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 Financial Company LLC is offering $530,000 of Auto Callable Accelerated Barrier Notes linked to the least performing of the Nasdaq-100 Index, the Russell 2000 Index and the S&P 500 Index, due August 8, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes are issued in $1,000 denominations, pay no interest and do not pass through index dividends. They may be automatically called on August 9, 2027 if each index is at or above its Call Value, in which case investors receive $1,000 plus a $200 Call Premium per note. If not called and each index finishes above its Initial Value at maturity, investors receive 2.00 times the appreciation of the least performing index. If any index finishes at or below its Initial Value but at or above its 70% Barrier Amount, principal is returned. If any index closes below its Barrier Amount, repayment is reduced 1% for each 1% decline in the least performing index, down to total loss of principal.
The price to public is $1,000 per note, including $11 in selling commissions, for issuer proceeds of $989 per note. The estimated value is $975.30 per note, reflecting internal funding and hedging costs. The notes are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. and will not be listed; secondary market liquidity may be limited.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto-callable contingent interest notes linked to the common stock of Chipotle Mexican Grill, Inc. The notes pay a Contingent Interest Payment of at least $30.325 per $1,000 on each Review Date only if Chipotle’s share price is at or above a 70.00% Interest Barrier of the Stock Strike Price; missed coupons can be paid later if the barrier is subsequently met.
The notes may be automatically called on any non-final Review Date starting November 19, 2026 if the stock closes at or above the Stock Strike Price, returning $1,000 plus the current and any unpaid coupons. If the notes are not called and the Final Stock Price is at least 70.00% of the Stock Strike Price, investors receive full principal plus the final and any unpaid coupons at maturity.
If a Buffer Event occurs (Final Stock Price below 70.00% of the Stock Strike Price), principal is reduced by 1.42857% for every 1% decline beyond the 30.00% buffer, so investors can lose some or all principal. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The indicative estimated value is about $984.30 per $1,000, and will not be less than $960.00 when finalized.
JPMorgan Chase Financial Company LLC is offering callable contingent interest notes due August 30, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent quarterly coupon of at least 3.0375% (at least 12.15% per annum) per $1,000 only if, on each Review Date, the S&P 500, EURO STOXX 50 and Nikkei 225 are all at or above 70% of their Initial Values, which also serve as Trigger Values.
The issuer can redeem the notes early, in whole, on any Interest Payment Date from March 3, 2027 (except the first and final dates), paying $1,000 plus any due coupon. If the notes are not redeemed and any Index finishes below its Trigger Value at final valuation, the maturity payment is reduced by the decline of the Least Performing Index, and investors may lose more than 30% and up to all principal. The notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing would be about $963.40 per $1,000, and will not be less than $940.00.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the common stock of Caterpillar Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination and can pay a contingent interest rate of at least 15.00% per annum (at least $37.50 per quarter) if Caterpillar’s share price on a Review Date is at least 60.00% of the Initial Value, which also serves as the Trigger Value.
The notes may be automatically called on any Review Date other than the first and final if the stock closes at or above the Initial Value, returning $1,000 plus due and unpaid contingent interest. If not called and the Final Value is at or above the Trigger Value, holders receive $1,000 plus all applicable contingent interest. If the Final Value is below the Trigger Value, repayment is reduced one-for-one with the stock decline, and investors can lose more than 40% and up to all principal.
The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial, subject to the credit risk of both the issuer and JPMorgan Chase & Co. Estimated value, if priced on the described date, is about $960 per $1,000 note and will not be less than $940, reflecting embedded costs, fees and hedging. The notes will not be listed, and secondary market prices are expected to be below the original issue price.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the common stock of Generac Holdings Inc. (GNRC), fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and pays a contingent interest rate of at least 15.00% per annum, or at least 3.75% per quarter, only if on a Review Date the Generac share price is at or above the Interest Barrier, set at 41.50% of the Initial Value. Missed interest can be paid later if the barrier is met on a future Review Date.
The notes may be automatically called on any Review Date other than the first and final if the stock closes at or above the Initial Value, with investors receiving $1,000 plus applicable contingent interest and any unpaid interest. If not called and the Final Value on August 7, 2028 is at or above the Trigger Value (also 41.50% of Initial Value), investors receive principal plus the final and any unpaid contingent interest. If the Final Value is below the Trigger Value, the payoff is $1,000 + ($1,000 × Stock Return), exposing holders to losses greater than 58.50% and potentially a total loss of principal. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated value, if priced today, would be about $960.00 per $1,000 note and will not be less than $940.00 per $1,000 at pricing.
JPMorgan Chase Financial Company LLC is issuing structured Capped Buffered Return Enhanced Notes linked to the State Street Consumer Staples Select Sector SPDR ETF (XLP), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes provide 1.50x leveraged upside to any ETF appreciation, capped at a maximum return of at least 45.50%, corresponding to a maximum payment of at least $1,455 per $1,000 note.
A 20.00% buffer protects principal against moderate declines, but if the ETF falls by more than 20%, losses accelerate at a 1.25x downside leverage, so investors can lose some or all principal at maturity on August 10, 2029. The notes pay no interest, pass through no ETF dividends and are unsecured obligations subject to the credit risk of both the issuer and guarantor. Minimum denomination is $1,000. The indicative estimated value is about $970 per $1,000 note and will not be less than $950, reflecting embedded selling commissions, hedging costs and issuer funding spreads. The notes will not be listed, may be illiquid, may be accelerated if the ETF is discontinued, and have complex U.S. tax treatment as prepaid financial contracts with potential “constructive ownership” implications.
