JPMorgan Chase & Co. 424B Filings

JPMorgan Chase & Co. provides an August 2026 performance update for the J.P. Morgan Kronos US Equity (JPUSKRSP) Index, a rules-based index established on June 11, 2021 that targets dynamic 50%, 100% or 150% exposure to the S&P 500 Price Index. The strategy combines turn-of-the-month seasonality, options-expiry momentum and month-end mean reversion, and reflects a 0.35% per annum index fee plus, in some cases, a notional financing cost linked to the Effective Federal Funds Rate. The index excludes dividends.

From July 2016 to July 2026, hypothetical and actual data show a Sharpe Ratio of 0.83, 10-year annualized volatility of 18.11%, and a 10-year annualized return of 15.08%, versus the S&P 500 Total Return Index at a 0.77 Sharpe, 21.24% volatility and 16.37% 10-year return. Recent annual index returns include 53.87% in 2020, -28.46% in 2022 and 28.43% in 2023, with detailed monthly results through July 2026.

The update highlights multiple risks: sponsor and calculation-agent discretion at J.P. Morgan Securities LLC, leverage up to 150%, strategy concentration around specific month windows, potential periods when the index is uninvested in the S&P 500, dependence on the Effective Federal Funds Rate and the index’s limited live history. All pre‑June 11, 2021 figures are hypothetical backtested results, and past or backtested performance is expressly stated as not indicative of future returns. Notes linked to the index are unsecured, not FDIC‑insured and may not suit all investors.

JPMorgan Chase Financial Company LLC is offering $2,144,000 of Uncapped Digital Barrier Notes linked to the least performing of the S&P 500 Index, Russell 2000 Index and Dow Jones Industrial Average, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a Contingent Digital Return of 24.30% and a Barrier Amount for each index equal to 70.00% of its Initial Value.

The notes price on July 31, 2026, are expected to settle on or about August 5, 2026, and mature on August 3, 2029. If, on the observation date, the Final Value of each index is at or above its Barrier Amount, investors receive principal plus the greater of 24.30% or the Least Performing Index Return. If any index finishes below its Barrier Amount, repayment is reduced one-for-one with the Least Performing Index Return, and investors can lose more than 30% and up to all principal. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and the estimated value at pricing was $979.20 per $1,000 note.

JPMorgan Chase Financial Company LLC is offering $12,379,000 in Auto Callable Notes Linked to the J.P. Morgan Multi-Asset Index, due August 4, 2033, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes provide 100% participation in Index appreciation if not called and held to maturity, with full principal repayment at maturity, subject to issuer and guarantor credit risk.

The notes may be automatically called on any Review Date from August 4, 2027 through August 2, 2032 if the Index is at or above an increasing Call Value, paying $1,000 plus a fixed Call Premium of up to 84.00% by the sixth Review Date. If never called and the Final Value exceeds the Initial Value of 313.09, investors receive $1,000 plus the Index Return. If the Index is flat or down at final observation, investors receive only principal. The price to the public is $1,000 per note, including $34 in selling commissions; net proceeds are $11,958,114, and the issuer’s estimated value is $901.20 per $1,000.

JPMorgan Chase Financial Company LLC is issuing $26,000 of Capped Accelerated Barrier Notes linked to the iShares® Bitcoin Trust ETF (IBIT), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes offer 1.50x any positive Fund return at maturity, up to a 161.00% maximum return, corresponding to a maximum payment of $2,610 per $1,000 note.

The notes have a Barrier Amount of 70.00% of the Initial Value. If the Final Value is below this barrier, repayment of principal is not protected and losses are 1% for each 1% Fund decline, potentially resulting in a total loss of principal. The Initial Value was $35.64, pricing occurred on July 31, 2026, and maturity is scheduled for August 3, 2029. The estimated value at issuance was $993.60 per $1,000 note, below the $1,000 price, reflecting selling commissions, hedging and structuring costs. The notes pay no interest, are unsecured, not insured by any government agency, and expose investors to both bitcoin-related volatility via the Fund and the credit risk of JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is issuing $508,000 of Uncapped Accelerated Barrier Notes linked to the S&P 500 Index, due August 5, 2031, in minimum denominations of $1,000. The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co.

At maturity, if the Index is above its Initial Value of 7,489.72, investors receive principal plus 1.05× the Index gain. If the Final Value is between the Initial Value and the Barrier Amount of 5,617.29 (75% of the Initial Value), principal is returned. If the Final Value is below the Barrier Amount, repayment is reduced one-for-one with the Index decline, exposing investors to losses of more than 25% and up to 100% of principal.

The notes pay no interest and provide no dividends from Index constituents. They will not be listed on an exchange, and secondary market liquidity will depend on JPMS. The price to public is $1,000 per note, including fees of about $10.94 per note, for issuer proceeds of $502,441.25. The estimated value at pricing was $971.90 per $1,000 note, reflecting selling costs and internal funding and hedging assumptions.

JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes linked to the common stock of Tesla, Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination and a term to August 10, 2028. The notes may pay a quarterly Contingent Interest Payment of at least 3.75% (at least 15.00% per annum) for any Review Date on which Tesla’s closing price is at or above 57.00% of the Initial Value, with previously unpaid interest amounts accruing if later conditions are met.

The notes are auto-callable on specified Review Dates starting February 8, 2027 if Tesla’s closing price is at or above the Initial Value, returning $1,000 plus applicable interest and ending further payments. If not called and Tesla’s Final Value is at or above the Trigger Value (57.00% of the Initial Value), investors receive $1,000 plus any due interest. If the Final Value is below the Trigger Value, maturity payment is $1,000 plus $1,000 × Stock Return, so principal losses can exceed 43.00% and may reach 100%. Payments are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The indicative estimated value is about $960.00 per $1,000 note and will not be less than $940.00 when set, reflecting selling commissions and structuring and hedging costs.

JPMorgan Chase Financial Company LLC is offering Trigger Performance Leveraged Upside Securities (Trigger PLUS) linked to the EURO STOXX 50® Index, maturing on August 12, 2032, under its Medium-Term Notes, Series A program, fully and unconditionally guaranteed by JPMorgan Chase & Co.

