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, fully guaranteed by JPMorgan Chase & Co., is offering 7-year auto callable notes linked to the J.P. Morgan Multi-Asset Index (MAX). The notes have a $1,000 minimum denomination and a 100% participation rate in positive Index performance if held to maturity and not automatically called.
The Index tracks a dynamic notional portfolio of up to 10 excess return futures-based indices, converted to U.S. dollars where needed, reduced by a 1.00% per annum daily deduction and designed around an initial 4.0% volatility threshold. If on any annual Review Date (other than the final) the Index level is at or above the applicable Call Value, the notes are automatically called for $1,000 plus a Call Premium of at least 12.00% per annum. If never called, and held to maturity on September 1, 2033, investors receive full principal repayment and any upside based on the Index Return, subject to the credit risks of the issuer and guarantor. The estimated value will be no less than $900 per $1,000 principal amount when terms are set.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering 7-year auto-callable notes linked to the S&P Global 100 PR 5% Daily Risk Control 0.5% Deduction Index (USD) ER. The Index provides variable notional exposure to the S&P Global 100 Index while targeting 5% annualized volatility and deducting both a notional financing cost and a 0.50% per annum index fee.
The notes have a $1,000 minimum denomination, 100% participation in any positive Index return at maturity, and annual review dates from the pricing date on August 28, 2026 to the final review on August 29, 2033, with maturity on September 1, 2033. If on any non-final review date the Index level is at or above the applicable Call Value, the notes are automatically called and pay $1,000 plus a Call Premium of at least 11.75% per annum, after which no further payments are made. If never called and held to maturity, investors receive full principal repayment even if the Index has declined, subject to the credit risks of JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co., and may receive additional return if the Index has risen.
JPMorgan Chase Financial Company LLC is offering Step-Up Auto Callable Notes due September 1, 2033, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked to the S&P Global 100 PR 5% Daily Risk Control 0.5% Deduction Index (USD) ER, which targets 5% annualized volatility and deducts a 0.50% per annum index fee and a notional financing cost daily.
The notes may be automatically called on specified Review Dates starting September 1, 2027 if the Index is at or above a step-up Call Value (up to 106% of the Initial Value), paying $1,000 plus a Call Premium Amount of at least 11.75%–70.50% per $1,000. If never called, investors receive at maturity $1,000 plus an uncapped Additional Amount equal to $1,000 × Index Return × 100% Participation Rate, floored at zero, providing full principal repayment but no downside participation in Index losses.
The minimum denomination is $1,000. The notes pay no interest or dividends and are unsecured and unsubordinated, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The estimated value is indicated at about $906.70 per $1,000 note and will not be less than $900.00 per $1,000, reflecting embedded selling, structuring and hedging costs. The issuer expects limited liquidity, potential early acceleration in certain legal or regulatory circumstances, and U.S. tax treatment as contingent payment debt instruments.
JPMorgan Financial is offering auto callable contingent interest notes due August 29, 2031, linked to the MerQube US Large-Cap Vol Advantage Index and fully guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Payment only on Review Dates when the Index closes at or above 50.00% of its Initial Value (the Interest Barrier). If on any applicable Review Date from August 26, 2027 onward the Index closes at or above the Initial Value, the notes are automatically called for $1,000 plus the contingent interest, ending further payments.
If not called, and the Final Index Value is at least 50.00% of the Initial Value (the Trigger Value), investors receive $1,000 plus the final contingent interest; otherwise the payoff is $1,000 plus $1,000 times the Index return, so losses can exceed 50% of principal and reach 100%. The indicative Contingent Interest Rate is at least 10.50% per annum (2.625% per quarter), but interest may be zero for some or all periods. The Index employs leverage up to 500%, targets 35% implied volatility, and is reduced by a 6.0% per annum daily deduction, which drags performance and may cause the Index to decline even when its underlying futures strategy is flat or modestly positive. Estimated value is about $903.40 per $1,000 note (and not less than $900.00), reflecting selling costs, hedging and internal funding. Payments are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and the notes will not be listed, so liquidity may be limited.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination and is expected to price around August 26, 2026 and settle around August 31, 2026, maturing on August 30, 2029.
Investors may receive a contingent interest rate of at least 11.50% per annum (2.875% per quarter) on each Review Date when the Index is at or above 60.00% of the Initial Value, but interest is not guaranteed. The notes are automatically called, returning principal plus interest, if on any non‑first, non‑final Review Date the Index is at or above the Initial Value, beginning February 26, 2027. If the notes are not called and the Final Value is below the Trigger Value of 60.00% of the Initial Value, principal is reduced one‑for‑one with the Index loss, down to zero. The Index embeds a 6.0% per annum daily deduction and a daily notional financing cost on its QQQ-based exposure, meaning it will lag a similar index without these charges. The issuer indicates the estimated value would be about $925.60 per $1,000 note if priced on the reference date and will not be less than $900.00, reflecting structuring and distribution costs. Payments depend on the credit of both JPMorgan Financial and JPMorgan Chase & Co. and there is no listing or assured secondary liquidity.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Small-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a scheduled maturity on August 29, 2031 and are issued in minimum denominations of $1,000.
Investors may receive a Contingent Interest Payment on each Review Date if the Index closing level is at least 60.00% of the Initial Value, and the notes are automatically called if, on any non-initial, non-final Review Date, the Index is at or above the Initial Value; the earliest possible call date is February 26, 2027. If the notes are not called and the Final Value is below the Trigger Value (also 60.00% of the Initial Value), repayment of principal is reduced 1% for each 1% Index decline, potentially to zero. The Index embeds a 6.0% per annum daily deduction and can employ up to 500% futures exposure, creating leverage, volatility, and path-dependency risks. The indicative per-note price is $1,000, while the estimated value, if priced today, would be about $900.30 and will not be less than $900.00 per $1,000 note, reflecting selling commissions, hedging costs, and issuer funding assumptions.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a quarterly Contingent Interest Payment only when the Index is at or above 60.00% of its Initial Value on a Review Date. The notes may be automatically called on any Review Date from February 26, 2027 (excluding the first and final) if the Index is at or above the Initial Value, returning $1,000 per note plus the applicable interest and ending further payments.