JPMorgan Chase Financial Company LLC is offering capped buffered enhanced participation equity notes due September 15, 2028, linked to the MSCI EAFE® Index and fully guaranteed by JPMorgan Chase & Co. The notes pay no interest and are not listed on any exchange.
At maturity, for each $1,000 note you receive: full principal if the index is flat or down by up to 15%; if it is up, you gain 1.60x the index return, capped at a maximum settlement amount of $1,252.48–$1,296.96. If the index falls more than 15%, losses are leveraged at about 1.1765x, up to a full loss of principal. The expected estimated value is $976.10–$986.10 per $1,000, reflecting structuring and hedging costs. Payments depend on the credit of both JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering Uncapped Buffered Digital Notes linked to the lesser performing of the Nasdaq-100 Index and the Russell 2000 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a 10% downside buffer and a Contingent Digital Return of at least 15.50%, payable at maturity if both indices finish at or above their initial levels; beyond that, upside is uncapped and follows the lesser performer. If either index falls more than 10%, principal is reduced 1% for each 1% decline beyond the buffer, up to a 90% loss of principal at maturity. The minimum denomination is $1,000, pricing is expected on or about August 11, 2026, and maturity is scheduled for September 16, 2027. Any payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co., and the notes pay no interest or dividends and will not be listed on an exchange.
JPMorgan Chase Financial Company LLC is offering Callable Contingent Interest Notes due August 19, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination and pays a monthly Contingent Interest Payment only if, on the relevant Review Date, the Dow Jones Industrial Average, Nasdaq-100 Index and Russell 2000 Index are each at or above 70.00% of their Initial Value, the Interest Barrier. The Contingent Interest Rate will be at least 7.80% per annum (0.65% per month). The notes may be redeemed early, in whole, at the issuer’s option on designated Interest Payment Dates, starting August 19, 2027, at $1,000 plus any due contingent interest.
If not called, at maturity investors receive $1,000 plus the final contingent coupon if each index is at or above its Trigger Value of 60.00% of Initial Value. If any index is below its Trigger Value, principal is reduced 1% for each 1% decline of the Least Performing Index, down to a possible full loss. The indicative estimated value is $927.90 per $1,000 note and will not be less than $900.00, reflecting built-in selling, structuring and hedging costs. The notes are unsecured, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., will not be listed, may have limited or no liquidity, and offer no participation in index gains or dividends.
JPMorgan Chase Financial Company LLC is offering Capped Dual Directional Buffered Return Enhanced Notes due August 15, 2028, linked to the least performing of the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.
At maturity, investors receive 1.50 times any positive return of the least performing index, capped at a Maximum Upside Return of at least 28.40%, or a positive, uncapped return equal to the absolute value of any decline up to a 20.00% Buffer Amount. If the least performing index falls by more than 20.00%, principal is reduced 1:1 beyond the buffer, with up to an 80.00% loss of principal.
The notes pay no interest or dividends, are unsecured and unsubordinated obligations of JPMorgan Financial and are not listed on any exchange. If priced on the reference date, the estimated value would be approximately $967.80 per $1,000 note and will not be less than $900.00 per $1,000 at pricing. U.S. tax counsel views the notes as prepaid financial contracts treated as open transactions, though the IRS could assert a different treatment, and the issuer currently expects Section 871(m) withholding rules will not apply to Non-U.S. Holders.
JPMorgan Chase Financial Company LLC plans to issue Uncapped Accelerated Barrier Notes due August 19, 2030, linked to the least performing of the Dow Jones Industrial Average®, the Nasdaq‑100 Index® and the Russell 2000® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes offer an upside leverage factor of 1.98 on any appreciation of the least performing index at maturity, with minimum denominations of $1,000, but pay no interest or dividends and expose holders to loss of some or all principal if any index finishes below its barrier. The barrier for each index is set at 60% of its initial level; if any final level is below this barrier, repayment of principal is reduced one‑for‑one with the decline of the least performing index. If all final levels are at or above their barriers and at least one index has appreciated, investors receive leveraged upside; if all are at or above their barriers but not higher than initial levels, investors receive return of principal only. The estimated value is indicated at approximately $977.40 per $1,000 note if priced today and will not be less than $900.00 per $1,000 at pricing, reflecting selling, structuring and hedging costs and the issuer’s internal funding rate.
JPMorgan Chase Financial Company LLC is offering Capped Dual Directional Buffered Equity Notes linked to the S&P 500® Index, maturing on August 17, 2028, in $1,000 minimum denominations. The notes provide unleveraged exposure to index gains, capped at a Maximum Upside Return of at least 19.05%.
If the index is flat or down by up to the 20.00% Buffer Amount, investors receive a positive return equal to the absolute index decline, up to a maximum payment of $1,200 per $1,000. If the index falls by more than 20.00%, principal is reduced 1:1 beyond the buffer, with a minimum repayment of $200 per $1,000, implying up to an 80.00% loss of principal.
The notes pay no interest, provide no dividends, are unsecured and unsubordinated obligations of JPMorgan Financial and are fully and unconditionally guaranteed by JPMorgan Chase & Co., exposing holders to both entities’ credit risk. They are not bank deposits, are not FDIC insured, and will not be listed, so liquidity depends on dealer trading. If priced on the described date, the estimated value would be about $986.20 per $1,000, and will not be less than $900.00 at issuance.
JPMorgan Chase Financial Company LLC is offering Structured Investments Review Notes due August 19, 2030, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked to the least performing of the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index.
The notes may be automatically called on any Review Date starting August 18, 2027 if each Index closes at or above its Call Value of 100% of Initial Value, paying $1,000 plus a Call Premium of at least 11.0500% to 44.2000% of principal, depending on the Review Date. If not called and the Final Value of each Index is at or above its Barrier Amount of 70% of Initial Value, investors receive principal back at maturity.