Each Trigger PLUS has a $1,000 stated principal amount and issue price, a term of 6 years, and offers at least 190.00% leveraged upside on any index gain. If the final index value is at or above 65% of the initial index value (the trigger level), investors receive at least their principal at maturity.

If the final index value is below the trigger level, the maturity payment equals $1,000 multiplied by the index performance factor, resulting in a loss proportionate to the index decline and potentially a total loss of principal. The securities pay no interest, will not be listed on any exchange, and any payment is subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The indicative estimated value is about $953.30 per $1,000, and will not be less than $930.00 per $1,000 on the pricing date.

JPMorgan Chase Financial Company LLC is offering $399,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Tech+ Vol Advantage Index, in $1,000 denominations, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent coupon of 17.75% per annum (about $14.7917 per month per $1,000) only if, on a given monthly Interest Review Date, the Index closes at or above the Interest Barrier of 75.00% of the Initial Value. No interest is paid for periods when the Index is below this barrier.

The notes are auto-callable quarterly from August 2, 2027; if on any Autocall Review Date the Index is at or above its Initial Value of 13,242.45, investors receive $1,000 plus the applicable coupon and the notes terminate. If the notes are not called and at maturity in August 2031 the Index is at or above the Buffer Threshold of 85.00% of the Initial Value, investors receive principal back plus the final coupon. Below that threshold, principal is reduced 1% for every 1% Index loss beyond the 15.00% buffer, up to a maximum principal loss of 85.00%.

The Index embeds a 6.0% per annum daily deduction and a notional financing cost on its QQQ Fund exposure, which systematically drags performance versus a similar index without such charges. The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial, subject to the credit risk of both the issuer and JPMorgan Chase & Co., and are not bank deposits or FDIC insured. The estimated value at pricing was $940.50 per $1,000, below the $1,000 issue price due to selling, structuring and hedging costs.

JPMorgan Chase Financial Company LLC is offering $75,000 of Auto Callable Accelerated Barrier Notes linked to the iShares Bitcoin Trust ETF (IBIT), fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination and priced on July 31, 2026, using an Initial Value of $35.64 per ETF share.

The notes can be automatically called on August 4, 2027 if the ETF’s closing price is at or above the Call Value (100% of the Initial Value), paying $1,000 plus a Call Premium Amount of $227.50 per note, with no further payments. If not called and the Final Value on July 31, 2029 exceeds the Initial Value, investors receive leveraged upside: principal plus 1.50× the Fund Return.

If the Final Value is at or above the Barrier Amount of 70% of the Initial Value (i.e., $24.948), principal is returned at maturity. If the Final Value falls below the Barrier Amount, repayment is reduced one‑for‑one with the ETF’s loss, and investors may lose most or all of principal. The notes pay no interest, are unsecured and unsubordinated, and expose holders to both bitcoin-linked volatility risk through the ETF and the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing was $969.50 per $1,000 note, below the issue price due to selling, structuring and hedging costs.

JPMorgan Chase Financial Company LLC is issuing $3,200,000 of Trigger Autocallable Contingent Yield Notes, fully and unconditionally guaranteed by JPMorgan Chase & Co., linked to the least performing of the Russell 2000, S&P 500 and EURO STOXX 50 indices. Each Note has a $10 principal amount, a term to August 3, 2029 (unless called earlier), and pays a quarterly Contingent Coupon at 9.75% per annum (or $0.2438 per $10) only if on the Observation Date all three indices are at or above their Coupon Barriers, set at 70% of initial levels.

The Notes are automatically called if on any quarterly Observation Date all indices are at or above their Initial Values, paying principal plus the applicable Contingent Coupon, with no further payments. If not called, and at maturity each index is at or above its Downside Threshold (also 70% of Initial Value), investors receive principal plus the final Contingent Coupon. If any index finishes below its Downside Threshold, repayment is $10 × (1 + Least Performing Underlying Return), which can result in a significant or total loss of principal. The Notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not listed on any exchange, and had an estimated value of $9.614 per $10 at pricing.

JPMorgan Chase Financial Company LLC is offering $193,000 of Uncapped Dual Directional Accelerated Barrier Notes linked to the least performing of the Nasdaq-100® Technology Sector, the S&P 500® Index and the Russell 2000® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes have $1,000 denominations, an Upside Leverage Factor of 1.711, a Barrier Amount for each index at 70.00% of its Initial Value, and mature on August 5, 2031. If all indices end above their initial levels, investors receive leveraged upside based on the least performing index. If any index is at or below its Initial Value but all remain at or above the barrier, investors receive a positive, uncapped return equal to the absolute depreciation of the least performing index, capped economically at 30.00%. If any index finishes below its barrier, principal is reduced one-for-one with the decline of the least performing index, with losses that can reach 100%.

The notes pay no interest, provide no dividend exposure, are unsecured and unsubordinated obligations of JPMorgan Financial subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and are not listed on any exchange. The price to public is $1,000 per note, including $5 in selling commissions, while the issuer’s estimated value is $967.30 per note, reflecting embedded costs and hedging assumptions.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Capped Dual Directional Buffered Equity Notes linked to the S&P 500 Index. The notes have a Pricing Date of July 31, 2026, an Original Issue Date on or about August 5, 2026, a Valuation Date of July 31, 2028 and a Maturity Date of August 3, 2028.

Each note has a $1,000 principal amount and is tied to an Initial Index Level of 7,489.72. If the Index rises, investors receive the Index Return up to a Maximum Upside Return of 16.90%, for a maximum payment of $1,169 per $1,000 note. If the Index falls by up to the 25.00% Buffer Amount, investors earn the Absolute Index Return, up to a maximum negative-side payment of $1,250 per $1,000 note. If the Index declines by more than 25.00%, investors lose 1.33333% of principal for each additional 1% decline, and can lose some or all principal.

