Return Enhanced Notes linked to the MSCI Emerging Markets Index, fully and unconditionally guaranteed by JPMorgan Chase & Co., with a scheduled maturity on January 20, 2028.
The notes provide 2.00x any positive Index performance at maturity, subject to a Maximum Return of at least 33.05%, and include a 10.00% downside buffer. If the Index falls more than 10% from its initial level, investors lose 1% of principal for each 1% decline beyond the buffer, up to a maximum loss of 90.00%. The notes pay no interest or dividends and are issued in minimum denominations of $1,000.
The notes are unsecured and unsubordinated obligations of JPMorgan Financial, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. An indicative estimated value is given as approximately $994.40 per $1,000 if priced on the reference date, and the final estimated value will not be less than $970.00 per $1,000. The product embeds significant risks, including equity market, emerging markets, currency, liquidity, tax, and issuer credit risks, and secondary market prices are expected to be below the original issue price.
JPMorgan Chase Financial Company LLC is offering structured “Review Notes” linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a scheduled maturity on August 19, 2031 and a minimum denomination of $1,000.
The notes may be automatically called on any annual Review Date starting August 18, 2027 if each index is at or above its Call Value (100% of its Initial Value). If called, investors receive $1,000 plus a call premium of at least 11.75% on the first Review Date, increasing to at least 58.75% on the final Review Date, and then the notes terminate.
If not called and, on the final Review Date, each index is at or above its Barrier Amount (70% of its Initial Value), investors receive principal back. If any index is below its Barrier Amount, repayment is reduced 1-for-1 with the Least Performing Index Return, leading to losses of more than 30% and potentially a total loss of principal. The notes pay no interest, provide no dividends, are unsecured obligations subject to JPMorgan Financial’s and JPMorgan Chase & Co.’s credit risk, and are not FDIC-insured. The estimated value would be approximately $936.60 per $1,000 note if priced on the date shown 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 to the least performing of the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a minimum denomination of $1,000 and are expected to price on or about August 11, 2026 and settle on or about August 14, 2026.
Investors may receive a Contingent Interest Payment on each Review Date only if the closing level of each Index is at or above 85.00% of its Initial Value (the Interest Barrier). The notes can be automatically called on specified Review Dates (earliest August 11, 2027) if each Index is at or above its Initial Value, returning $1,000 plus applicable interest and any unpaid contingent interest.
If the notes are not called and the Final Value of any Index is below its 85.00% Trigger Value, the maturity payment is reduced by the full negative return of the Least Performing Index, and investors may lose a significant portion or all of principal. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not bank deposits and are not FDIC insured. The estimated value is approximately $970.10 per $1,000 note if priced today and will not be less than $940.00 at issuance, reflecting embedded fees, hedging costs and dealer compensation.
JPMorgan Chase Financial Company LLC is offering unsecured Capped Buffered Return Enhanced Notes linked to the Russell 2000® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes provide 1.50x any positive Index performance at maturity, subject to a maximum return of at least 25.15%. A 10.00% Buffer Amount protects principal against moderate declines, but if the Index falls by more than 10.00%, investors lose 1% of principal for each additional 1% decline, up to a 90.00% loss of principal.
The notes pay no interest, provide no dividends, and are designed to be held to maturity on January 19, 2028, with minimum denominations of $1,000. Any payment depends on the credit risk of JPMorgan Financial and JPMorgan Chase & Co. If priced on the indicated date, the estimated value would be about $995.50 per $1,000, and at pricing it will not be less than $970.00, reflecting structuring and hedging costs. The notes will not be listed, and secondary market prices are expected to be below the original issue price and sensitive to market, credit and funding factors.
JPMorgan Chase Financial Company LLC is offering Capped Buffered Equity Notes linked to the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co., with minimum denominations of $1,000 and maturity on February 23, 2028. The notes provide 1.00x upside exposure to the Index, subject to a Maximum Return of at least 15.50%. If the Index ends down by 15.00% or less, investors receive full principal at maturity.
If the Index falls by more than 15.00%, repayment is reduced 1% for each additional 1% decline, up to a maximum loss of 85.00% of principal (payment as low as $150 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., and will not be listed, so liquidity may be limited.