If the notes are not called, and on the final Review Date the Index is at or above the Trigger Value of 60.00% of the Initial Value, investors receive $1,000 plus the final Contingent Interest Payment. If the Final Value is below the Trigger Value, repayment is reduced 1% for each 1% Index decline from the Initial Value, down to zero, so principal can be largely or entirely lost. The Index embeds a 6.0% per annum daily deduction, which drags performance and can cause declines even when its futures strategy is flat or modestly positive. The hypothetical Contingent Interest Rate will be at least 11.50% per annum, and the estimated value per $1,000 note is currently about $919.40, not less than $900 at pricing, reflecting structuring and hedging costs. Notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. and will not be listed; liquidity and secondary market pricing are uncertain.
JPMorgan Chase Financial Company LLC is offering Uncapped Accelerated Barrier Notes due September 5, 2031, linked to the lesser performance of the iShares MSCI EAFE ETF and the EURO STOXX 50 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes provide leveraged upside, paying at maturity 2.10 times any positive return of the lesser performing underlying, with no cap, if both finish at or above their initial values. If either underlying finishes at or below its initial value but at or above its Barrier Amount of 65% of initial, investors receive only the $1,000 principal.
If either underlying’s final value is below its barrier, repayment is reduced one-for-one with the decline of the lesser performer, so investors can lose up to 100% of principal. The notes pay no interest, provide no dividends or rights in the underlyings, and are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The minimum denomination is $1,000, and the estimated value is indicated to be below the $1,000 issue price, reflecting selling commissions, hedging costs and issuer funding assumptions.
JPMorgan Chase Financial Company LLC is offering Structured Investments Review Notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called on annual Review Dates from August 30, 2027 through August 26, 2031 if the Index is at or above 100% of its Initial Value, paying $1,000 plus a Call Premium of at least 26.25%, 52.50%, 78.75%, 105.00% or 131.25% of principal depending on the call year.
If not called, and the Final Index Value is at or above the 50% Barrier, investors receive principal back at maturity on August 29, 2031; if below the Barrier, repayment is $1,000 plus $1,000 × Index Return, creating the risk of losing more than half, up to all, of principal. The underlying Index employs a volatility-targeting strategy on E-mini S&P 500 futures with leverage between 0% and 500% and is subject to a 6.0% per annum daily deduction, which acts as a persistent drag on performance. The indicative estimated value is about $888 per $1,000 note, and will not be less than $870, reflecting dealer costs and hedging. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and will not be listed, so liquidity will depend on dealer trading.
JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes due September 6, 2029, linked to the MerQube US Large-Cap Vol Advantage Index, in minimum denominations of $1,000, fully and unconditionally guaranteed by JPMorgan Chase & Co.
Holders may receive a quarterly Contingent Interest Payment if, on a Review Date, the Index is at or above 60.00% of the Initial Value (the Interest Barrier). The notes are automatically called if on any non-initial, non-final Review Date the Index is at or above the Initial Value, with investors then receiving $1,000 plus the applicable contingent interest and no further payments. If not called and the Final Value is below the Trigger Value of 60.00% of the Initial Value, principal is reduced one-for-one with the Index decline, up to a total loss.
The indicative Contingent Interest Rate is at least 13.50% per annumestimated value would be about $941 per $1,000 note and will not be less than $900. The underlying Index employs up to 500% leveraged exposure to E-mini S&P 500 futures, targets 35% implied volatility, and is subject to a 6.0% per annum daily deduction, which creates a drag on performance. Payments depend on JPMorgan Financial’s and JPMorgan Chase & Co.’s credit.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price on or about August 31, 2026 and settle on or about September 3, 2026, with maturity on September 5, 2031 and minimum denominations of $1,000.
Investors may receive a Contingent Interest Payment on each Review Date if the Index is at or above 60.00% of the Initial Value, the Interest Barrier. The notes are automatically called if, on any Review Date other than the first and final, the Index is at or above the Initial Value; the earliest possible automatic call is March 1, 2027. If not called and the Final Value is below the Trigger Value (also 60.00% of the Initial Value), principal is reduced 1% for every 1% Index decline, potentially to zero.
The Index employs a volatility-targeting strategy using E-mini S&P 500 futures with exposure between 0% and 500% and applies a 6.0% per annum daily deduction, which creates a drag on performance. The indicative Contingent Interest Rate is at least 14.50% per annum, and if the notes priced on the date described, their estimated value would be approximately $926.60 per $1,000 principal amount, not less than $900. Any payments are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. and the notes will not be listed, so liquidity may be limited.
JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes due August 29, 2031, linked to the MerQube US Tech+ Vol Advantage Index, in minimum denominations of $1,000. The notes are fully and unconditionally guaranteed by JPMorgan Chase & Co. and expose investors to the credit risk of both entities.
Investors may receive a Contingent Interest Payment on each Review Date only if the Index closing level is at least 60.00% of the Initial Value (the Interest Barrier). The notes will be automatically called if, on any Review Date other than the first and final, the Index is at or above the Initial Value; the earliest possible call date is February 26, 2027. If called, holders receive $1,000 plus the applicable interest and no further payments.
If the notes are not called and the Final Value is at least the Trigger Value (also 60.00% of Initial Value), investors receive $1,000 plus the final contingent interest. If the Final Value is below the Trigger Value, repayment is reduced to $1,000 + ($1,000 × Index Return), so investors may lose a substantial portion or all of principal. The Contingent Interest Rate will be at least 12.25% per annum (3.0625% per quarter). The Index includes a 6.0% per annum daily deduction and a daily notional financing cost, uses leverage up to 500%, and targets 35% implied volatility, all of which can materially drag on performance. If priced today, the estimated value would be about $909.70 per $1,000 note and will not be less than $900.00 at pricing, reflecting selling costs, hedging and internal funding assumptions.
JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co., maturing on September 5, 2031.
The notes pay a contingent interest rate of at least 11.75% per annum, but only for Review Dates when the Index closes at or above 50% of its Initial Value. Starting with the fourth Review Date, the notes are automatically called if the Index is at or above its Initial Value, returning $1,000 per note plus the applicable interest, with no further payments.
If not called, principal is protected only if the Final Index level is at or above 50% of the Initial Value; otherwise, repayment is reduced one‑for‑one with the Index loss, down to zero. The Index itself is complex: it targets 35% volatility, can use up to 500% leveraged exposure to an unfunded position in the Invesco QQQ Fund, and is reduced by a 6.0% per annum daily deduction plus a daily notional financing cost (SOFR + 0.50%), which together drag on performance. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and may be illiquid.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes maturing on September 5, 2031, linked to the MerQube US Small-Cap Vol Advantage Index and fully guaranteed by JPMorgan Chase & Co. Investors receive a Contingent Interest Payment only for Review Dates when the Index closes at or above 60% of the Initial Value; no fixed interest is promised and the notes may pay no interest at all.
The notes are auto-called if, on any non-initial, non-final Review Date, the Index is at or above its Initial Value, returning $1,000 principal plus that period’s contingent interest, with no further payments. If not called, and the Final Value is at or above the Trigger Value (also 60% of Initial Value), investors receive $1,000 plus the final contingent coupon. If the Final Value is below the Trigger Value, repayment is $1,000 plus $1,000 × Index Return, so principal loss is one-for-one with Index decline and can reach 100%.
The underlying Index dynamically allocates between 0% and 500% exposure to E-mini Russell 2000 futures, targets 35% implied volatility and embeds a 6.0% per annum daily deduction, which creates a material drag on performance. The indicative Contingent Interest Rate is at least 14.50% per annum, partly reflecting this drag and the structured risk. The notes are unsecured, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., are not listed, may have limited liquidity, and carry complex tax treatment and potential conflicts of interest. The estimated value at pricing is expected to be below par.
JPMorgan Chase Financial Company LLC is offering structured 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 pay a Contingent Interest Payment on a Review Date only if the Index closes at or above 50.00% of the Initial Value, which also serves as the Interest Barrier. The notes are automatically called, as early as August 31, 2027, if on a non-excluded Review Date the Index closes at or above the Initial Value, returning $1,000 plus the applicable contingent interest, after which no further payments are made.
If the notes are not called and the Final Value is below the Trigger Value (50.00% of Initial Value), principal is reduced 1% for each 1% Index decline, down to zero, so investors may lose all principal and may receive no interest. The Index is subject to a 6.0% per annum daily deduction, which drags performance and can cause the Index to underperform an identical index without such a deduction. The minimum denomination is $1,000. If priced today, the estimated value would be about $926.40 per $1,000 note and will not be less than $900.00 at pricing, reflecting selling costs and hedging economics. Payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co., and no secondary market or liquidity is assured.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Payment on each Review Date only if the Index closes at or above 60.00% of the Initial Value (the Interest Barrier). They are automatically called, beginning March 1, 2027, if on a Review Date (other than the first and final) the Index closes at or above the Initial Value, in which case investors receive $1,000 plus the applicable contingent interest and no further payments.
If not called and the Final Value is at least the Trigger Value of 60.00% of the Initial Value, investors receive principal plus the final contingent interest; if the Final Value is below the Trigger Value, repayment is $1,000 + ($1,000 × Index Return), so principal loss can reach 100%. The Index embeds a 6.0% per annum daily deduction and a daily notional financing cost, which drag performance and cause it to trail an identical index without such charges. The hypothetical contingent interest rate is 14.50% per annum (3.625% quarterly). If priced today, the estimated value would be about $936.30 per $1,000 and will not be less than $900.00 per $1,000 at pricing. The notes are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. and will not be listed, so liquidity depends on dealer interest.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes due September 6, 2029, linked to the MerQube US Tech+ Vol Advantage Index and fully guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Payment on each Review Date only if the Index closes at or above an Interest Barrier of 60% of the Initial Value. The Contingent Interest Rate will be at least 13.50% per annum, or 3.375% per quarter.
The notes are automatically called if, on any Review Date other than the first and final, the Index closes at or above its Initial Value; the earliest call date is March 1, 2027. If not called and the Final Value is below a Trigger Value equal to 60% of the Initial Value, principal is reduced 1% for each 1% Index decline, down to zero. Investors do not participate in any Index upside beyond interest and forgo dividends.
The Index applies significant structural drags: a 6.0% per annum daily deduction and a daily notional financing cost on its QQQ Fund exposure, with dynamic leverage up to 500% targeting 35% implied volatility. The estimated value would be about $949.70 per $1,000 note if priced today and will not be less than $900 at pricing, reflecting selling costs and internal funding assumptions. The notes are unsecured, subject to JPMorgan credit risk, may have limited liquidity, and carry complex tax and index-specific risks.
JPMorgan Chase Financial Company LLC is offering $785,000 of Capped Buffered Return Enhanced Notes linked to the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co., and maturing on November 4, 2027.
The notes provide 2.00x any S&P 500 appreciation, capped at a maximum total return of 11.50%, and include a 10.00% downside buffer; beyond this buffer, principal losses increase 1% for each additional 1% Index decline, up to a 90.00% loss. They pay no interest or dividends, are unsecured and unsubordinated, and expose investors to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The price to public is $1,000 per note, while the estimated value at pricing is $975.20 per $1,000 note.