If the notes are not called and the Final Value of any Index is below its Barrier Amount, repayment is $1,000 + ($1,000 × Least Performing Index Return), exposing investors to losses greater than 30% and potentially a full 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 bank deposits or FDIC insured. The indicative estimated value is approximately $934.90 per $1,000 note and will not be less than $900.00 per $1,000 when set, reflecting embedded fees and hedging costs.
JPMorgan Chase Financial Company LLC is offering callable contingent interest notes due May 18, 2028, linked to the least performing of the Dow Jones Industrial Average, Russell 2000 Index and S&P 500 Index, 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; otherwise no interest is paid for that period. The issuer may redeem the notes early, in whole, on specified Interest Payment Dates starting November 19, 2026, paying $1,000 per note plus any due contingent interest.
If the notes are not redeemed and on the final Review Date any Index ends below its Trigger Value (also 70.00% of Initial Value), repayment of principal is reduced 1% for each 1% decline of the Least Performing Index, down to a possible total loss of principal. The notes are unsecured, not insured, will not be listed, and their value and payments are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering Capped Buffered Enhanced Participation Notes due February 8, 2028, linked to the SPDR® Gold Trust and fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and pays no interest.
The payoff depends on GLD’s performance from the August 4, 2026 strike date to the February 4, 2028 determination date. Investors receive 1.5× any positive underlier return, capped at a maximum settlement amount expected to be at least $1,245.10 per $1,000 note. A 10% buffer applies on the downside: if GLD is down 10% or less, principal is returned; below that level, losses are magnified by a buffer rate of about 1.1111, and principal can be fully lost.
The estimated value at issuance is expected between $973.90 and $983.90 per $1,000, below the issue price due to selling commissions, hedging costs and structuring fees. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., will not be listed, and may have limited or no secondary market liquidity.
JPMorgan Chase Financial Company LLC is issuing $12,609,000 of Auto Callable Yield Notes linked to the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay interest at 10.35% per annum, or $8.625 per $1,000 monthly, so long as the notes remain outstanding. They may be automatically called as early as February 4, 2027 if each index is at or above its Initial Value, returning $1,000 plus the applicable interest payment.
If not called, principal repayment at maturity on February 9, 2028 depends on the Least Performing Index. If any index ends below its Trigger Value of 70% of Initial Value, investors lose 1% of principal for each 1% decline in the least-performing index and can lose their entire investment. The notes are unsecured, not FDIC insured, and subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing was $983.50 per $1,000, below the issue price, reflecting selling, structuring and hedging costs.
JPMorgan Chase Financial Company LLC is offering Auto Callable Buffered Return Enhanced Notes linked to the Nasdaq-100 Index®, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called on August 12, 2027 if the Index is at or above the Call Value, paying $1,000 plus a Call Premium Amount of at least $143.50 per $1,000 note.
If not called and the Index has risen at maturity in 2030, investors receive 1.40 times any positive Index return; if the Index is flat or down by up to the 20% Buffer Amount, principal is returned. Below the buffer, losses accelerate at a 1.25x Downside Leverage Factor, so some or all principal can be lost. The minimum denomination is $1,000, the notes pay no interest or dividends, are unsecured and unsubordinated, and are not listed. The indicative estimated value is about $991.60 per $1,000 note and will not be less than $970.00 per $1,000 when set, reflecting structuring and hedging costs.
JPMorgan Chase Financial Company LLC is offering $69,215,000 of S&P 500®-linked Digital Equity Notes due May 11, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and pays no interest.
At maturity, if the S&P 500 final level is at least 90.00% of the initial level of 7,736.52, investors receive a fixed $1,155.90 per $1,000 note, capped at a 15.59% gain. If the index falls more than 10%, principal loss is leveraged at about 1.1111% for each additional 1% decline, down to a possible total loss.
The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not FDIC insured, and will not be listed on an exchange. The estimated value at pricing was $981.10 per $1,000, below the issue price, reflecting fees, hedging costs and dealer compensation. Liquidity and U.S. tax treatment, including potential changes for prepaid contracts, are key risks.
JPMorgan Chase Financial Company LLC is offering Auto Callable Buffered Equity Notes linked to the S&P 500® Futures Excess Return Index, fully guaranteed by JPMorgan Chase & Co. The notes are due August 29, 2031 and are issued in minimum denominations of $1,000.
On the September 1, 2027 Review Date, if the Index is at or above a Call Value, the notes are automatically called and pay $1,000 plus a Call Premium of at least $165 per note, with no further payments. If not called, at maturity investors receive uncapped, unleveraged Index upside; principal is protected only for the first 10.00% decline (Buffer Amount), after which losses increase 1% for every additional 1% Index decline, up to a 90.00% loss of principal.
The notes pay no interest, are unsecured and unsubordinated obligations of JPMorgan Financial, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. If priced on the illustrated date, estimated value would be about $940 per $1,000 note and will not be less than $900. The product is not a futures contract, is not regulated under the Commodity Exchange Act, may be illiquid, and has complex tax and secondary-market valuation characteristics.
JPMorgan Chase Financial Company LLC is offering $3,990,000 of Medium‑Term Notes, Series A, Digital Equity Notes due August 7, 2028, linked to the Russell 2000® Index and fully guaranteed by JPMorgan Chase & Co. The notes are issued at 100% of principal, pay no interest, are not listed, and are subject to the credit risk of both the issuer and guarantor.