If issued on the date illustrated, the estimated value would be about $970.00 per $1,000, and will not be less than $950.00 per $1,000 at pricing, reflecting embedded costs such as selling commissions and hedging. Tax treatment is based on an “open transaction” prepaid contract approach, but the IRS could challenge this, and future guidance could adversely affect tax consequences.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes due September 6, 2029, linked individually to the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, and fully and unconditionally guaranteed by JPMorgan Chase & Co.
Investors may receive a Contingent Interest Payment on each Review Date only if the closing level of each Index is at or above 70.00% of its Initial Value, the Interest Barrier. From March 1, 2027 onward, the notes are automatically called if on a Review Date (other than the first and final) each Index closes at or above its Initial Value, returning $1,000 principal plus the applicable contingent interest.
If the notes are not called and on the final Review Date any Index finishes below its Trigger Value (also 70.00% of Initial Value), repayment of principal is reduced one-for-one with the negative return of the Least Performing Index, down to a potential total loss. The hypothetical Contingent Interest Rate is illustrated at 11.00% per annum, paid quarterly if conditions are met. The minimum denomination is $1,000, and the indicative estimated value is approximately $960 per $1,000 note, not less than $940 at pricing, reflecting embedded selling, structuring and hedging costs and the issuer’s internal funding rate.
JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated Uncapped Digital Barrier Notes linked to the lesser performance of the STOXX® Europe 600 Index and the EURO STOXX 50® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price on or about August 14, 2026 and mature on August 19, 2032, with minimum denominations of $1,000.
At maturity, if the final level of each index is at or above its initial level, investors receive $1,000 plus the greater of the Contingent Digital Return of at least 85.50% or the actual return of the lesser-performing index. If either index is below its initial level but both remain at or above 70.00% of their initial values (the Barrier Amount), principal is returned. If either index ends below its Barrier Amount, repayment is reduced 1% for every 1% decline in the lesser-performing index, with the potential to lose more than 30% and up to all principal.
The notes pay no interest or dividends, are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., will not be listed on an exchange, and may be subject to issuer acceleration in certain legal or regulatory circumstances. The preliminary estimated value is indicated at approximately $973.80 per $1,000 note, not less than $900.00 when finalized, reflecting structuring and hedging costs.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $1,000,000 of Trigger Autocallable GEARS linked to the MSCI Emerging Markets Index, maturing August 8, 2031. Each Security has a $10 principal amount and is offered at $10, with a minimum investment of $1,000.
The notes may be automatically called on July 28, 2027 if the index closes at or above the Autocall Barrier of 100.00% of the Initial Value (1,687.03). In that case, investors receive a fixed Call Price of $12.00 per $10 principal (a 20.00% Call Return) and no further payments.
If not called, at maturity investors receive: (i) $10 plus the index return times an Upside Gearing of 1.4875 if the index return is positive; (ii) $10 if the index return is zero or negative but the Final Value is at or above the Downside Threshold of 75.00% of the Initial Value (1,265.27); or (iii) $10 plus the full negative index return if the Final Value is below the Downside Threshold, exposing investors to a loss of up to 100% of principal.
The Securities pay no interest or dividends and carry both market risk tied to the index and credit risk of JPMorgan Financial and JPMorgan Chase & Co. Selling commissions to UBS are $0.25 per $10, and the estimated value at pricing was $9.647 per $10 principal amount.
JPMorgan Chase Financial Company LLC is offering $4,510,000 of Trigger Autocallable GEARS linked to common stock of The Walt Disney Company, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each Security has a $10 principal amount and matures on August 9, 2029, unless automatically called earlier.
If Disney’s share price is at or above the Autocall Barrier of 100.00% of the $98.18 Initial Value on the Observation Date of August 12, 2027, holders receive a Call Price of $11.925 per $10 Security, reflecting a 19.25% Call Return, and no further payments. If not called and the Underlying Return at final valuation is positive, maturity payment equals principal plus the Underlying Return multiplied by an Upside Gearing of 1.55. If the Final Value is at or above the Downside Threshold of $73.64 (75.00% of Initial Value), principal is repaid; below that level investors bear full downside exposure and can lose all principal.
The Securities pay no interest and do not provide Disney dividends. Any payment depends on the creditworthiness of JPMorgan Financial and JPMorgan Chase & Co. The price to public is $10.00, including $0.25 in selling commissions to UBS, while the estimated value is $9.693 per $10 Security, reflecting embedded structuring and hedging costs.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing Capped Dual Directional Buffered Equity Notes linked to the S&P 500® Index. The notes are unsecured, pay no interest or dividends, and have minimum denominations of $10,000.