JPMorgan Chase Financial Company LLC is issuing $1,865,000 of Auto Callable Contingent Interest Notes linked to ServiceNow, Inc. common stock, due August 3, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Rate of 18.65% per annum, credited quarterly (4.6625% per quarter), but only for Review Dates when the stock’s closing price is at or above a 50.00% Interest Barrier of the Initial Value. The notes are automatically called if, on any non-final Review Date, the stock closes at or above the Initial Value, in which case investors receive $1,000 per note plus the applicable contingent interest and no further payments.
If the notes are not called, and on the final Review Date the stock is at or above the Trigger Value (also 50.00% of the Initial Value), investors receive $1,000 plus the final contingent interest. If the Final Value is below the Trigger Value, repayment is reduced 1% for every 1% decline from the Initial Value, exposing investors to losses up to their entire principal. The notes are unsecured obligations of JPMorgan Financial, guaranteed by JPMorgan Chase & Co., with an original issue price of $1,000, estimated value of $944.30, and minimum denominations of $1,000.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Digital Contingent Buffered Notes linked to the S&P 500 Index. The notes have a Contingent Digital Return of 9.37%, so if at maturity the S&P 500® closing level is at or above the Index Strike Level, or down by up to the 20.00% Contingent Buffer Amount, investors receive $1,093.70 per $1,000 note.
If the Index declines by more than 20.00% from the Index Strike Level of 7,316.15, the maturity payment is reduced 1% for each 1% Index loss, potentially down to zero. The notes are priced at $1,000 each, with total offering proceeds of $5,250,000 and net proceeds to the issuer of $5,195,295; the estimated value is $987.90 per $1,000 note. The Pricing Date is July 30, 2026, Valuation Date August 30, 2027, and Maturity Date September 2, 2027.
The product carries tax complexity, including treatment as prepaid financial contracts and discussion of Section 871(m) for Non-U.S. Holders, and it involves risks such as loss of principal beyond the buffer, limited liquidity, conflicts of interest in pricing and hedging, and secondary market values that may differ from the estimated value.
JPMorgan Chase Financial Company LLC is offering $1,065,000 of Digital Barrier Notes linked to the least performing of the Dow Jones Industrial Average, the S&P 500 Equal Weight Index and the State Street Energy Select Sector SPDR ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a fixed 9.75% return at maturity per $1,000 only if, on the August 30, 2027 observation date, the final value of each underlying is at least 70% of its initial value; in that case, investors receive $1,097.50 at maturity. If any underlying finishes below its barrier, repayment is $1,000 plus the return of the least performing underlying, exposing investors to losses greater than 30% and down to a complete loss of principal.
The notes mature on September 2, 2027, are issued in $1,000 minimum denominations, pay no interest or 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 price to the public is $1,000 per note, including selling commissions, while the issuer’s estimated value is $984.70 per $1,000 note. The notes will not be listed, and secondary market prices are expected to be below the issue price.
JPMorgan Chase Financial Company LLC is offering Uncapped Dual Directional Buffered Return Enhanced Notes linked to the lesser performing of the Russell 2000® Index and the S&P 500® Index, due September 6, 2029, in minimum denominations of $1,000, fully and unconditionally guaranteed by JPMorgan Chase & Co.
At maturity, investors receive 1.20x any positive return of the lesser performing index, or a positive, uncapped return equal to the absolute value of any decline up to a 15.00% Buffer Amount. If either index falls by more than 15%, principal is reduced 1% for each additional 1% decline, down to a minimum payment of $150.00 per $1,000 note (an 85% loss of principal).
The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and are not bank deposits or FDIC insured. If priced on the date shown, the estimated value would be $977.20 per $1,000 note, and at issuance will not be less than $900.00 per $1,000, reflecting selling commissions, hedging costs and issuer funding assumptions. Liquidity is expected to be limited, with no exchange listing and secondary prices typically below the original issue price.
JPMorgan Chase Financial Company LLC is offering structured Capped Dual Directional Buffered Equity Notes linked to the lesser performing of the Russell 2000 Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co., and maturing on September 30, 2027.
The notes provide unleveraged upside to index appreciation and, if the lesser performing index ends down by up to the 10.00% Buffer Amount, a positive return equal to that decline, in each case capped by a Maximum Upside Return of at least 15.00%. If either index falls by more than 10.00%, principal is exposed 1:1 to the decline beyond the buffer, with up to 90.00% loss of principal at maturity. The minimum denomination is $1,000, and an indicative estimated value is $963.90 per $1,000, not less than $900. Payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co. and the performance of each index individually.
JPMorgan Chase Financial Company LLC is offering structured notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes can be automatically called on scheduled Review Dates starting August 13, 2027 if the Index closes at or above the Call Value, paying back $1,000 plus a Call Premium of at least 28%–140% of principal depending on the call date.
If not called, and the Final Index Level is at or above the 60% Barrier Amount at maturity on August 15, 2031, investors receive principal only; if it is below the Barrier, repayment is $1,000 plus $1,000 × Index Return, exposing investors to losses greater than 40% and up to total loss of principal. The underlying Index employs a 6.0% per annum daily deduction and a daily notional financing cost on exposure to the Invesco QQQ Trust, with dynamic leverage between 0% and 500% targeting 35% implied volatility, which can significantly drag performance. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., have a minimum denomination of $1,000, and are expected to price around August 12, 2026. The estimated value is about $940 per $1,000 note on the trade date and will not be less than $920, reflecting embedded costs and internal funding and pricing assumptions.
JPMorgan Chase Financial Company LLC is offering $515,000 of Auto Callable Digital Barrier Notes linked to the least performing of the S&P 500® Index, Russell 2000® Index and Nasdaq-100 Index®, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes may be automatically called on August 5, 2027 if each index is at or above its Call Value (100% of its Initial Value), paying $1,120 per $1,000 note (principal plus a $120 Call Premium Amount). If not called and on the Observation Date each index is at or above its Initial Value, the maturity payment per $1,000 note equals principal plus the greater of a 65.00% Contingent Digital Return or the Least Performing Index Return.