For each $1,000 note, if the final Russell 2000 level on August 3, 2028 is at least 85% of the initial level of 3,036.975, investors receive a fixed threshold settlement amount of $1,183 (an 18.3% maximum gain). If the index falls more than the 15% buffer, principal is lost on a leveraged basis at about 1.1765% per additional 1% decline, down to a potential total loss.
The estimated value at pricing is $979.40 per $1,000, below issue price, reflecting selling commissions of 1.47% and structuring and hedging costs; net proceeds are 98.53% of principal. The notes are treated, in counsel’s opinion, as prepaid open transactions for U.S. tax purposes, but the tax outcome is uncertain and could be affected by future IRS guidance.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes due August 23, 2029, linked to the common stock of Merck & Co., Inc. and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Payment on each Review Date only if Merck’s closing share price is at or above 70.00% of the Initial Value, the Interest Barrier; missed coupons can be paid later if conditions are met. The notes are automatically called, starting February 22, 2027, if Merck’s price on a Review Date (other than the first and final) is at or above the Initial Value, returning $1,000 per note plus due coupons.
If not called and the Final Value is below the Trigger Value (also 70.00% of the Initial Value), repayment at maturity is $1,000 + ($1,000 × Stock Return), so investors can lose a significant portion or all of principal. The minimum denomination is $1,000. If priced today, the estimated value would be about $960 per $1,000, and will not be less than $940 per $1,000, reflecting embedded fees and hedging costs. Payments depend on both JPMorgan Financial’s and JPMorgan Chase & Co.’s credit and the notes will not be listed, so liquidity may be limited.
JPMorgan Chase Financial Company LLC is issuing $1,616,000 of Auto Callable Yield Notes linked to the least performing of the Nasdaq‑100, Russell 2000 and S&P 500 indices, due February 9, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay interest at 8.30% per annum, or 0.69167% per month, so long as they are outstanding. They are automatically called if, on any of 13 scheduled review dates starting February 4, 2027, the closing level of each index is at or above its initial value, in which case investors receive $1,000 plus the applicable monthly interest and no further payments.
If not called and, on the final review date, every index is at or above 70% of its initial value, investors receive full principal plus final interest. If any index is below its 70% trigger, maturity payment per $1,000 equals $1,000 plus $1,000 times the least-performing index return, leading to losses of more than 30% and potentially all principal. The notes are unsecured, unsubordinated obligations subject to the credit risk of both the issuer and guarantor. The estimated value is $966.10 per $1,000, below the issue price, reflecting selling commissions, hedging costs and issuer funding assumptions.
JPMorgan Chase Financial Company LLC is issuing $507,000 of Uncapped Accelerated Barrier Notes linked to an unequally weighted basket of the S&P 500® Futures Excess Return Index, the MSCI EAFE® Index and the iShares® MSCI Emerging Markets ETF, guaranteed by JPMorgan Chase & Co. The basket weights are 65.00%, 25.00% and 10.00%, respectively, with an Initial Basket Value of 100.00.
At maturity on August 7, 2031, investors receive $1,000 plus 1.98x any positive Basket Return. If the Final Basket Value is at or above the Barrier Amount of 80.00, principal is returned. If it is below the Barrier Amount, repayment is $1,000 plus Basket Return, so losses match the basket decline and investors can lose up to all principal.
The notes pay no interest or dividends, are unsecured and unsubordinated obligations of JPMorgan Financial and are subject to the credit risk of both the issuer and guarantor. The price to public is $1,000 per note, including $2.50 in selling commissions, while the estimated value at pricing is $980.60 per $1,000, reflecting embedded costs and issuer funding assumptions. The notes will not be listed, and secondary market prices are expected to be lower than the original issue price.
JPMorgan Chase Financial Company LLC is offering Uncapped Accelerated Barrier Notes due August 26, 2031, linked to the lesser performing of the Nasdaq-100 Index® and the S&P 500® Index, in minimum denominations of $1,000. The notes provide an uncapped leveraged upside, paying at maturity 1.35 times any positive return of the lesser performing index. If either index finishes between its initial level and a Barrier Amount of 75% of its initial level, principal is returned. If either index ends below its barrier, principal is reduced one-for-one with the decline of the lesser performing index, down to a total loss. The notes pay no interest or dividends and are unsecured obligations of JPMorgan Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., exposing investors to both entities’ credit risk. An indicative estimated value is about $970 per $1,000 note and will not be less than $950 at pricing, reflecting embedded costs and hedging.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the common stock of ServiceNow, Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and matures on August 10, 2028, unless called earlier.
The notes pay a contingent interest rate of at least 15.00% per annum (at least 1.25% per month) only if, on a Review Date, ServiceNow’s share price is at or above an Interest Barrier of 41.00% of the Initial Value; missed coupons are paid later if a future Review Date meets the barrier. The notes may be automatically called on specified Review Dates starting February 8, 2027 if the stock closes at or above the Initial Value, returning $1,000 plus applicable interest.
If the notes are not called and the Final Value is below the Trigger Value (41.00% of the Initial Value), repayment at maturity is reduced by the full negative stock return, and investors can lose more than 59% and up to all principal. The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The indicative estimated value is about $960 per $1,000 note and will not be less than $940 when set, and the notes are not expected to be listed, so liquidity may be limited.
JPMorgan Chase Financial Company LLC plans to issue uncapped accelerated barrier notes linked to the lesser performer of the Dow Jones Industrial Average® and the S&P 500® Index, maturing on August 26, 2031 and fully guaranteed by JPMorgan Chase & Co. The notes pay no interest and provide no dividends, and any payment depends on the indices and the issuers’ credit.