At maturity in February 2028, investors receive index-linked returns: if the S&P 500 rises, the payoff tracks the Index Return on an unleveraged basis, capped at 15.85% (maximum $1,158.50 per $1,000 note). If the Index falls by up to the 15.00% Buffer Amount, investors earn a positive return equal to the Absolute Index Return, up to a maximum negative-side payoff of $1,150.00 per $1,000.
If the Index declines by more than 15%, principal is lost on a leveraged basis: for every additional 1% decline beyond 15%, 1.17647% of principal is lost, potentially up to a total loss. The offering totals $1,350,000 at $1,000 per note, with selling commissions of $12.50 per note and issuer proceeds of $987.50 per note. The estimated value was $982.00 per $1,000 at pricing, reflecting internal funding and hedging costs. Repayment depends on the credit of both JPMorgan Financial and JPMorgan Chase & Co., and the notes will not be listed, so liquidity may be limited.
JPMorgan Chase Financial Company LLC is offering unsecured Auto Callable Contingent Interest Notes due September 5, 2031, linked to the MerQube US Large-Cap Vol Advantage Index and fully guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Payment on each Review Date only if the Index closes at or above 60% of its Initial Value (the Interest Barrier). They may be automatically called, starting August 31, 2027, if on a Review Date the Index is at or above its Initial Value, returning $1,000 per note plus that period’s contingent interest. If not called, at maturity investors receive $1,000 plus any final contingent interest when the Index is at or above a Trigger Value of 50% of the Initial Value; otherwise principal is reduced 1% for each 1% Index decline, with potential loss of all principal.
The Index uses leveraged E-mini S&P 500 futures with a 35% target volatility and up to 500% exposure, and is subject to a 6.0% per annum daily deduction, which drags performance versus a similar index without the fee. The minimum denomination is $1,000, and if priced on the described date the estimated value would be about $940 per $1,000, and will not be less than $900 per $1,000 when set. Investors face the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., no guaranteed interest, limited upside to interest coupons only, potential illiquidity, complex tax treatment and substantial risks from index leverage and volatility.
JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated Digital Buffered Notes linked to the Nasdaq-100 Index®, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a fixed Contingent Digital Return of 10.22% at maturity if the Ending Index Level is at or above the Index Strike Level, or down by as much as the 15.00% Buffer Amount. In those cases, investors receive $1,102.20 per $1,000 principal amount.
If the Index falls more than 15% from the Index Strike Level of 29,733.16, principal is lost on a leveraged basis: for each 1% decline beyond 15%, the loss is 1.17647% of principal, up to a total loss. The notes pay no interest or dividends and do not provide voting rights. The issue price is $1,000 per note, with $743,000 total offered, selling commissions of $10 per note and issuer proceeds of $990 per note; the estimated value is $983.30. The Valuation Date is August 17, 2027 and the Maturity Date is August 20, 2027, both subject to postponement. Payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co., and secondary market liquidity is not assured.
JPMorgan Chase Financial Company LLC is issuing structured notes linked to the lesser performer of the Nasdaq-100 Index® and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The total offering size is $900,000, in minimum denominations of $1,000.
At maturity on August 9, 2029, if both indices finish at or above 70.00% of their Initial Values, holders receive their principal plus either 1.1425x any positive return of the lesser-performing index or the absolute value of its loss (capped at a 30.00% gain, or $1,300 per $1,000 note, when the index return is negative). If either index closes below its 70.00% Barrier Amount, principal is exposed one-for-one to the decline of the lesser-performing index and investors can lose up to 100% of principal.
The notes pay no interest or dividends, are unsecured and unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and will not be listed on any exchange. The price to the public is $1,000 per note, including $8 in selling commissions, with an estimated value of $983.60 per $1,000 note at pricing.
JPMorgan Chase Financial Company LLC is offering $665,000 of structured Capped Notes linked to the S&P 500® Futures Excess Return Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on January 10, 2029 and do not pay periodic interest.
At maturity, investors receive $1,000 plus an Additional Amount based on 108.00% of the Index return, capped at a maximum total payment of $1,480.00 per $1,000 note (a 48.00% maximum gain). If the Index falls, principal is at risk down to a minimum of $900.00 per $1,000 note, so investors may lose up to 10.00% of principal.