The total offering is $4,619,000, priced at $1,000 per note, with $15 in fees and commissions and $985 in proceeds to the issuer per note. The estimated value at issuance is $978.50 per $1,000 note. The notes are unsecured obligations, not bank deposits, not FDIC insured, may have limited liquidity and raise complex U.S. tax and Section 871(m) considerations.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the common stock of Alcoa Corporation, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a scheduled maturity on February 8, 2028, $1,000 minimum denominations and are unsecured, unsubordinated obligations subject to the credit risk of both the issuer and guarantor.

The notes pay a Contingent Interest Rate of at least 24.50% per annum (at least 6.125% per quarter) only if, on a given Review Date, the Alcoa share price is at or above the Interest Barrier, set at 70.00% of the Strike Value. The Strike Value is $44.84 per share, making the Interest Barrier and Trigger Value $31.388. Missed interest is not lost if, on a later Review Date, the stock closes at or above the Interest Barrier; however, if the stock is below the Interest Barrier on every Review Date, no interest is ever paid.

The notes are automatically called if, on any non-final Review Date starting November 3, 2026, the Alcoa share price is at or above the Strike Value, in which case investors receive $1,000 plus the current and any unpaid contingent interest, and no further payments. If the notes are not called and the Final Value on the last Review Date is at or above the Trigger Value, investors receive $1,000 plus the applicable interest and any unpaid prior interest. If the Final Value is below the Trigger Value, repayment of principal is reduced one-for-one with the stock decline from the Strike Value, leading to a loss of more than 70% and up to all principal. The issuer discloses an indicative estimated value of about $960 per $1,000 note if priced today, and a minimum final estimated value of $940, reflecting selling commissions, hedging costs and issuer funding spreads, and notes that secondary market liquidity and pricing may be limited.

JPMorgan Chase Financial Company LLC is issuing Enhanced Jump Securities with Auto-Callable Feature due August 3, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co., linked to the worst performing of the Russell 2000 Index, S&P 500 Index and Nasdaq-100 Index. The aggregate principal amount is $4,822,000, with a stated principal amount and issue price of $1,000 per security.

The notes pay no coupons. If on any of eight early determination dates each index is at or above its initial level, the notes are automatically redeemed for $1,108 to $1,297 per $1,000, corresponding to about 10.80% per annum70% downside threshold, investors receive $1,324 per security. If any index finishes below its downside threshold, repayment is reduced 1-to-1 with the worst index performance, and the maturity payment will be less than 70% of principal and could be zero, so principal is at risk. Investors do not participate in any upside beyond these fixed payouts, and all payments are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated value on the pricing date is $953.80 per $1,000, below the issue price due to commissions, structuring and hedging costs.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes due August 8, 2033, linked to the MerQube US Large-Cap Vol Advantage Index, and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Payment on monthly review dates only if the Index is at or above 70% of the Strike Value (the Interest Barrier). The notes are automatically called on quarterly autocall dates if the Index is at or above the Strike Value, with the earliest possible call on February 3, 2027.

If not called, at maturity investors receive par plus the final contingent interest if the Index is at or above the Trigger Value of 50% of the Strike Value; otherwise, repayment is reduced 1% for each 1% decline in the Index from the Strike Value, exposing investors to a significant or total loss of principal. The Index uses a leveraged, volatility-targeting E-mini S&P 500 futures strategy and is subject to a 6.0% per annum daily deduction, which drags performance. The notes are unsecured obligations, priced in $1,000 minimum denominations, with an estimated value of about $930 per $1,000 note and not less than $900, and they will not be listed on an exchange, limiting liquidity.

JPMorgan Chase Financial Company LLC is issuing $1,356,000 of unsecured 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 denomination, with a price to the public of $1,000, selling commissions of $6 and proceeds to the issuer of $994 per note.

The notes pay no interest and mature on August 5, 2031. At maturity, investors receive full principal repayment plus an Additional Amount equal to $1,000 × Index Return × 155.50%, if positive; otherwise only principal is repaid, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The Initial Value of the Index was 598.42 on July 31, 2026. The issuer’s estimated value is $979.20 per $1,000 note, below the issue price due to commissions, hedging costs and structuring fees. The notes are treated as contingent payment debt instruments for U.S. tax purposes, with a comparable yield of 4.55% and a projected single payment at maturity of $1,252.35 per $1,000 note.

JPMorgan Chase Financial Company LLC is offering $1,698,000 of structured “Review Notes” linked to the lesser performing of the Dow Jones Industrial Average and the Nasdaq-100 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination and matures on August 5, 2030.

The notes may be automatically called on scheduled Review Dates starting August 4, 2027 if each index is at or above its Call Value (100% of its Initial Value), paying back $1,000 plus a Call Premium of 12.10%, 24.20%, 36.30% or 48.40%, depending on call date. If not called, principal is repaid at maturity only if the Final Value of each index is at or above its Barrier Amount, set at 70% of its Initial Value; otherwise, repayment is reduced 1% for each 1% decline of the lesser-performing index, with the potential loss of all principal. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., carry an original issue price of $1,000 versus an estimated value of $956.80, and are not expected to be listed, limiting liquidity.

JPMorgan Chase Financial Company LLC is issuing $1,030,000 of unsecured Review Notes linked to the MerQube US Gold Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination, priced with selling commissions of $37.50 and net proceeds of $962.50 to the issuer, with an estimated value at pricing of $919.50 per note.

The notes may be automatically called quarterly starting August 3, 2027 if the Index closes at or above 100% of its Initial Value of 3,799.41. If called, investors receive $1,000 plus a Call Premium Amount that steps up from 23.0% on the first Review Date to 69.0% on the final Review Date. If not called, and the Final Value is at or above the Barrier Amount of 60.00% of the Initial Value (2,279.646), principal is returned at maturity on August 3, 2029; if below the barrier, repayment equals $1,000 plus $1,000 times Index Return, with losses exceeding 40% and up to a total loss.

The Index provides rules-based exposure to gold futures with target volatility of 35%, maximum leverage of 500% and a 6.0% per annum daily deduction, which structurally drags performance versus an equivalent index without a fee. Key risks include potential loss of principal, credit risk of JPMorgan Financial and JPMorgan Chase & Co., leverage and commodity volatility, lack of listing and limited liquidity, conflicts of interest in index design and maintenance, and secondary market values likely below issue price.