If the notes are not called and any index finishes below its Initial Value but at or above its Barrier Amount of 70.00% of Initial Value, investors receive only principal back. If any index finishes below its Barrier Amount, maturity payment is $1,000 plus $1,000 times the Least Performing Index Return, so investors can lose more than 30.00% and up to 100% of principal. The notes pay no interest or dividends, are unsecured, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not be listed. The price to public is $1,000 per note, including $7.50 in selling commissions; the estimated value at pricing is $963.50 per $1,000 note.
JPMorgan Chase Financial Company LLC is offering Capped 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, provides 1.50x leveraged upside to any increase in the ETF, and caps total return at a Maximum Return of at least 125.00%, corresponding to a maximum payment of at least $2,250 per $1,000 at maturity.
The notes use a 70.00% Barrier Amount of the Initial Value. If the Final Value is at or above this barrier, investors receive at least full principal; if the Final Value falls below the barrier, repayment is fully exposed to the ETF’s decline, with losses matching the Fund’s negative return and up to a 100% loss of principal. The notes pay no interest and are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.
The notes are expected to price on or about August 26, 2026, with maturity on August 30, 2029 and a single observation on August 27, 2029. If priced on the date shown, the estimated value would be approximately $935.20 per $1,000 note and will not be less than $900.00, reflecting embedded costs, hedging, and dealer compensation. The product entails significant risks tied to bitcoin volatility, potential Fund discontinuation and acceleration, lack of liquidity, and complex U.S. tax and withholding rules.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., plans to issue 5-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 return. The Index tracks a dynamic notional portfolio of up to 10 excess return futures-based indices across equities, fixed income and commodities, less a 1.00% per annum daily deduction, with an initial 4.0% volatility threshold.
The pricing date is August 31, 2026, with annual review dates through a final review date on September 2, 2031 and a maturity date on September 5, 2031. If on any review date (other than the final) the Index level is at or above the applicable Call Value, the notes are automatically called and pay $1,000 plus a call premium (at least 8.75% per annum) and then terminate. If not called and held to maturity, investors receive full principal repayment even if the Index has declined, and if the Final Value exceeds the Initial Value they also receive the Index Return multiplied by the 100% participation rate, all subject to the credit risks of JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. The estimated value when set will be not less than $900 per $1,000 note. The notes pay no interest, have limited liquidity, and embed numerous market, credit, strategy and tax risks.
JPMorgan Chase Financial Company LLC is offering $1,788,000 of Auto Callable Notes linked to the J.P. Morgan Multi-Asset Index, due August 4, 2033, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination and a 100% participation rate in Index gains if held to maturity and not called.
The notes may be automatically called on scheduled Review Dates starting August 3, 2027 if the Index closes at or above increasing Call Values (from 101% to 106% of the Initial Value), paying back principal plus a fixed Call Premium of 10.50%–63.00%. If never called, investors receive full principal at maturity plus any positive Index Return, with no cap, but no additional amount if the Final Value is at or below the Initial Value.
The offering price is $1,000 per note, including $34 in selling commissions and other costs, while the issuer’s estimated value is $902.90 per $1,000 note. The notes pay no periodic interest, are unsecured and unsubordinated, and expose investors to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., as well as liquidity, structural and strategy risks associated with the Multi-Asset Index.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked individually to the Nasdaq-100 Index, the Russell 2000 Index and the SPDR S&P Regional Banking ETF, maturing on July 11, 2028, in minimum denominations of $1,000.
Investors may receive a Contingent Interest Payment on each monthly Review Date only if the closing value of each underlying is at or above its Interest Barrier of 70.00% of its Initial Value. From the sixth Review Date onward, the notes are automatically called if each underlying is at or above its Initial Value, returning $1,000 plus the applicable interest and ending future payments; the earliest potential call date is February 8, 2027.
If the notes are not called and, on the final Review Date, any underlying is below its Trigger Value of 60.00% of its Initial Value, principal is reduced one-for-one with the decline of the least-performing underlying, and investors can lose a significant portion or all of their investment. The indicative Contingent Interest Rate is at least 12.10% per annum (about 1.00833% per month). The estimated economic value is currently about $980.50 per $1,000 note and will not be less than $900.00 when set, reflecting structuring and distribution costs. The notes are unsecured, not FDIC insured, and subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., offers 5-year non-call 6-month auto callable contingent interest notes linked to the MerQube Bitcoin Vol Advantage Index. The notes have a $1,000 minimum denomination and quarterly review dates from August 31, 2026 to maturity on September 5, 2031.
The Index provides rules-based exposure to an unfunded position in the iShares Bitcoin Trust ETF, with 0%–500% exposure, and reflects a 6.0% per annum daily deduction plus a notional financing cost on the ETF performance. The notes pay a contingent interest rate of at least 14.50% per annum (at least 3.625% per quarter) when the Index is at or above a barrier equal to 60.00% of the Initial Value.
The notes may be automatically called on any non-first, non-final review date if the Index is at or above its Initial Value, paying $1,000 plus the applicable contingent interest. If not called, and the Final Value is at or above the Trigger Value (60% of Initial Value), investors receive $1,000 plus final contingent interest; otherwise the payoff is $1,000 + ($1,000 × Index Return), exposing holders to losses greater than 40% and potentially a total loss of principal. The estimated value will not be less than $900 per $1,000 principal and all payments are subject to the credit risk of the issuer and guarantor.
JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes linked to the common stock of Blackstone Inc., due August 16, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are unsecured, unsubordinated obligations in minimum denominations of $1,000.