At maturity, if both indices finish above their initial levels, holders receive $1,000 plus 1.425× the appreciation of the lesser performing index. If either index is at or below its initial level but both remain at or above the Barrier Amount of 75% of initial, principal is returned. If either index closes below its barrier, repayment is reduced 1% for each 1% decline of the lesser performer from its initial level, potentially down to zero. The preliminary estimated value is about $970 per $1,000 note and will not be less than $950 at pricing, reflecting embedded fees, hedging costs and dealer profits. The notes are unsecured, not listed, may be hard to sell at fair value, and carry complex tax treatment, including reliance on an internal funding rate and expectations that Section 871(m) withholding will not apply to most non‑U.S. holders.
JPMorgan Chase Financial Company LLC is offering structured Capped Buffered Return Enhanced Notes linked to the S&P 500® Index, due August 25, 2027, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes provide 2.00x any positive Index performance at maturity, capped at a Maximum Return of at least 12.10% per $1,000 note. A 10.00% Buffer Amount protects against moderate declines: if the Index is flat or down by up to 10.00%, investors receive back principal.
If the Index falls by more than 10.00%, investors lose 1% of principal for each 1% decline beyond the buffer, up to a maximum loss of 90.00%, so payments at maturity can be as low as $100.00 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. The indicative estimated value is approximately $995.20 per $1,000 note if priced on the described date, and will not be less than $970.00 per $1,000 note when set, reflecting structuring and hedging costs. The notes will not be listed on any securities exchange, and secondary market prices are expected to be below the original issue price.
JPMorgan Chase Financial Company LLC is offering Uncapped Buffered Return Enhanced Notes linked to the S&P 500® Futures Excess Return Index, due September 5, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes provide an uncapped leveraged upside of at least 2.093x any positive Index return at maturity and a 20.00% downside buffer. If the Index falls by more than 20.00%, investors lose 1% of principal for each 1% decline beyond the buffer, up to a maximum loss of 80.00% of principal.
The notes pay no interest, are unsecured and unsubordinated, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. Minimum denomination is $1,000. If priced today, the estimated value would be about $976 per $1,000 note and will not be less than $940 at pricing, which is lower than the issue price due to selling, structuring and hedging costs. The Index tracks a rolling position in E-mini® S&P 500® futures, with risks from futures market volatility, negative roll returns, potential trading limits, lack of liquidity in the notes, and uncertain, evolving U.S. tax treatment.
JPMorgan Chase Financial Company LLC is issuing $750,000 of auto callable contingent interest notes linked to the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a 9.75% per annum Contingent Interest (0.8125% per month) on any Review Date where the closing level of each Index is at or above 70% of its Initial Value (the Interest Barrier). The notes may be automatically called, starting February 4, 2027, if on certain Review Dates each Index is at or above its Initial Value, in which case investors receive $1,000 plus the applicable Contingent Interest and no further payments.
If the notes are not called, at maturity investors receive $1,000 plus any final Contingent Interest if each Index is at or above its 60% Trigger Value; otherwise principal is reduced 1% for every 1% decline of the Least Performing Index from its Initial Value, potentially down to zero. The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., offered at $1,000 per note with an estimated value of $972.40.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is issuing market-linked, auto-callable securities linked to the common stock of Oracle Corporation, with a principal amount of $1,000 per security and an aggregate offering of $500,000, maturing on August 9, 2029.
The notes may be automatically called on August 9, 2027 if Oracle’s stock closes at or above the call value of $103.896 (80% of the $129.87 starting price), paying $1,421.50 per security, which includes a 42.15% call premium. If not called, at maturity investors receive $1,000 plus 150% of any positive stock return; $1,000 if the ending price is between the starting price and the threshold price of $77.922 (60% of starting); and full downside exposure if the ending price is below the threshold.
The price to the public is $1,000, including $15.75 in selling commissions and other costs, with net proceeds of $984.25 per security and an estimated value of $964.90 at pricing. The securities are unsecured obligations, not bank deposits or FDIC insured, may have limited or no secondary market, and can result in loss of more than 40%, up to all, of principal.
JPMorgan Chase Financial Company LLC plans to issue Capped Buffered Enhanced Participation Equity Notes due 2027, linked to the S&P 500® Index and fully guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and pays no interest.
At maturity on December 8, 2027, the cash payment per $1,000 note depends on index performance from the trade date to the determination date. If the index rises, holders receive 1.40x the positive index return, capped at a maximum settlement amount expected between $1,165.48 and $1,194.60. If the index falls by up to 10%, principal is returned. Below a 90% buffer level, losses accelerate at about 1.1111% of principal for each additional 1% index decline, and investors can lose all principal.
The notes will be sold at 100% of principal, with no underwriting commission, and an expected estimated value of $982.80–$992.80 per $1,000 note, reflecting structuring 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, have no redemption feature, and may have limited or illiquid secondary trading. The issuer highlights complex and uncertain U.S. tax treatment, potential conflicts of interest in pricing and hedging, and the risk of substantial loss if the S&P 500 declines beyond the 10% buffer.
JPMorgan Chase Financial Company LLC is issuing $6,656,000 of Callable Fixed Rate Notes due February 6, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay fixed interest at 5.00% per annum, using a 30/360 day count, with interest payable in arrears on August 6, 2027, August 6, 2028 and at maturity, subject to any earlier redemption. The issuer may, at its option, redeem the notes in whole (but not in part) on the 6th calendar day of February, May, August and November from February 6, 2027 through November 6, 2028 at par plus accrued interest, following a notice period of at least five business days. The price to the public is $1,000 per note, including selling commissions of $1.021 per $1,000 and resulting in issuer proceeds of $998.979 per $1,000 note.