JPMorgan Chase Financial Company LLC is offering $151,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Tech+ Vol Advantage Index, due August 5, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a 10.00% per annum contingent coupon (0.83333% monthly) only if, on a Review Date, the Index closes at or above 75.00% of its Initial Value; missed coupons can be paid later if the barrier is met.

The notes are auto‑callable starting August 2, 2027 if the Index is at or above its Initial Value, returning principal plus due and unpaid coupons. At maturity, if not called and the Index is at or above 70.00% of Initial Value, investors receive full principal plus any due coupons; below that level, principal is reduced so losses can reach 70%. The Index embeds a 6.0% per annum daily deduction and a notional financing cost, creating a structural drag on performance. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.; they are not bank deposits or FDIC insured.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering Auto Callable Buffered Return Enhanced Notes linked to the EURO STOXX 50® Index. The notes have a scheduled term of about two years with a possible automatic call after about one year.

On the Review Date, if the Index closing level is at or above its Initial Index Level, the notes are automatically called and pay $1,000 plus a call premium of at least 13.90% per note on the Call Settlement Date. If not called and the Ending Index Level is above the Initial Index Level, investors receive an uncapped leveraged upside of at least 1.25× the Index’s positive return.

If the notes are not called and the Index is flat or down by up to the 15.00% Buffer Amount, investors receive principal back at maturity. If the Index is down by more than 15.00%, losses are magnified by a 1.17647 downside leverage factor, and some or all principal may be lost. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not be listed. The initial estimated value is about $981.50 per $1,000 note and may be as low as $970.00, reflecting embedded selling commissions, hedging costs and JPMorgan’s internal funding rate. The tax treatment is uncertain and may be affected by potential future IRS guidance on prepaid forward contracts.

JPMorgan Chase Financial Company LLC is offering $4,423,000 of Uncapped Dual Directional Accelerated Barrier 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 denomination, prices on July 31, 2026, and is expected to settle on or about August 5, 2026, with maturity on August 5, 2031.

At maturity, if the Index rises, investors receive 1.95 times the Index appreciation. If the Index is flat or down but not below 60.00% of the Initial Value, investors receive the absolute value of the Index decline, capped at 40.00%, for a maximum negative-return payout of $1,400 per $1,000 note. If the Index falls below the 60.00% barrier, principal is exposed 1:1 to the full Index loss, and investors can lose more than 40% and up to all principal.

The Initial Value is the Index closing level of 598.42 on July 31, 2026. The notes pay no interest, are unsecured and unsubordinated obligations of JPMorgan Financial, and any payment depends on the credit of both the issuer and guarantor. The estimated value at pricing was $975.50 per $1,000 note, reflecting structuring and hedging costs.

JPMorgan Chase Financial Company LLC is offering $8,280,000 of Callable Contingent Interest Notes due August 5, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked separately to the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index; payments depend on the Least Performing Index.

Each note has a $1,000 denomination and pays a quarterly Contingent Interest Payment at a rate of 9.15% per annum (2.2875% per quarter) only if, on the relevant Review Date, the closing level of each Index is at or above an Interest Barrier set at 60% of its Initial Value. The issuer may redeem the notes early, in whole, on specified Interest Payment Dates starting August 3, 2028, in which case investors receive $1,000 plus the contingent interest for that date.

If the notes are not called and, on the Final Review Date, the Final Value of any Index is below its Trigger Value (also 60% of Initial Value), the maturity payment is $1,000 + ($1,000 × Least Performing Index Return), exposing holders to a significant or total loss of principal. If each Index is at or above its Trigger Value, investors receive $1,000 plus the final contingent interest. The estimated value at pricing was $971.00 per $1,000 note, reflecting embedded structuring and hedging costs and the issuer’s internal funding rate. U.S. tax treatment is described as prepaid forward contracts with associated contingent coupons, with notable complexities for both U.S. and non-U.S. investors.

JPMorgan Chase Financial Company LLC is offering $1,332,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Gold Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a 14.00% per annum Contingent Interest (1.16667% monthly) only for Review Dates when the Index closes at or above 65.00% of the Initial Value (the Interest Barrier). Principal is at risk: if the notes are not called and the Final Value is below the Trigger Value of 65.00% of the Initial Value, repayment is reduced 1% for each 1% Index loss, down to zero.

The notes may be automatically called as early as August 2, 2027 if on a relevant Review Date the Index is at or above the Call Value of 90.00% of the Initial Value, in which case investors receive $1,000 plus that period’s Contingent Interest and no further payments. The Index employs a rules-based volatility-targeting strategy on gold futures with maximum 500% exposure, a 35% target volatility and a 6.0% per annum daily deduction, which creates a persistent drag versus an otherwise identical index without such a fee. The notes priced at $1,000 per note with selling commissions of $7.50 and an issuer-estimated value of $943.10 per $1,000 note. Payments depend on the performance of the Index and the credit of JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is issuing $80,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Tech+ Vol Advantage Index, due August 5, 2031, in minimum denominations of $1,000, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes pay a contingent interest rate of 11.50% per annum (2.875% quarterly) only if, on each Review Date, the Index is at or above an Interest Barrier of 50% of the Initial Value. They are automatically called (from August 2, 2027 onward) if the Index is at or above its Initial Value, returning principal plus that period’s interest.

If not called, and at maturity the Index is below the Trigger Value of 50% of the Initial Value, repayment is reduced 1% for every 1% Index decline, down to zero, so investors can lose all principal. The Index embeds a 6.0% per annum daily deduction and a daily notional financing cost, uses up to 500% leveraged exposure and a 35% target volatility, which can drag performance versus similar strategies without such charges.

The price to public per note is $1,000, including $6.50 in fees and commissions, with issuer proceeds of $993.50 per note. The estimated value at pricing is $931.60 per $1,000 note, reflecting internal funding and hedging costs. Payments depend on the credit of both JPMorgan Financial and JPMorgan Chase & Co., and the notes will not be listed, so liquidity and secondary market pricing may be limited.