Investors may receive a Contingent Interest Payment on each Review Date only if Blackstone’s share price is at or above 60.00% of the Initial Value, the Interest Barrier. The notes are automatically called, returning principal plus the relevant interest, if on any non-final Review Date the share price is at or above the Initial Value.
If the notes are not called and the Final Value is below the Trigger Value (also 60.00% of the Initial Value), repayment of principal is reduced one-for-one with the stock’s decline, potentially to zero. An indicative estimated value is about $960 per $1,000 note and will not be less than $940, reflecting embedded selling, structuring and hedging costs.
JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes due February 20, 2029, linked to the Nasdaq-100, Russell 2000 and S&P 500, in minimum denominations of $1,000, fully and unconditionally guaranteed by JPMorgan Chase & Co.
Investors may receive a Contingent Interest Payment on each Review Date only if every index closes at or above its Interest Barrier of 80% of its Initial Value. From the sixth Review Date onward (earliest possible on February 16, 2027), the notes are automatically called if every index is at or above its Initial Value, paying $1,000 plus the applicable contingent interest and then terminating.
If not called, and on the final Review Date any index is below its Trigger Value of 70% of its Initial Value, principal is reduced 1% for each 1% decline of the least performing index, up to a total loss. The indicative contingent rate is 9.00%–11.00% per annum, and the current estimated value is about $950.80 per $1,000 note, not less than $900. Payments are subject to the unsecured credit of JPMorgan Financial and JPMorgan Chase & Co., and the notes will not be listed, so liquidity may be limited.
JPMorgan Chase Financial Company LLC is offering Capped Accelerated Barrier Notes linked to the iShares® Bitcoin Trust ETF (IBIT), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes provide 1.50x leveraged upside to any increase in the ETF, subject to a Maximum Return of at least 140.00%, corresponding to a maximum payment of at least $2,400 per $1,000 note at maturity.
A Barrier Amount of 70.00% of the initial ETF price applies: if the final price is at or above the barrier, principal is repaid; if it falls below, repayment is reduced one-for-one with the ETF decline, and investors can lose all principal. The notes pay no interest, are unsecured obligations of JPMorgan Financial, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. They are not listed on any exchange, so liquidity may be limited.
The notes are expected to price on or about August 31, 2026, settle on or about September 3, 2026, and mature on September 6, 2029, with a final observation date of August 31, 2029. If priced on the reference date, the estimated value would be about $957.50 per $1,000 note and will not be less than $900.00, reflecting selling commissions, hedging costs and an internal funding rate. The structure embeds significant risks tied to bitcoin’s high volatility and evolving regulation, as well as complex U.S. tax treatment.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the MerQube Bitcoin Vol Advantage Index, an excess-return index providing leveraged, volatility-targeted exposure to an unfunded position in the iShares Bitcoin Trust ETF, less a 6.0% per annum daily deduction and a notional financing cost.
The notes pay a quarterly Contingent Interest Payment only if the Index on a Review Date is at or above 60.00% of its Initial Value, at a Contingent Interest Rate of at least 14.50% per annum
JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated uncapped accelerated barrier notes linked to the lesser performer of the iShares MSCI EAFE ETF and the EURO STOXX 50 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price on or about August 26, 2026, settle on or about August 31, 2026 and mature on August 29, 2031, in minimum denominations of $1,000.
At maturity, if both underlyings finish at or above their initial values, investors receive principal plus 1.95x the gain of the lesser performing underlying. If either underlying finishes at or below its initial value but both remain at or above the 70% Barrier Amount, principal is returned. If either closes below its barrier, repayment is reduced 1% for each 1% decline of the lesser performer from its initial value, potentially down to zero. The notes pay no interest or dividends, carry full downside below the barrier, are subject to JPMorgan credit risk and may have limited liquidity. The initial estimated value is indicated at about $927.80 per $1,000, and will not be less than $900 per $1,000, reflecting embedded costs and hedging.
JPMorgan Chase Financial Company LLC is offering auto callable yield notes due August 6, 2027, linked to the least performing of the S&P 500, EURO STOXX 50 and Nikkei 225, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay interest at an annual rate of at least 12.20%, credited monthly at a rate of at least 1.01667%, as long as the notes remain outstanding. The notes may be automatically called on scheduled review dates beginning November 4, 2026 if the closing level of each index is at or above its initial value, in which case investors receive $1,000 per note plus the applicable interest and no further payments.
If not called, principal repayment at maturity depends on index performance. If the final level of each index is at or above 75% of its initial value, investors receive $1,000 plus the final interest payment. If any index ends below 75% of its initial value, repayment is reduced by the full decline of the least performing index, and investors can lose more than 25% and up to all of their principal. The notes are unsecured, not listed, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and have an estimated value of approximately $970 per $1,000 note (not less than $960) at pricing.
JPMorgan Chase Financial Company LLC plans to issue uncapped dual directional buffered return enhanced notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500 indices, fully guaranteed by JPMorgan Chase & Co. The notes are expected to price on or about August 31, 2026, settle on or about September 3, 2026 and mature on September 6, 2029, in minimum denominations of $1,000.
At maturity, investors receive leveraged upside of at least 1.38x any positive return of the least performing index. If the least performing index is flat or down by up to the 15.00% Buffer Amount, investors earn a positive, uncapped return equal to the absolute decline, capped at $1,150 per $1,000 note when the negative return hits the buffer. If any index falls by more than 15%, principal is reduced 1% for each 1% loss beyond the buffer, for a maximum loss of 85.00%, so the minimum maturity payment is $150 per $1,000 note.
The notes pay no interest, provide no dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and are not expected to be listed, limiting liquidity. If priced today, the estimated value would be about $961.10 per $1,000 note and will not be less than $900.00 at pricing, reflecting embedded costs and hedging charges.
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 mature on August 15, 2029 and are issued in minimum denominations of $1,000.