JPMorgan Chase Financial Company LLC is offering $11,990,000 of Medium-Term Notes, Series A, Digital Buffered Equity Notes due December 22, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked to an unequally weighted basket of five non-U.S. equity indices and do not bear interest.
The basket has an initial level of 100 and weights of 40% EURO STOXX 50, 25% TOPIX, 17% FTSE 100, 11% Swiss Market Index and 7% S&P/ASX 200. At maturity, for each $1,000 note investors receive: if the basket return is sufficiently positive, the greater of $1,248.50 or $1,000 plus the basket return; if the basket is between 87.50% and 100% of its initial level, $1,000; and if it falls below 87.50%, a leveraged loss of about 1.1429% for each 1% decline beyond the 12.50% buffer, down to zero.
The estimated value when issued is $986.50 per $1,000, reflecting structuring and hedging costs. The notes are unsecured obligations of JPMorgan Financial, guaranteed by JPMorgan Chase & Co., not listed on any exchange, not FDIC insured, and subject to complex U.S. tax and Section 871(m) considerations and to the credit risks of both entities.
JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated Uncapped Buffered Return Enhanced Notes linked to the S&P 500® Futures Excess Return Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are designed for investors seeking leveraged exposure at maturity.
At maturity, investors receive 1.6725× any positive Index return, with no cap. A 30.00% Buffer Amount protects principal against moderate declines; if the Index falls more than 30.00%, principal is reduced 1% for each additional 1% decline, resulting in up to a 70.00% loss (minimum repayment $300 per $1,000).
The notes pay no interest, are not bank deposits, and carry the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. They will not be listed, so liquidity depends on J.P. Morgan Securities LLC making a market. The estimated value, if priced today, is about $940 per $1,000 note and will not be less than $920 per $1,000 when set, reflecting embedded structuring, hedging and distribution costs. The payoff also depends on futures-specific factors, including potential negative roll returns and differences between futures and the underlying equity index, and the tax treatment relies on an open-transaction approach that could change with future IRS guidance.
JPMorgan Chase Financial Company LLC is issuing $725,000 in Auto Callable Dual Directional Accelerated Barrier Notes linked to the common stock of Oracle Corporation, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are unsecured, unsubordinated obligations with a minimum denomination of $1,000, priced on August 4, 2026 and expected to settle on or about August 7, 2026, and maturing on August 9, 2028, subject to early automatic call or acceleration.
The notes may be automatically called on August 10, 2027 if Oracle’s share price is at or above the Call Value, returning $1,389 per $1,000 note (principal plus a $389 Call Premium Amount). If not called, investors receive at maturity either 1.50x Oracle’s positive stock return, or the absolute value of a negative return up to a 50.00% decline, provided the Final Value stays at or above the Barrier Amount of 50.00% of the Initial Value of $145.74. If the Final Value is below the Barrier Amount, principal is exposed one-for-one to Oracle’s decline and investors can lose up to all of their investment. The estimated value at pricing was $967.80 per $1,000 note, below the $1,000 issue price, reflecting embedded selling, structuring and hedging costs.
JPMorgan Chase Financial Company LLC is offering $500,000 of Auto Callable Accelerated Barrier Notes linked to the least performing of Microsoft, Amazon, Broadcom and Alphabet Class A, due August 9, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes are sold in $1,000 denominations at 100% of principal, with dealer selling commissions of $4 per note and issuer proceeds of $996 per note. They pay no interest or dividends and are unsecured, unsubordinated obligations exposed to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and are not FDIC insured or exchange-listed.
The notes may be automatically called as early as November 4, 2026 if each stock is at or above its Call Value, paying $1,700 per $1,000 note (principal plus a $700 call premium). If not called, at maturity investors receive 3.00 times any positive performance of the least performing stock, full principal back if all stocks stay at or above a 70.00% barrier, and otherwise 1-for-1 downside to the least performing stock, with the potential for a complete loss of principal. The issuer’s estimated value is $940 per $1,000 note, below the issue price due to selling, structuring and hedging costs.
JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes linked to the MerQube US Tech+ Vol Advantage Index, fully guaranteed by JPMorgan Chase & Co. The Index provides rules-based leveraged exposure (0% to 500%) to an unfunded total-return position in the Invesco QQQ Trust, reduced by a 6.0% per annum daily fee and a notional financing cost.
The notes pay a contingent interest rate of at least 10.00% per annum, credited monthly only when the Index on a review date is at or above an interest barrier equal to 85.00% of the initial value. They are subject to monthly automatic call if the Index is at or above 95.00% of the initial value, returning principal plus applicable contingent interest and any unpaid prior contingent interest.
If not called, at maturity on July 31, 2029 investors receive principal plus applicable contingent interest if the final Index value is at or above the 15.00% buffer threshold; below this level, principal is reduced on a leveraged basis, and some or most of the investment may be lost. The minimum denomination is $1,000, and the issuer’s estimated value will not be less than $900 per $1,000 note. All payments depend on the credit of JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co., and the product involves multiple market, structural and conflict-of-interest risks.
JPMorgan Chase Financial Company LLC is issuing $974,000 of Uncapped Accelerated Barrier Notes linked to the Invesco S&P 500® Equal Weight ETF (RSP), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes offer 1.11x leveraged upside participation in any appreciation of the ETF at maturity and return principal if the final ETF price is at or above a Barrier Amount set at 75.00% of the Initial Value.
The Initial Value is the ETF’s closing price on August 4, 2026 of $220.23, with an Observation Date of August 4, 2031 and Maturity Date of August 7, 2031. If the final price falls below the Barrier Amount, investors lose 1% of principal for each 1% decline from the Initial Value, up to a total loss. The notes pay no interest or dividends, are unsecured and unsubordinated obligations of the issuer, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. They are sold in denominations of $1,000 per note at a price to public of $1,000, including $22 in fees per note, with net proceeds of $978 per note and an estimated value at pricing of $964.60.