The price to the public is $1,000 per note, including $27 in selling commissions, for issuer proceeds of $973 per note. The estimated value when issued was $962.20 per $1,000 note. The Initial Index Value on August 5, 2026 was 616.74. The notes are unsecured, unsubordinated obligations, not listed, and subject to JPMorgan credit risk, market risks tied to futures on the S&P 500, liquidity risk, and complex contingent payment debt instrument tax treatment.
JPMorgan Chase Financial Company LLC is offering $1,160,000 of structured notes linked to the S&P 500® Futures Excess Return Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and a 117.00% participation rate in positive Index performance.
The notes do not pay interest and are scheduled to mature on August 9, 2029, with an Observation Date of August 6, 2029. At maturity, investors receive $1,000 plus leveraged upside if the Index has risen, par if unchanged, or a reduced amount if it has fallen, but not less than $900 per $1,000 note, subject to the credit risks of JPMorgan Financial and JPMorgan Chase & Co. The Initial Index Value on the pricing date was 616.74.
The price to the public is $1,000 per note, including $29.50 in selling commissions and resulting in issuer proceeds of $970.50 per note. The estimated value at issuance is $962.70 per $1,000 note, reflecting internal funding rates and hedging costs. The notes are unsecured, unsubordinated obligations, will not be listed on any exchange and are intended to be held to maturity.
JPMorgan Chase Financial Company LLC is issuing $476,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Tech+ Vol Advantage Index, due August 8, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a 12.00% per annum Contingent Interest (3.00% quarterly) only on Review Dates when the Index closes at or above 60.00% of its Initial Value (the Interest Barrier), and may pay no interest.
The notes are automatically called if, on any Review Date from February 5, 2027 (excluding the first and final), the Index is at or above its Initial Value, returning $1,000 principal plus the applicable interest. If not called, and at maturity the Index is at or above the Trigger Value of 60.00% of Initial Value, investors receive principal plus the final interest; if below, repayment is $1,000 + $1,000 × Index Return, so principal loss can reach 100%.
The underlying Index targets 35% implied volatility with exposure ranging from 0% to 500%, and is reduced by a 6.0% per annum daily deduction plus a notional financing cost (SOFR + 0.50%), causing performance to lag a similar index without these charges. The price to public is $1,000 per note, including $42.75 in fees; issuer proceeds are $957.25 per note, and the initial estimated value is $907.90. The notes are unsecured, not FDIC insured, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and are expected to have limited or no secondary market liquidity.
JPMorgan Chase Financial Company LLC is issuing $2,295,000 of Auto Callable Accelerated Barrier Notes linked to the Nasdaq-100, Russell 2000 and S&P 500, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes price at $1,000 per note, with selling commissions of $29.50 and issuer proceeds of $970.50 per note; the estimated value at pricing is $951.20.
The notes may be automatically called on August 10, 2027 or August 7, 2028 if each Index is at or above its Call Value of 100% of its Initial Value, paying principal plus a fixed premium of 15.75% or 31.50%, respectively. If not called and on the final Review Date in 2029 all three Indices are above their Initial Values, investors receive an uncapped 1.5x leveraged return based on the least performing Index. If any Index is at or below its Initial Value but all remain at or above the Barrier Amount of 70% of Initial Value, principal is returned.
If any Index finishes below its Barrier Amount, repayment is reduced one-for-one with the decline of the least performing Index, down to a complete 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., and are not listed, so liquidity and secondary market prices may be limited.
JPMorgan Chase Financial Company LLC is issuing $522,000 of “Capped Dual Directional Buffered Return Enhanced Notes” linked to the least performing of the Nasdaq‑100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on February 10, 2028 and are offered in $1,000 minimum denominations.
At maturity, investors receive 1.50× any positive return of the least performing index, capped at a Maximum Upside Return of 26.25%. If the least performing index is flat or down by up to the 20.00% Buffer Amount, investors receive a positive, uncapped return equal to the absolute decline, up to a maximum of 20.00%. If any index falls by more than 20.00%, principal is reduced 1% for each 1% loss beyond the buffer, up to a maximum 80.00% loss, with a minimum payment of $200 per $1,000 note.
The notes pay no interest, provide no dividends, are unsecured and unsubordinated obligations of JPMorgan Financial and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. They are not listed, and secondary market liquidity may be limited. The estimated value at pricing was $987.60 per $1,000 note, below the $1,000 issue price.
JPMorgan Chase Financial Company LLC is offering $997,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co., maturing on August 8, 2029.