At maturity, investors receive 1.60 times any positive index return with no cap, a 15.00% buffer against moderate declines, and can lose up to 85.00% of principal if the index falls sharply. The notes pay no interest and are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. An indicative estimated value is about $970 per $1,000 note and will not be less than $950 at pricing, reflecting embedded selling, structuring and hedging costs.
The underlying index tracks the excess return of rolling E-mini® S&P 500® futures. Performance may differ materially from the S&P 500® Index due to futures pricing, financing costs, dividend effects and potential negative roll returns, and the notes may be illiquid as they are not exchange listed.
JPMorgan Chase Financial Company LLC is issuing $312,000 of Auto Callable Accelerated Barrier Notes linked to the Class B common stock of NIKE, Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and was priced on July 30, 2026, with settlement expected on or about August 4, 2026.
The notes may be automatically called on August 2, 2027 if NIKE’s share price is at or above the Call Value (100% of the Initial Value), paying $1,000 + $285 per note. If not called, at maturity on August 2, 2029 investors receive: leveraged upside of 1.50x any stock appreciation; par return if the Final Value is at or above the Barrier Amount (60% of the Initial Value); or a 1-for-1 loss with the stock if the Final Value is below the barrier, potentially losing all principal.
The Initial Value was $42.29 per share, and the Barrier Amount is $25.374. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., will not be listed on an exchange, and have an estimated value of $951.90 per $1,000 at pricing, below the issue price due to selling, structuring and hedging costs.
JPMorgan Chase Financial Company LLC is offering Uncapped Accelerated Barrier Notes linked to the Bloomberg Commodity Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are unsecured, unsubordinated obligations with minimum denominations of $1,000 and mature on August 29, 2031.
At maturity, if the Index has risen, investors receive principal plus at least 2.10× the Index gain. If the Index is flat or down but at or above 70% of the Initial Value, principal is returned. If the Index finishes below the 70% barrier, repayment is reduced one-for-one with the Index decline, with a minimum payment of $0, so investors can lose more than 30% and up to all principal.
The notes pay no interest, are not bank deposits, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. An initial estimated value is indicated at $933 per $1,000, and will not be less than $900 when set, reflecting embedded costs and hedging. Risks highlighted include potential early acceleration upon a commodity hedging disruption event, high volatility of commodity futures, lack of liquidity, and secondary market prices likely below the original issue price.
JPMorgan Chase Financial Company LLC is offering callable contingent interest notes due August 8, 2031, 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.
Investors may receive a contingent interest rate of at least 11.50% per annum, paid monthly, but only for Review Dates when the closing level of each Index is at or above its Interest Barrier of 70.00% of its Initial Value. If any Index is below its barrier on a Review Date, no interest is paid for that month. JPMorgan may redeem the notes early on specified Interest Payment Dates starting February 10, 2027, paying $1,000 per note plus any due contingent interest.
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 of 60.00% of its Initial Value, investors receive $1,000 per note plus any final contingent interest. If any Index finishes below its Trigger Value, repayment of principal is reduced one-for-one with the decline of the Least Performing Index, and investors can lose more than 40% and up to 100% of principal. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., will not be listed on any exchange, and have an estimated value of about $970 per $1,000 at pricing, not less than $950.
JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated Auto Callable Contingent Interest Notes due February 20, 2029, 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.
Investors may receive a monthly Contingent Interest Payment only if on a Review Date the closing level of each index is at least 70.00% of its Initial Value, the Interest Barrier. From the sixth Review Date (earliest February 16, 2027), the notes are automatically called if each index is at or above its Initial Value, paying $1,000 plus the applicable contingent interest.
If not called, at maturity investors receive $1,000 plus the final contingent interest if each index is at or above its Trigger Value (also 70.00% of Initial Value). If any index is below its Trigger Value, repayment is reduced 1% for each 1% decline of the least performing index, down to a complete loss of principal. The estimated value is expected to be below the $1,000 issue price, and the notes involve credit, market, liquidity and tax risks.
JPMorgan Chase Financial Company LLC is offering Auto Callable Accelerated Barrier Notes linked to the iShares Bitcoin Trust ETF (IBIT), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are unsecured, unsubordinated obligations with a scheduled maturity on September 6, 2029, and a potential automatic call on September 7, 2027.
The structure provides an Upside Leverage Factor of 1.50 on any positive Fund return at maturity if the notes are not called, and a contingent Call Premium of at least $202.50 per $1,000 if the Fund is at or above the Call Value on the Review Date. Principal is protected only down to a Barrier Amount of 70.00% of the Initial Value; if the Final Value is below this level and the notes have not been called, repayment is reduced one-for-one with the Fund’s loss and investors can lose most or all of their principal.
The notes pay no interest, will not be listed on an exchange, and secondary market liquidity is expected to be limited. The estimated value is indicated at about $956.40 per $1,000 (not less than $900.00 when set), reflecting embedded costs. The product embeds exposure to bitcoin through the ETF, and the issuer highlights extensive risks related to bitcoin’s volatility, regulatory uncertainty, custody, market structure, and the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering $501,000 principal amount of Capped Accelerated Barrier Notes linked to the least performing of the Dow Jones Industrial Average, Russell 2000 Index and Nasdaq-100 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes price at $1,000 per note, with selling commissions of $7.50 per $1,000 and estimated proceeds of $992.50 per note to the issuer.
At maturity on August 4, 2031, investors receive 4.00 times any positive return of the least performing index, capped at a 102.00% maximum return (up to $2,020 per $1,000). Principal is returned only if each index finishes at or above 70.00% of its initial level; if any index ends below this barrier, repayment is reduced one-for-one with the least performing index return, and investors can lose up to 100% of principal. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of both the issuer and guarantor, have an estimated initial value of $976 per $1,000, and are not expected to be listed, limiting liquidity.