JPMorgan Chase Financial Company LLC is offering auto callable buffered equity notes linked to the S&P 500® Futures Excess Return Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on August 29, 2031, with a potential automatic call on August 28, 2028 if the Index is at or above a specified Call Value, paying back principal plus a Call Premium Amount of at least $280 per $1,000 note.
If not called, at maturity investors receive uncapped, unleveraged exposure to Index gains; if the Final Value is above the Initial Value, the payoff is $1,000 + ($1,000 × Index Return). A 10.00% Buffer Amount protects against moderate declines: if the Index is down by up to 10%, principal is returned. Below this, investors lose 1% of principal for each percentage point beyond the 10% buffer, for a maximum loss of 90.00% of principal.
The notes pay no interest, 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 initial estimated value is about $940 per $1,000 note and will not be less than $900, lower than the price to public because it reflects selling commissions, hedging costs and issuer profits.
JPMorgan Chase Financial Company LLC is issuing auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on August 16, 2029, in minimum denominations of $1,000 and integral multiples.
Investors may receive a Contingent Interest Payment on each Review Date only if the Index closing level is at least 50% of the Initial Value (the Interest Barrier). From the sixth Review Date onward, if the Index is at or above the Initial Value, the notes are automatically called and pay $1,000 plus that period’s contingent interest, with no further payments. If the notes are not called and the Final Value is below the Trigger Value (also 50% of the Initial Value), principal is reduced 1% for each 1% Index decline, potentially to zero.
The Index employs a 35% target volatility, uses leveraged exposure (up to 500%) to E-mini S&P 500 futures, and is subject to a 6.0% per annum daily deduction, which creates a persistent drag and may cause the Index to decline even when its strategy has positive returns. If priced today, the notes’ estimated value would be about $946.20 per $1,000, and at issuance it will not be less than $910.00, reflecting selling costs and internal funding and hedging assumptions. Payments are unsecured obligations of JPMorgan Financial, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured Auto Callable Yield Notes linked to the common stock of Ford Motor Company, maturing on September 16, 2027. The notes target investors seeking higher income in exchange for equity-linked risk and no principal protection.
The notes pay interest at an annual rate of at least 14.00%, credited monthly at at least 1.16667%, as long as the notes remain outstanding. They may be automatically called on any Review Date from February 11, 2027 onward if Ford’s closing share price is at or above the Initial Value, in which case investors receive $1,000 per note plus the applicable interest and no further payments.
If not called, and the Final Value on the last Review Date is at or above the Trigger Value (70.00% of the Initial Value), investors receive $1,000 plus final interest at maturity. If the Final Value is below the Trigger Value, the maturity payment is reduced by Ford’s negative price return, so investors can lose more than 30% and up to all principal. The indicative estimated value is $981.80 per $1,000, and may be no less than $900.00, reflecting structuring, hedging and funding costs. The notes are not listed, carry limited liquidity, and all payments are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering 5-year non-call 1-year Auto Callable Contingent Interest Notes linked to the MerQube US Tech+ Vol Advantage Index. The Index uses a rules-based volatility-targeting strategy with exposure to an unfunded position in the Invesco QQQ Trust, with exposure ranging from 0% to 500%, reduced by a 6.0% per annum daily deduction and a notional financing cost.
The notes pay a contingent interest rate of at least 10.50% per annum, paid monthly at a rate of at least 0.875%, but only if on a review date the Index level is at or above the Interest Barrier of 75% of the Initial Value. If on a monthly review date (other than the first eleven and final) the Index is at or above its Initial Value, the notes are automatically called, returning $1,000 principal plus that month’s contingent interest, with no further payments.
If not called, at maturity in 2031 investors receive $1,000 per note plus the final contingent interest if the Final Value is at or above the Buffer Threshold of 70% of the Initial Value. Below this level, principal is reduced according to the Index loss beyond the 30% Buffer Amount, so investors can lose some or most of their principal. The estimated value will not be less than $900 per $1,000 note when set. Payments depend on the credit of JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co., and the product carries risks including loss of principal, no guaranteed interest, leverage in the Index, limited liquidity, and conflicts of interest.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering 5-year, auto-callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, which itself reflects a 6.0% per annum daily deduction and a notional financing cost on the QQQ Fund exposure. The notes pay a contingent interest rate of at least 12.50% per annum, credited monthly, but only if on a review date the index level is at or above the 70% Interest Barrier. Starting after year one, the notes are automatically called on any monthly review date (other than the final one) when the index is at or above its initial level, returning principal plus that month’s interest. If not called, at maturity in August 2031 investors receive principal plus the final interest if the index is at or above the 85% Buffer Threshold; below that level, principal is reduced based on index losses beyond a 15% buffer, so investors can lose some or most of their investment. The estimated value at issuance will be at least $900 per $1,000 note, and all payments are subject to JPMorgan credit risk.
JPMorgan Chase Financial Company LLC is offering uncapped accelerated barrier notes linked to the lesser performing of the Nasdaq-100 Index® and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price around August 10, 2026, settle around August 13, 2026, and mature on August 15, 2030, in minimum denominations of $1,000.
At maturity, if both indices finish above their initial levels, investors receive $1,000 plus at least 1.335× the gain of the lesser-performing index. If either index finishes at or below its initial level but both stay at or above 70% of their initial levels, principal is returned. If either index falls below its 70% barrier, repayment is reduced one-for-one with the decline of the lesser-performing index and investors can lose up to 100% of principal.