JPMorgan Chase Financial Company LLC is offering $1,140,000 of Callable Contingent Interest Notes linked individually to the Nasdaq-100 Index®, the Russell 2000® Index and the EURO STOXX 50® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Rate of 12.35% per annum (1.02917% per month) only for Review Dates when the closing level of each index is at or above 70.00% of its Initial Value, the Interest Barrier. The notes are callable at the issuer’s option on specified Interest Payment Dates beginning November 5, 2026; on call, investors receive $1,000 principal plus the applicable contingent interest.

If the notes are not redeemed early, at maturity investors receive $1,000 plus the final contingent interest if the Final Value of each index is at or above its Trigger Value of 60.00% of Initial Value. If any index finishes below its Trigger Value, repayment is reduced by the full negative return of the Least Performing Index, exposing investors to loss of a significant portion or all of principal. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing is $971.60 per $1,000 note, below the $1,000 issue price due to selling, structuring and hedging costs.

JPMorgan Chase Financial Company LLC is offering $1,499,000 of Uncapped Dual Directional Digital Barrier Notes linked to the lesser performing of the S&P 500 Index and the Russell 2000 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on August 5, 2031 and have a minimum denomination of $1,000.

At maturity, if each index is at or above its Initial Value, investors receive principal plus the greater of a 46.55% Contingent Digital Return or the lesser performing index’s return. If either index is below its Initial Value but both are at or above 75% of Initial Value (the Barrier Amount), investors receive principal plus the absolute value of the lesser performing index’s decline, capped at 25%. If either index closes below its Barrier Amount, repayment is reduced 1% for each 1% decline of the lesser performer, exposing investors to losses up to a full loss of principal.

The price to the public is $1,000 per note, including $32.50 in selling commissions and $967.50 in proceeds to the issuer. The estimated value at pricing was $945.40 per $1,000 note, reflecting dealer costs and hedging. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., will not be listed, and may have limited or no secondary market liquidity. Tax counsel views the notes as open transactions/prepaid financial contracts, but future IRS guidance could adversely affect tax treatment.

JPMorgan Chase Financial Company LLC is issuing $435,000 of Auto Callable Contingent Interest Notes linked to the Class A common stock of Builders FirstSource, Inc. (BLDR), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a maturity date of August 3, 2029 and a minimum denomination of $1,000.

Investors may receive quarterly Contingent Interest Payments of $46.875 per $1,000 note (a 18.75% per annum rate) for each Review Date on which the BLDR share price is at or above the Interest Barrier of 50.00% of the Initial Value. The notes are automatically called if, on any non-final Review Date, the BLDR closing price is at least the Initial Value of $66.44, paying $1,000 plus the applicable interest and then terminating.

If not called, and the Final Value is at or above the Trigger Value (also 50.00% of the Initial Value, or $33.22), investors receive $1,000 plus the final Contingent Interest Payment. If the Final Value is below the Trigger Value, the payout is $1,000 + ($1,000 × Stock Return), exposing holders to more than 50.00% principal loss and possibly a total loss. The notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing was $943.10 per $1,000 note, below the $1,000 price to public, reflecting embedded costs and hedging.

JPMorgan Chase Financial Company LLC is offering $783,000 of unsecured, unsubordinated Buffered Digital 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 pay no coupons and are designed to provide a fixed 13.90% Contingent Digital Return at maturity on September 3, 2027 if, on the August 31, 2027 observation date, each index is at or above its initial level or has fallen by no more than the 15.00% Buffer Amount. If any index has declined by more than 15.00%, principal is reduced 1% for each 1% decline beyond the buffer, up to a maximum loss of 85.00%, so the minimum payment is $150 per $1,000.

The price to the public is $1,000 per note, including selling commissions of $7 per $1,000; the issuer’s estimated value is $988.80 per $1,000 at pricing. The notes are not listed, do not pay interest or dividends, and their value and payments are subject to the credit risks of JPMorgan Financial and JPMorgan Chase & Co., as well as risks tied to U.S. large-cap, small-cap and technology-sector equities.

JPMorgan Chase Financial Company LLC is issuing $4,247,000 of Uncapped Dual Directional Accelerated Barrier Notes linked to the S&P 500® Futures Excess Return Index, maturing on August 5, 2032, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes offer 2.03x leveraged upside on any positive Index return at maturity. If the Index ends at or below the Initial Value but at or above the Barrier Amount of 60.00% of the Initial Value (359.052), investors receive an uncapped return equal to the absolute value of the Index loss, up to a 40.00% gain (maximum payment $1,400 per $1,000 note when the Index Return is negative). If the Final Value falls below the Barrier Amount, repayment is $1,000 + $1,000 × Index Return, so investors lose 1% of principal for each 1% Index decline and can lose their entire investment.

The notes pay no interest, are unsecured and unsubordinated obligations subject to the credit risk of both the issuer and guarantor, and will not be listed on an exchange. The price to public is $1,000 per note, including $32.50 in selling commissions and a structuring fee, with issuer proceeds of $967.50 per note. The estimated value at pricing was $941.70 per $1,000 note, reflecting embedded selling, structuring and hedging costs and the issuer’s internal funding rate, and secondary market values are expected to be lower than the issue price.

JPMorgan Chase Financial Company LLC is issuing $1,468,000 of Auto Callable Accelerated Barrier Notes linked to the Nasdaq-100^® Technology Sector and the Russell 2000^® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are unsecured, unsubordinated obligations in $1,000 denominations, priced on July 31, 2026 and expected to settle on or about August 5, 2026, and are scheduled to mature on August 3, 2029.

The notes may be automatically called on August 4, 2027 or July 31, 2028 if each index is at or above its Call Value, paying principal plus a call premium of 17.50% or 35.00% of $1,000, respectively. If not called and both indices finish above their Initial Values, the maturity payment delivers 2.00x the appreciation of the lesser performing index. If either index finishes at or below its Initial Value but at or above 70.00% of Initial Value, principal is returned. If either index ends below its 70.00% Barrier Amount, repayment is reduced 1% for each 1% decline of the lesser performing index, up to a total loss of principal.

