Every 424B that JPMorgan Chase & Co. (JPM) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow JPM and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full JPM filings page.
JPMorgan Chase Financial Company LLC is offering $550,000 of 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 12.05% per annum Contingent Interest Payment for each Review Date on which the Index closes at or above 70.00% of the Initial Value, but may pay no interest if the Index is below this barrier.
The notes may be automatically called on certain Review Dates starting July 22, 2027 if the Index is at or above the Initial Value, returning principal plus the applicable interest. If not called and at maturity the Index is below the 70.00% Buffer Threshold, principal is reduced 1% for each 1% decline beyond a 30.00% buffer, for a maximum loss of 70.00%. The underlying Index employs a volatility-targeting, leveraged rules-based strategy on the Invesco QQQ Fund, is subject to a 6.0% per annum daily deduction and a notional financing cost, and can use up to 500% exposure, all of which can significantly drag performance.
The notes are unsecured, unsubordinated obligations of JPMorgan Financial, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The price to public is $1,000 per note, including $6.50 in selling commissions; the issuer’s proceeds are $993.50 per note, and the initial estimated value is $937.00 per $1,000 note.
JPMorgan Chase Financial Company LLC is issuing $606,000 in Auto Callable Accelerated Barrier Notes linked to the EURO STOXX 50® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination, priced at $1,000 with proceeds to the issuer of $958.75 per note and an estimated fair value of $939.80.
The notes may be automatically called on July 28, 2027 if the Index is at or above the Call Value, paying $1,000 plus a $100 call premium. If not called, at maturity on July 25, 2031 investors receive an uncapped payoff of 1.51× any positive Index return; return of principal if the Final Value is at or above the Barrier Amount of 50% of the Initial Value; or a 1:1 loss of principal with Index declines below the barrier, up to total loss.
The notes pay no interest or dividends, are unsecured and unsubordinated, and expose holders to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. They are not listed, may have limited or no liquidity, and secondary prices are expected to be below issue price due in part to embedded selling, structuring and hedging costs.
JPMorgan Chase Financial Company LLC is offering $365,000 of Auto Callable Contingent Interest Notes linked to Vertiv Holdings Co Class A common stock, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Rate of 22.00% per annum (1.83333% per month) for each Review Date on which Vertiv’s share price is at or above the Interest Barrier, set at 50.00% of the Initial Value. If the barrier is met, any previously unpaid contingent coupons are also paid.
The notes may be automatically called on certain Review Dates (beginning January 22, 2027) if Vertiv’s share price is at or above the Initial Value, returning $1,000 per note plus due and unpaid contingent interest, with no further payments. If not called and the Final Value is at or above the Trigger Value (also 50.00% of Initial Value), investors receive full principal plus all due contingent interest at maturity on July 26, 2029. If the Final Value is below the Trigger Value, the redemption amount is $1,000 + ($1,000 × Stock Return), exposing investors to a 1:1 loss of principal with potential loss of the entire investment.
The minimum denomination is $1,000. The notes priced on July 22, 2026 and are expected to settle on or about July 27, 2026. Price to public is $1,000 per note, including $6.00 in selling commissions; net proceeds to the issuer are $994 per note. The estimated value at pricing was $967.40 per $1,000 note, reflecting selling, structuring and hedging costs. The notes are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., will not be listed on an exchange, and may have limited or no liquidity. Investors forgo dividends on Vertiv shares and may receive no interest if the stock remains below the Interest Barrier on all Review Dates.
JPMorgan Chase Financial Company LLC is offering uncapped Buffered Return Enhanced Notes due August 2, 2029, linked to the least performing of the Dow Jones Industrial Average, the Russell 2000 Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are issued in $1,000 minimum denominations and pay no interest or dividends.
At maturity, if all three indices finish at or above their initial levels, holders receive $1,000 plus at least 1.50× the gain of the least performing index. A 20.00% Buffer Amount protects principal against moderate declines across the indices; beyond this, investors lose 1% of principal for each 1% fall in the least performing index, up to a maximum 80.00% loss (receiving as little as $200 per $1,000 note). Payments depend on the credit of both JPMorgan Financial and JPMorgan Chase & Co. The indicative estimated value is $984.60 per $1,000 note, and will not be less than $900.00 when finalized, reflecting embedded selling, structuring and hedging costs. The notes are not listed, and secondary prices are expected to be below the issue price.