JPMorgan Chase Financial Company LLC is offering Uncapped Accelerated Barrier Notes due August 29, 2031, linked to the least performing of the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, in minimum denominations of $1,000 per note. The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial and are fully and unconditionally guaranteed by JPMorgan Chase & Co., exposing holders to the credit risk of both entities.
At maturity, investors receive an uncapped leveraged upside of at least 1.60x any positive return of the least performing index; if that index is flat or any index is below its initial level but all remain at or above the 70.00% Barrier Amount, principal is returned. If any index finishes below its barrier, principal is reduced 1% for each 1% decline of the least performing index, up to total loss.
The notes pay no interest or dividends and will not be listed, so liquidity depends on J.P. Morgan Securities LLC making a market. If priced on August 3, 2026, the estimated value would be about $932.80 per $1,000 note and will not be less than $900.00 at pricing, reflecting embedded selling commissions, hedging costs and issuer margins. The filing highlights extensive risk factors, including market, small-cap, non-U.S. securities, structural, credit, liquidity, valuation and U.S. federal tax risks.
JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes due August 11, 2032, linked to the MerQube US Large-Cap Vol Advantage Index and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are issued in $1,000 minimum denominations.
Investors may receive a Contingent Interest Payment on each monthly review date only if the Index closes at or above 70.00% of the Initial Value (the Interest Barrier). The notes are automatically called on quarterly dates if the Index is at or above the Initial Value, with the earliest call on August 6, 2027. If the notes are not called and the Final Value is below the 50.00% Trigger Value, repayment of principal is reduced one-for-one with the Index loss, down to zero.
The Index dynamically allocates exposure of up to 500% to E-mini S&P 500 futures to target 35% implied volatility and is subject to a 6.0% per annum daily deduction, which creates a significant drag versus a similar index without a deduction. An example estimated value is $920.80 per $1,000 note if priced today, and the final estimated value will not be less than $900.00 per $1,000. Payments are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and the notes will not be listed, so liquidity may be limited.
JPMorgan Chase Financial Company LLC is offering uncapped accelerated barrier notes 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. The notes are designed to pay at maturity 1.74 times any positive return of the least performing index, with no upside cap.
If, at maturity, any index closes below its Barrier Amount of 70% of its initial level, principal is reduced one-for-one with the decline of the least performing index, potentially to zero; if all indices stay at or above their barriers, principal is returned. The notes pay no interest or dividends, are unsecured obligations subject to JPMorgan credit risk, have $1,000 minimum denominations, and are expected to mature on September 5, 2031$956.10 per $1,000, and will not be less than $900.00 per $1,000 when set, reflecting embedded costs and dealer compensation.
JPMorgan Chase Financial Company LLC is issuing $584,000 of Digital Barrier Notes linked to the least performing of the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Equal Weight Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are scheduled to price on July 30, 2026, settle on or about August 4, 2026, and mature on September 2, 2027, with a single observation date on August 30, 2027.
For each $1,000 note, investors receive a fixed 10.00% Contingent Digital Return (total payment $1,100) at maturity if the final level of each index is at least 60.00% of its Initial Value (the Barrier Amount). If any index finishes below its barrier, repayment is $1,000 plus the return of the least performing index on a one-for-one basis, so losses can exceed 40% of principal and reach 100%. The notes pay no interest, provide no principal protection, and are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The price to public is $1,000 per note, including a $5 selling commission; the bank’s estimated value is $992.60 per $1,000, and secondary market liquidity and pricing may be significantly less favorable to investors.
JPMorgan Chase Financial Company LLC is offering Uncapped Accelerated Barrier Notes due September 5, 2031, linked to the lesser performing of the Russell 2000 Index and the S&P 500 Index. The notes target an uncapped payoff of at least 1.49x any positive return of the lesser performing index at maturity, with a barrier set at 70% of its Initial Value.
If both indices finish at or above their respective barrier amounts, investors receive at least their $1,000 principal; if either finishes below its barrier, principal loss matches the decline of the lesser-performing index and can reach 100%. The notes pay no interest, provide no dividends, are unsecured obligations of JPMorgan Financial fully guaranteed by JPMorgan Chase & Co., and are subject to their credit risk. Minimum denomination is $1,000. If priced today, the estimated value would be $970.80 per $1,000, and at pricing it will not be less than $900.00 per $1,000. The notes will not be listed, so liquidity depends on dealer pricing. Tax treatment is expected to follow "open transaction" prepaid financial contract treatment, and the issuer currently expects Section 871(m) withholding not to apply.
JPMorgan Chase Financial Company LLC is issuing $2,144,000 of Auto Callable Contingent Interest Notes linked to the capital stock of International Business Machines Corporation (IBM), due August 3, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a Contingent Interest Rate of 14.00% per annum (3.50% per quarter), or $35.00 per $1,000 per quarter, only if on a Review Date the IBM share price is at or above the Interest Barrier of 51.65% of the Initial Value (based on an Initial Value of $221.74, the barrier equals $114.52871). Missed interest can be paid later if the barrier is met, but may be lost entirely.
The notes are auto callable on any Review Date other than the first and final, starting February 1, 2027, if IBM’s closing price is at least the Initial Value; investors then receive $1,000 plus due and unpaid contingent interest, with no further payments. At maturity, if not called, investors receive principal plus contingent interest only if the Final Value is at or above the Trigger Value (same level as the Interest Barrier). If the Final Value is below the Trigger Value, the payoff is $1,000 plus $1,000 × Stock Return, so investors lose 1% of principal for each 1% IBM has fallen and can lose all principal.
The price to the public is $1,000 per note, including total fees of $18.50 (selling commission and structuring fee), with estimated value of $962.90 per $1,000 at pricing. The notes are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., will not be listed, may have limited or no liquidity, and expose holders to issuer credit, market, reinvestment, tax and structural risks highlighted in extensive risk disclosures.