The price to public is $1,000 per note, including $4.00 in selling commissions, with issuer proceeds of $996 per note. The estimated value at pricing is $965.30 per $1,000 note, reflecting embedded selling, structuring and hedging costs. The notes pay no interest, provide no dividends on index constituents, are not listed on any exchange, and are 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 three separate series of Capped Buffered Return Enhanced Notes maturing on August 31, 2028, each linked to a single equity index: the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index. The notes provide 1.50x leveraged upside on any index appreciation at maturity, subject to a that will be set at pricing, currently indicated as 26.00%–30.00% for the NDX notes, 24.50%–28.50% for the RTY notes and 18.25%–22.25% for the SPX notes.

Each note includes a 10.00% downside buffer; if the index falls by more than 10%, investors lose 1% of principal for each additional 1% decline, up to a possible 90% loss of principal. The notes pay no interest or dividends, are unsecured and unsubordinated, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. Estimated values, if priced on the described date, would be about $954.00–$957.00 per $1,000 note, and will not be less than $900.00 per $1,000 at issuance, reflecting embedded selling commissions and hedging costs.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is issuing 7-year auto callable notes linked to the S&P Global 100 PR 5% Daily Risk Control 0.5% Deduction Index (USD) ER. The notes provide 100% participation in Index gains if not called, with annual review dates and potential automatic call payments based on preset Call Values and Call Premiums.

The Index dynamically adjusts exposure to the S&P Global 100 Index to target 5% annualized volatility, while deducting a daily notional financing cost and a 0.50% per annum index deduction. If the notes are never called and are held to maturity, investors receive full principal repayment per $1,000 note even if the Index has declined, subject to the credit risks of the issuer and guarantor. The estimated value will be at least $900 per $1,000 principal amount when terms are set, and the notes pay no interest, dividends, or voting rights and may be illiquid.

JPMorgan Chase Financial Company LLC is offering structured Auto Callable Notes linked to the J.P. Morgan Multi-Asset Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have minimum denominations of $1,000, are expected to price on or about August 31, 2026, settle around September 3, 2026, and mature on September 6, 2029, unless automatically called earlier.

The notes may be automatically called on Review Dates in 2027 and 2028 if the Index closes at or above preset Call Values (at most 101% and 102% of the Initial Value). If called, investors receive $1,000 plus a Call Premium of at least 11% or 22%, respectively. If not called, at maturity investors receive full principal plus an uncapped Additional Amount equal to the Index Return × a 100% Participation Rate, floored at zero, providing principal protection but no interest.

The underlying Index is a JPMS-managed, rules-based, multi-asset momentum strategy with a 1.00% per annum daily deduction and a 4% initial volatility threshold, allocated across equity, bond and commodity futures, including potential notional short positions. The notes are unsecured, not FDIC insured, and subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. An indicative estimated value is $953.30 per $1,000 note, with a minimum final estimated value of $900.00 per $1,000.

JPMorgan Chase Financial Company LLC is issuing $3,310,000 in Auto Callable Contingent Interest Notes due August 5, 2032, linked to the MerQube US Large-Cap Vol Advantage Index and fully guaranteed by JPMorgan Chase & Co. The notes pay a contingent interest rate of 17.75% per annum, credited monthly only when the Index closes at or above 70% of the Initial Value (the Interest Barrier). The notes may be automatically called quarterly beginning August 2, 2027 if the Index is at least at its Initial Value, returning principal plus the applicable contingent interest, with no further payments.

If not called, principal is protected only down to the Trigger Value at 50% of the Initial Value; if the Final Value is below this level, repayment is reduced 1:1 with the Index decline and investors can lose most or all of principal. The Index embeds a 6.0% per annum daily deduction, uses up to 500% leveraged exposure to E-mini S&P 500 futures and may be significantly uninvested, all of which can drag performance. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The price to public is $1,000 per note, including $9 in selling commissions, while the initial estimated value is $920.70 per $1,000.

JPMorgan Chase Financial Company LLC is offering $1,105,000 of Uncapped Accelerated Barrier Notes linked to the EURO STOXX 50® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and is an unsecured, unsubordinated obligation.

At maturity in August 2029, investors receive 1.68 times any positive Index return, with no cap. If the Index is at or above 70% of the Initial Value, principal is repaid; if it falls below that Barrier Amount, repayment is reduced one-to-one with the Index decline, down to a total loss of principal. The notes pay no interest and provide no dividends.

The notes priced on July 31, 2026 and are expected to settle around August 5, 2026. The price to the public is $1,000 per note, while the issuer’s estimated value is $994.10, reflecting structuring and hedging costs. The notes will not be listed, secondary liquidity may be limited, and returns are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is offering Step-Up Auto Callable Notes due August 31, 2033, linked to the S&P® Global 100 PR 5% Daily Risk Control 0.5% Deduction Index (USD), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have $1,000 minimum denominations, no periodic interest or dividends, and expose holders to the credit risk of both the issuer and guarantor.

The notes may be automatically called as early as August 30, 2027 if the Index closes at or above specified Call Values, paying back principal plus a step-up Call Premium of at least 12%–72% of principal depending on the Review Date. If not called, at maturity investors receive full principal plus an Additional Amount equal to $1,000 × Index Return × 100% Participation Rate, floored at zero, so principal is repaid even if the Index declines. The Index embeds a 0.50% annual deduction and notional financing cost, which will cause it to lag a comparable undeducted portfolio. The preliminary estimated value is about $907.80 per $1,000, reflecting selling costs and hedging economics, and secondary market liquidity will depend on J.P. Morgan Securities LLC.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Auto Callable Buffered Return Enhanced Notes linked to the EURO STOXX 50® Index. Each note has a $1,000 denomination, with a total offering of $300,000.00, and is issued in minimums of $10,000.

The notes may be automatically called on August 12, 2027 if the Index closing level is at or above the Index Strike Level of 6,344.40, paying $1,000 plus a 14.10% call premium. If not called, at maturity on August 3, 2028, investors receive leveraged upside of 1.25x any positive Index Return, principal protection for Index declines up to a 15.00% Buffer Amount, and 1.17647% loss of principal for each 1% Index decline beyond the buffer.