The notes pay no interest or dividends and are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. They are not expected to be listed, and secondary market liquidity may be limited. An indicative estimated value is about $980.40 per $1,000 note, and the final estimated value will not be less than $900.00 per $1,000, reflecting embedded costs and dealer margins.
JPMorgan Chase Financial Company LLC is offering Callable Contingent Interest Notes due November 17, 2027, linked to the lesser performance of the Nasdaq-100® Technology Sector and the Russell 2000® Index, in minimum denominations of $1,000. The notes pay 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). The Contingent Interest Rate will be at least 10.40% per annum, or 0.86667% per month, with total interest over the term ranging from $0 to $130.00 per $1,000 note depending on how many coupons are earned.
The issuer may redeem the notes early, in whole but not in part, on certain Interest Payment Dates beginning August 16, 2027, paying $1,000 plus any due contingent interest; no further payments would then be made. If the notes are not called and the Final Value of each index is at least 70.00% of its Initial Value (its Trigger Value), investors receive $1,000 plus the final contingent coupon at maturity. If the Final Value of either index is below its Trigger Value, repayment is reduced by the full decline of the lesser-performing index, with principal losses that can reach 100%.
The notes are unsecured and unsubordinated obligations of JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., and are subject to their credit risk. If priced today, the estimated value would be approximately $984.00 per $1,000 note, and will not be less than $900.00 per $1,000 at pricing, reflecting selling commissions, hedging costs and issuer funding assumptions. The notes will not be listed, may be illiquid, offer no participation in index upside or dividends, and involve concentrated exposure to technology and small-cap stocks, as well as complex U.S. tax treatment.
JPMorgan Chase Financial Company LLC is offering structured Review Notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The total offering is $578,000, in $1,000 denominations, with an original issue date of August 7, 2026 and maturity on August 7, 2031.
The notes may be automatically called on specified Review Dates starting August 9, 2027 if the Index closing level is at or above 100% of its initial level. In that case, investors receive $1,000 plus a Call Premium Amount that increases over time, up to 144.25% × $1,000 on the final Review Date. If not called and the Final Index Value is at or above the Barrier Amount of 60% of the Initial Value, principal is returned at maturity; otherwise, repayment is reduced one-for-one with the Index loss, exposing investors to loss of more than 40% and potentially all principal.
The Index includes a 6.0% per annum daily deduction and uses a rules-based leveraged exposure (up to 500%) to E-mini S&P 500 futures, which can significantly drag performance and amplify losses. The notes pay no interest or dividends and are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing was $892.80 per $1,000, below the $1,000 price to public due to commissions, hedging and structuring costs.
JPMorgan Chase Financial Company LLC is offering Uncapped Buffered Return Enhanced Notes linked to the S&P 500® Futures Excess Return Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to mature on August 28, 2031 and are issued in $1,000 minimum denominations.
At maturity, investors receive an uncapped upside of at least 2.05× any Index appreciation. A 20.00% buffer protects against moderate declines; below that, principal is reduced 1% for each additional 1% Index loss, with repayment potentially as low as $200 per $1,000. The notes pay no interest, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not be listed. An example estimated value is $974.80 per $1,000, and the final estimated value on pricing will not be less than $900.00 per $1,000.
JPMorgan Chase Financial Company LLC is issuing $5,470,000 of Structured Investments Review Notes linked to the Dow Jones Industrial Average®, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called on designated Review Dates starting August 4, 2027 if the closing level of each Index is at or above its Call Value, set at 100% of its Initial Value. In that case, investors receive $1,000 per note plus a fixed Call Premium Amount that steps up from 10.05% to 50.25% over the term.
If the notes are not called and on the final Review Date each Index is at or above its Barrier Amount of 70% of its Initial Value, investors receive full principal at maturity on August 7, 2031. If any Index finishes below its Barrier Amount, repayment is reduced by the full negative return of the Least Performing Index, leading to losses greater than 30% and potentially 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 have an estimated value of $939.20 per $1,000 note, below the issue price due to selling, structuring and hedging costs.
JPMorgan Chase Financial Company LLC is offering $1,523,000 of auto callable contingent interest notes linked individually to the Nasdaq-100® Technology Sector, the Russell 2000® Index and the State Street® Energy Select Sector SPDR® ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent coupon of 9.75% per annum (0.8125% per month) only on Review Dates when the closing value of each Underlying is at or above 70% of its Initial Value, with unpaid coupons accruing if conditions are later met. The notes can be automatically called as early as February 4, 2027 if each Underlying is at or above its Initial Value, returning principal plus applicable interest. If not called, at maturity on August 9, 2029, investors receive full principal only if each Underlying is at or above its 60% Trigger Value; otherwise, repayment is reduced 1% for each 1% decline in the Least Performing Underlying, potentially to zero. The securities are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not insured deposits, and may be illiquid, with an initial estimated value of $952.30 per $1,000.
JPMorgan Chase Financial Company LLC is offering Structured Investments Review Notes due August 29, 2029, linked to the least performing of the Dow Jones Industrial Average®, 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 review dates in 2027, 2028 or 2029 if each index closes at or above its Call Value of 100% of its Initial Value, paying $1,000 plus a call premium of at least 16.75%, 33.50% or 50.25%, respectively. If not called and each index’s final level is at or above its Barrier Amount of 70% of Initial Value, investors receive principal back at maturity; otherwise, repayment is reduced one-for-one with the decline of the Least Performing Index, and investors can lose up to all principal. The minimum denomination is $1,000. An indicative estimated value is $973.50 per $1,000 note and will not be less than $900.00 per $1,000 at pricing. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and are expected to price on or about August 24, 2026 and settle on or about August 27, 2026.