JPMorgan Chase Financial Company LLC is offering $2,070,000 of Auto Callable Contingent Interest Notes linked to the lesser performing of the Nasdaq-100® Technology Sector and the Russell 2000® Index, due January 27, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Rate of 9.10% per annum (0.75833% per month) for each Review Date on which the closing level of each Index is at or above 70.00% of its Initial Value (the Interest Barrier).
The notes are auto-callable on any Review Date from October 22, 2026 (excluding the first, second and final Review Dates) if each Index is at or above its Initial Value; in that case investors receive $1,000 plus the applicable contingent interest and no further payments. If not called, and at maturity each Index is at or above its Trigger Value (also 70.00% of Initial Value), investors receive principal plus the final contingent interest; otherwise the payoff is $1,000 × (1 + Lesser Performing Index Return), which can result in a substantial or total loss of principal.
The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. Price to public is $1,000 per note, with selling commissions of $22.25 and proceeds to issuer of $977.75 per note. The issuer’s estimated value at pricing was $961.10 per $1,000, reflecting internal funding rates, structuring and hedging costs, and dealer compensation. The notes will not be listed, may have limited liquidity, do not pay fixed interest or dividends, and offer no participation in Index appreciation.
JPMorgan Chase Financial Company LLC is offering Auto Callable Accelerated Barrier Notes linked to the S&P 500® Futures Excess Return Index, due August 2, 2033, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have $1,000 minimum denominations, pay no interest and are unsecured, unsubordinated obligations subject to the credit risk of both issuers.
The notes may be automatically called on August 3, 2027 if the Index is at or above a specified Call Value, paying $1,000 plus a Call Premium of at least $220 per note. If not called, at maturity investors receive an uncapped 2.00× leveraged upside on any Index appreciation; if the Final Value is between the Initial Value and the Barrier Amount of 70% of the Initial Value, principal is returned. If the Final Value falls below the Barrier Amount, repayment is reduced 1% for each 1% Index decline, potentially to zero.
If priced on the indicated date, the notes’ estimated value would be $969.50 per $1,000 note, and will not be less than $900.00 at issuance. Key risks include loss of principal, structural features tied to equity futures (including negative roll returns), lack of liquidity, and complex U.S. tax treatment, which special tax counsel expects to treat as open transactions.
JPMorgan Chase Financial Company LLC is offering $1,245,000 of Uncapped Accelerated Barrier Notes linked to the S&P 500 Futures Excess Return Index, maturing July 25, 2031 and fully guaranteed by JPMorgan Chase & Co. The notes provide 2.3325x leveraged upside at maturity on any positive index return, with no cap.
If the final index level is at or above 70% of the initial level, investors receive at least their $1,000 principal per note; if it falls below that barrier, principal is reduced 1% for each 1% index decline, up to total loss. The notes pay no interest, are unsecured, not FDIC insured, and expose holders to the credit risk of both the issuer and guarantor. The price to public is $1,000 per note, including $7.50 in fees, while the issuer’s estimated value is $975.60 per note, reflecting selling, structuring and hedging costs. The underlying index tracks rolling E‑mini S&P 500 futures and is subject to futures-specific risks such as volatility, negative roll returns and potential market disruptions, as well as complex U.S. tax treatment.
JPMorgan Chase Financial Company LLC is offering Capped Dual Directional Buffered Return Enhanced Notes linked to the S&P 500 Index, due August 3, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co. These unsecured notes provide 1.50x exposure to any positive Index return at maturity, subject to a Maximum Upside Return of at least 20.35%.
If the Index is flat or down by up to the 15.00% Buffer Amount, investors receive a positive, uncapped return equal to the absolute decline (up to 15%), so a 10% Index drop pays 10% ($1,100 per $1,000). If the Index falls by more than 15%, principal is reduced 1:1 beyond the buffer, up to a maximum loss of 85.00%, with the minimum payment of $150 per $1,000. The notes pay no interest or dividends and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.
The notes are issued in $1,000 minimum denominations. If priced on the date shown, the estimated value would be approximately $982.10 per $1,000, and when set it will not be less than $950.00, reflecting embedded selling commissions, hedging costs and issuer funding assumptions. Tax counsel views it as reasonable to treat the notes as prepaid financial contracts (open transactions) for U.S. federal income tax purposes, though the IRS could disagree.
JPMorgan Chase Financial Company LLC is issuing $556,000 of Uncapped Buffered Return Enhanced Notes linked to the S&P 500® Futures Excess Return Index, due July 25, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount.