The price to public is $1,000.00 per note, including $15.00 in fees and commissions, for net proceeds of $985.00 per note to the issuer. The initial estimated value is $980.50 per $1,000 note, reflecting internal funding and hedging costs. The notes pay no interest or dividends, are unsecured and unsubordinated, will not be listed, and expose holders to both Index performance risk and the credit risk of JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is offering unsecured Callable Contingent Interest Notes due July 19, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked, on a worst-of basis, to the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, with minimum denominations of $1,000. Investors receive a Contingent Interest Payment on a Review Date only if the closing level of each Index is at or above its Interest Barrier, set at 70.00% of its Initial Value, and may receive no interest at all.

If the notes are not redeemed early and, on the final Review Date, the Final Value of any Index is below its Trigger Value of 60.00% of its Initial Value, principal is reduced 1% for every 1% decline of the Least Performing Index, potentially resulting in a full loss of principal. The issuer may redeem the notes early on specified Interest Payment Dates starting November 19, 2026, returning principal plus any due contingent interest. A hypothetical Contingent Interest Rate of 10.00%–12.00% per annum is indicated, and the estimated value is approximately $970.40 per $1,000 note, not less than $900.00, reflecting embedded selling, structuring and hedging costs. Credit risk of both JPMorgan Financial and JPMorgan Chase & Co., limited liquidity, complex tax treatment and index-specific sector and small-cap risks are highlighted.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering 3-year auto callable notes linked to the J.P. Morgan Multi-Asset Index (ticker MAX). The notes have a $1,000 minimum denomination and a 100% participation rate in the Index.

The Index follows a momentum-based, diversified futures strategy across equities, fixed income and commodities, converted to U.S. dollars, and is subject to a 1.00% per annum daily deduction with an initial 4.0% volatility threshold. On each annual review date, if the Index is at or above the applicable Call Value, the notes are automatically called and pay $1,000 plus a Call Premium of at least 11.00% per annum.

If not called and held to maturity, investors receive either principal plus any positive Index return (via the 100% participation rate) or full principal repayment even if the Index has declined, in all cases subject to the credit risks of JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. The estimated value at pricing will be not less than $900 per $1,000 principal.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes due August 15, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked to the least performing of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index, each tracked separately rather than as a basket.

The notes pay a Contingent Interest Payment on each Review Date only if the closing level of each index is at least 60% of its Initial Value (the Interest Barrier). The illustrative Contingent Interest Rate is 8.10% per annum, or 0.675% per month, with total interest depending on how many Review Dates meet the barrier. Beginning on February 12, 2027, the notes are automatically called if on a Review Date (other than the first five and final) each index closes at or above its Initial Value, paying $1,000 plus that period’s interest and ending the investment. If not called, at maturity investors receive $1,000 plus final interest only if each index’s Final Value is at least its Trigger Value of 55% of Initial Value; otherwise the principal is reduced 1% for each 1% decline of the least performing index, with the potential for substantial or total loss of principal. The minimum denomination is $1,000, and the preliminary estimated value is about $962.40 per $1,000, not less than $900 at pricing.

JPMorgan Chase Financial Company LLC is offering $9,701,200 of unsecured, unsubordinated Trigger Step Securities linked to the EURO STOXX 50® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each Security has a $10 principal amount, trades on a fee-based basis through UBS, and matures on August 5, 2030 after a trade date of July 31, 2026.

At maturity, if the index Final Value is at or above the Step Barrier set at 100% of the Initial Value, investors receive principal plus the greater of a fixed Step Return of 51.15% or the actual index return. If the Final Value is below the Step Barrier but at or above the Downside Threshold of 75% of the Initial Value, principal is repaid. Below the Downside Threshold, repayment is reduced dollar-for-dollar with the negative index return, up to a total loss of principal. The Securities pay no interest or dividends, are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and have an estimated value of $9.821 per $10 Security at pricing, reflecting structuring and hedging costs. Tax counsel views them as open transactions/prepaid financial contracts, and expects Section 871(m) withholding not to apply to Non-U.S. Holders, though the IRS could disagree.

JPMorgan Chase Financial Company LLC is offering Uncapped Dual Directional Buffered Return Enhanced Notes due September 6, 2029, linked to the least performing of the Dow Jones Industrial Average, Russell 2000 Index and S&P 500 Index. The notes are unsecured obligations of JPMorgan Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., and are issued in minimum denominations of $1,000.

At maturity, if each index is above its initial level, investors receive principal plus 1.275 times the appreciation of the least performing index. If the worst index is between unchanged and down 20%, or if some are up and others are down by up to 20%, investors receive a positive return equal to the absolute decline of the worst index, capped by the 20% buffer. If any index falls by more than 20%, principal is reduced 1-for-1 beyond the 20% buffer, up to an 80% loss (minimum payment $200 per $1,000 note).

The notes pay no interest and provide no dividends from index constituents. An indicative estimated value is $972.90 per $1,000, and the final estimated value at pricing will not be less than $900.00, reflecting selling commissions, hedging costs and an internal funding rate. The notes are not bank deposits, are not FDIC insured, are not exchange-listed and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is offering capped dual directional buffered equity notes due March 2, 2028, linked to the lesser performing of the Russell 2000® and S&P 500® indices, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes provide unleveraged exposure to index movements, with a Maximum Upside Return of at least 36.00% and a 10.00% Buffer Amount on the downside.

If the lesser performing index finishes above its initial level, payment at maturity equals principal plus that index’s return, capped at the Maximum Upside Return. If the lesser performing index is flat or down by up to 10.00%, investors receive the absolute value of that decline, up to a maximum negative-return payout of $1,100 per $1,000 note. If either index falls by more than 10.00%, investors lose 1% of principal for every 1% decline beyond 10.00%, up to a 90.00% loss of principal.

The notes pay no interest, do not provide dividends, are unsecured and unsubordinated obligations of JPMorgan Financial, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. Minimum denomination is $1,000$964.90 per $1,000 note and will not be less than $900.00 when finalized. The notes are not expected to be listed, and secondary market prices are expected to be below the original issue price.