The notes pay a contingent coupon at 11.65% per annum (0.97083% monthly) only if, on a Review Date, the Index is at or above 70% of the Strike Value; missed coupons can be paid later if conditions are met. From August 3, 2027, the notes are automatically called if the Index is at or above the Strike Value, returning $1,000 plus due coupons and ending further payments.
If not called, principal is protected only if the Final Index Value is at or above the 50% Trigger Value; below that, maturity payment is $1,000 + ($1,000 × Index Return), so investors may lose a significant portion or all principal. The Index employs up to 500% leveraged exposure to E-mini S&P 500 futures, targets 35% volatility, and is reduced by a 6.0% per annum daily deduction, which drags performance. Per-note pricing is $1,000, with $8.50 in fees and an estimated value of $941.50, and the notes are unsecured obligations subject to JPMorgan credit risk.
JPMorgan Chase Financial Company LLC is issuing $4,605,000 of Auto Callable Contingent Interest Notes linked individually to the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a 9.20% per annum Contingent Interest Rate (0.76667% per month) only when, on a Review Date, each index is at or above its Interest Barrier of 70% of its Initial Value. From February 5, 2027 onward, the notes auto-call if each index is at or above its Initial Value, returning $1,000 plus interest. If not called, at maturity on August 9, 2029 investors receive par plus any final interest if each index is at or above its Trigger Value (68% of Initial Value); otherwise 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 $29.50 in selling commissions (proceeds to issuer $970.50), and the initial estimated value is $953.40 per note. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., offer no dividend rights, and are expected to have limited liquidity and potentially depressed secondary prices.
JPMorgan Chase Financial Company LLC is offering Digital Barrier Notes due February 17, 2028, linked to the least performing of the Dow Jones Industrial Average®, the Nasdaq‑100® Technology Sector and the Russell 2000® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay no coupons or dividends. At maturity, if the Final Value of each Index is at least its Barrier Amount of 60.00% of its Initial Value, investors receive a fixed Contingent Digital Return of 12.30%, for a total payment of $1,123.00 per $1,000 principal amount, regardless of how much the Indices rose.
If the Final Value of any Index is below its Barrier Amount, the protection falls away and repayment is linear to the downside: investors lose 1% of principal for each 1% decline in the Least Performing Index from its Initial Value, potentially losing all principal. The notes are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The minimum denomination is $1,000. If priced on the illustrated date, the estimated value would be about $973 per $1,000, and will not be less than $900 per $1,000 when set, reflecting embedded costs and dealer compensation.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Capped Dual Directional Buffered Return Enhanced Notes linked to the least performing of the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, maturing August 16, 2029. Each note has a $1,000 minimum denomination and pays no interest or dividends.
At maturity, investors gain 1.50x any positive return of the least performing index, capped at a Maximum Upside Return of at least 55.20%. If the least performing index is flat or down by up to the 20.00% Buffer Amount, the notes pay an absolute return up to a maximum of 20.00%. If any index falls by more than 20.00%, principal is reduced 1% for each 1% decline beyond 20%, for a maximum loss of 80.00%, leaving as little as $200 per $1,000 note.
The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. They will not be listed, and secondary prices are expected to be below the issue price. If priced on the example date, the estimated value would be about $964.20 per $1,000 note and will not be less than $900.00 per $1,000 at issuance.
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. Each note has a $1,000 principal amount and pays a monthly Contingent Interest Payment only when the Index closes on a Review Date at or above 65.00% of the Initial Value, the Interest Barrier.
The notes may be automatically called starting August 23, 2027 if, on specified Review Dates, the Index is at or above a Call Value equal to 90.00% of the Initial Value, in which case investors receive $1,000 plus the applicable contingent interest and no further payments. If the notes are not called and the Final Value is at least 65.00% of the Initial Value, investors receive $1,000 plus the final contingent interest; if the Final Value is below this Trigger Value, repayment is reduced one-for-one with the Index decline, down to zero, so investors can lose all principal.
The MerQube Index dynamically allocates up to 500% exposure to E-mini S&P 500 futures and is subject to a 6.0% per annum daily deduction, which drags performance versus an identical index without the charge. The indicative estimated value is approximately $950.00 per $1,000 note and will not be less than $930.00, reflecting embedded costs. The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. and will not be listed, so liquidity may be limited.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $636,000 of unsecured structured notes linked to the least performing of the Dow Jones Industrial Average, Nasdaq‑100 Index and Russell 2000 Index, maturing on August 9, 2029.