JPMorgan Chase Financial Company LLC is issuing $1,101,000 of Callable Contingent Interest Notes linked to the Nasdaq‑100, Russell 2000 and S&P 500, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on August 3, 2029, in minimum denominations of $1,000, and may be redeemed early at the issuer’s option on specified interest payment dates starting February 4, 2027.

The notes pay a Contingent Interest Rate of 10.00% per annum (2.50% per quarter) only if, on a Review Date, the closing level of each index is at or above its Interest Barrier of 70.00% of its Initial Value; otherwise no interest is paid for that period. If the notes are not redeemed early and, on the final Review Date, the Final Value of each index is at or above its Trigger Value (also 70.00% of Initial Value), investors receive full principal plus the final contingent coupon. If any index finishes below its Trigger Value, repayment is reduced by the decline of the Least Performing Index, down to a possible total loss of principal.

The price to public is $1,000 per note, including $18.50 in selling and structuring fees, for net proceeds of $981.50 per note. The issuer’s estimated value at pricing is $961.20 per $1,000 note, reflecting embedded costs and an internal funding rate. The notes are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., will not be listed on any exchange and may have limited or illiquid secondary trading.

JPMorgan Chase Financial Company LLC is issuing $530,000 of Auto Callable Contingent Interest Notes, fully and unconditionally guaranteed by JPMorgan Chase & Co., linked to the least performing of the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, and maturing on February 3, 2028.

The notes pay a 10.75% per annum Contingent Interest (0.89583% per month) only for months when each index closes at or above 70.00% of its Initial Value, and may be automatically called quarterly starting February 1, 2027 if each index is at or above its Initial Value, returning principal plus the applicable interest. If not called, and at maturity any index finishes below its 70.00% Trigger Value, repayment is reduced one-for-one with the decline of the least performing index, down to a total loss of principal.

The notes are unsecured, unsubordinated obligations of JPMorgan Financial, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. They are not listed, may be illiquid, have an estimated value of $978.80 per $1,000 at pricing, and offer no upside participation or dividends from the underlying indices.

JPMorgan Chase Financial Company LLC is issuing $783,000 of Uncapped Accelerated Barrier Notes due August 5, 2031, linked to the least performing of the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index. The notes are unsecured, unsubordinated obligations of JPMorgan Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., and expose investors to the credit risk of both entities.

The notes offer an uncapped leveraged upside of 1.765× any positive return of the least performing index at maturity. If all indices finish at or above 65% of their initial levels, investors receive principal back. If any index finishes below this 65% barrier, principal loss is 1% for each 1% decline of the least performing index, potentially resulting in a total loss of principal.

The price to the public is $1,000 per note, including $11.25 in selling commissions and issuer proceeds of $988.75 per note. The issuer’s estimated value is $967.80 per $1,000 note, reflecting embedded selling, structuring and hedging costs. The notes pay no interest or dividends, are not listed, and may have limited or no secondary market liquidity. U.S. tax counsel views the notes as prepaid financial contracts treated as “open transactions,” but the IRS could challenge this treatment.

JPMorgan Chase Financial Company LLC is issuing $209,000 of auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index, guaranteed by JPMorgan Chase & Co. The notes pay a 14.50% per annum Contingent Interest Rate (3.625% quarterly) only for Review Dates when the Index closes at or above 60% of the Initial Value (the Interest Barrier).

The notes may be automatically called starting February 1, 2027 if on a Review Date (excluding the first and final) the Index is at or above the Initial Value, returning $1,000 principal plus that period’s contingent interest. If not called, at maturity on August 5, 2031 investors receive $1,000 plus final contingent interest if the Index is at or above the Trigger Value (also 60% of Initial). Otherwise, payoff is $1,000 + $1,000 × Index Return, exposing holders to loss of a significant portion or all principal.

The underlying Index dynamically allocates leveraged exposure (0%–500%) to E-mini S&P 500 futures and is reduced by a 6.0% per annum daily deduction, which drags performance. The estimated value is $926.40 per $1,000 note versus a $1,000 issue price, reflecting structuring and distribution costs. Payments depend on the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and the notes will not be listed, so liquidity and secondary prices may be limited.

JPMorgan Chase Financial Company LLC is issuing $945,000 of unsecured Auto Callable Contingent Interest Notes due August 3, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked individually to the Nasdaq-100 Index, the Russell 2000 Index and the State Street SPDR S&P Regional Banking ETF, with payments based on the least performing underlying.

Investors may receive a 9.25% per annum Contingent Interest (0.77083% per month) on each Review Date only if the closing value of each underlying is at or above its Interest Barrier of 70% of its Initial Value; missed coupons can be paid later if the barrier is met. The notes are automatically called, starting February 1, 2027, if each underlying is at or above its Initial Value, returning principal plus due contingent interest; no further payments follow an automatic call.

If the notes are not called and, on the final Review Date, the Final Value of every underlying is at or above its Trigger Value of 60% of Initial Value, investors receive full principal plus due contingent interest and any unpaid coupons. If any underlying finishes below its Trigger Value, maturity repayment is reduced by the full negative return of the least performing underlying, leading to a loss of more than 40% and up to 100% of principal. The notes have a price to public of $1,000 per note, including $28.50 in selling commissions, versus an estimated value of $959.40, and will not be listed, so secondary liquidity and pricing are uncertain. All payments are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and the tax treatment is complex, including possible withholding for non-U.S. holders.

JPMorgan Chase Financial Company LLC is offering $5,430,000 of Auto Callable Contingent Interest Notes linked individually to the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Rate of 11.55% per annum (0.9625% per month) only for Review Dates when the closing level of each Index is at or above 70.00% of its Initial Value, the Interest Barrier. Starting with the February 1, 2027 Review Date, the notes are automatically called if on a Review Date (other than the first five and final) each Index closes 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, and on the final Review Date any Index closes below its Trigger Value of 70.00% of Initial Value, the maturity payment is reduced by the full decline of the Least Performing Index, potentially to zero. The notes are unsecured and 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 selling commissions of $5 per $1,000, and the issuer’s estimated value was $975.30 per $1,000 at pricing.