The notes pay no interest or dividends. At maturity, if every index finishes at or above its initial level, investors receive $1,000 plus a leveraged return of 106.70% of the least performing index’s gain. If any index is below its initial level, the payoff is $1,000 plus the least performing index return, but not less than $950 per $1,000, so investors may lose up to 5% of principal.
The price to public is $1,000 per note, including selling commissions of $29.50, with proceeds to the issuer of $970.50. The estimated value is $959.40 per $1,000 note, reflecting structuring and hedging costs. The notes are treated as contingent payment debt instruments for U.S. tax purposes, using a 4.31% comparable yield and projected maturity payment of $1,136.42. Credit risk of JPMorgan Financial and JPMorgan Chase & Co., limited liquidity and index‑performance dependence are key risks.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering market-linked securities providing leveraged upside and contingent downside protection tied to the lowest performing of the S&P 500 Index and the Dow Jones Industrial Average, maturing on August 16, 2029, with a principal amount of $1,000 per security.
At maturity, investors receive $1,000 plus upside based on the lowest index if it finishes above its starting level, using an upside participation rate of at least 120.60%. If the lowest index ends between its starting level and its threshold level of 75% of the starting level, principal is repaid. If it finishes below the threshold, repayment is reduced one-for-one with the index loss, exposing investors to losses greater than 25%, up to total loss of principal. The indicative estimated value is about $960.10 per $1,000 security and will not be less than $930.00, reflecting selling commissions of $28.25 and hedging and structuring costs.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $1,653,000 of unsecured Review Notes linked individually to the Nasdaq‑100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, maturing on August 9, 2029.
The notes may be automatically called on scheduled Review Dates starting August 9, 2027 if each index is at or above its Call Value (100% of its Initial Value), paying back $1,000 plus a fixed Call Premium of 17.20% to 51.60% of principal depending on the call date. If not called and any index finishes below its Barrier Amount of 70.00% of Initial Value, repayment of principal is reduced one‑for‑one with the decline of the Least Performing Index, down to a total loss.
The notes pay no interest or dividends, are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and will not be listed on any exchange. The price to public is $1,000 per note, including $6 in selling commissions, and the estimated value at pricing was $986.60 per $1,000 note.
JPMorgan Chase Financial Company LLC is offering $250,000 of unsecured, unsubordinated Callable Contingent Interest Notes, fully and unconditionally guaranteed by JPMorgan Chase & Co., linked individually to the Nasdaq‑100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, maturing August 8, 2031.
The notes pay a contingent interest rate of 11.50% per annum (0.95833% per month) only for Review Dates when each index closes at or above 70% of its Initial Value (Interest Barrier). Early redemption is at the issuer’s option on certain Interest Payment Dates from February 10, 2027 onward. If held to maturity and not redeemed early, full principal is repaid only if each index’s Final Value is at or above its Trigger Value of 60% of Initial Value; otherwise repayment is reduced one‑for‑one with the decline of the Least Performing Index, down to a total loss.
The price to public is $1,000 per note, including $5 in selling commissions, for $995 in proceeds to the issuer. The issuer’s estimated value is $976.20 per $1,000 note, reflecting embedded costs and hedging. The notes are not insured, will not be listed, and their value and tax treatment (including for Non‑U.S. Holders and potential Section 871(m) implications) involve significant risks.
JPMorgan Chase Financial Company LLC is offering Digital Equity Notes due October 18, 2028, linked to the S&P 500® Index and fully guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount, is issued at 100% of principal with no underwriting commission, and will not bear interest.
At maturity, investors receive a cash payment based on S&P 500 performance from the trade date to October 16, 2028. If the final index level is at least 85% of the initial level, payment is the threshold settlement amount, expected between $1,168.90 and $1,198.60 per $1,000, effectively capping upside (with an expected cap level between 116.89% and 119.86% of the initial level).
If the index declines by more than 15%, principal is lost on a leveraged basis: for each 1% drop beyond 15%, investors lose about 1.1765% of principal, down to a total loss. The estimated value at issuance is expected between $974.30 and $984.30 per $1,000, below issue price, and secondary market liquidity is not assured. Payments are subject to the credit risk of both the issuer and guarantor, and the U.S. tax treatment is uncertain.