At maturity, investors receive 2.025 times any positive Index return, with no upside cap. A 20.00% buffer protects principal against moderate declines, but if the Index falls by more than 20%, principal is reduced 1% for each additional 1% decline, up to an 80.00% loss (minimum payment $200 per $1,000). The notes pay no interest, are unsecured and unsubordinated, and their value depends on the credit of both JPMorgan Financial and JPMorgan Chase & Co.
The price to public is $1,000 per note, including $5 of fees, with net proceeds of $995 per note. The issuer’s estimated value is $970.20 per $1,000, reflecting embedded distribution, hedging costs and internal funding assumptions, and secondary market liquidity may be limited.
JPMorgan Chase Financial Company LLC is issuing $1,000,000 of Auto Callable Contingent Interest Notes linked to the common stock of Oracle Corporation, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a minimum denomination of $1,000 and price at 100% of principal, with selling fees of $17.50 per note and proceeds to the issuer of $982.50 per note. The estimated value at pricing is $949.00 per $1,000 note.
The notes pay a monthly Contingent Interest Rate of 23.75% per annum (1.97917% per month) only if Oracle’s share price on a Review Date is at or above the Interest Barrier set at 50% of the Strike Value. The notes are automatically called on certain Review Dates if the stock is at or above the Strike Value, with repayment of principal plus that period’s contingent interest; the earliest call date is October 20, 2026.
If not called, at maturity investors receive principal plus the final contingent interest if the Final Value is at or above the Trigger Value (also 50% of the Strike). If the Final Value is below the Trigger, repayment is $1,000 + ($1,000 × Stock Return), exposing investors to losses up to a total loss of principal. The notes are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., offer no dividends or equity rights in Oracle, may be illiquid, and can be accelerated upon certain delisting events.
JPMorgan Chase Financial Company LLC is offering Callable Fixed Rate Notes due February 6, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay fixed interest at an annual rate of 5.00%, calculated on a 30/360 day count basis and payable in arrears on August 6, 2027, August 6, 2028 and at maturity, subject to earlier redemption.
The issuer may, at its option, redeem the notes in whole (but not in part) on the 6th calendar day of February, May, August and November of each year from February 6, 2027 through November 6, 2028 at par plus accrued interest, subject to a following Business Day Convention and an unadjusted Interest Accrual Convention. The Original Issue Date is expected to be August 6, 2026, and the notes are offered in minimum denominations of $1,000 per note. The price to the public for certain institutional or fee-based accounts will be between $995.10 and $1,000 per $1,000 principal amount, with selling commissions that, if priced on the date described, would be approximately $1.25 and will not exceed $7.50 per $1,000 note.
JPMorgan Chase Financial Company LLC is offering structured notes, fully and unconditionally guaranteed by JPMorgan Chase & Co., linked to the least performing of the TOPIX Index, the MSCI Emerging Markets Index and the iShares Russell 2000 Value ETF, maturing on August 19, 2031. The notes have minimum denominations of $1,000, pay no interest and provide no dividends from the underlying index or ETF exposures.
The notes may be automatically called on any annual Review Date starting August 18, 2027 if each underlying is at or above its Call Value, paying $1,000 plus a Call Premium Amount of at least 18.30%, 36.60%, 54.90%, 73.20% or 91.50% of principal, depending on the year. If not called and any underlying finishes below its 80.00% Barrier Amount on the final Review Date, repayment is reduced dollar-for-dollar with the loss in the least performing underlying, and investors can lose up to 100% of principal. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not bank deposits and are not FDIC insured. An initial estimated value of about $960.10 per $1,000 note is disclosed, and the final estimated value will not be less than $930.00.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured structured notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing on August 12, 2032. The notes pay no interest and do not provide index upside beyond potential early call premiums.
The notes are automatically callable on 21 scheduled Review Dates starting August 11, 2027 if the Index closing level is at least 85.00% of the Initial Value. If called, investors receive $1,000 plus a Call Premium Amount starting at 16.60% of principal on the first Review Date and rising to 99.60% on the final Review Date.
If never called and the Final Value is at least the Barrier Amount of 50.00% of the Initial Value, investors receive principal back at maturity. If the Final Value is below the Barrier Amount, maturity payment equals $1,000 plus $1,000 times the Index Return, so losses exceed 50% and can reach 100% of principal.
The underlying Index dynamically allocates up to 500% exposure to E-mini S&P 500 futures, targets 35% implied volatility and is subject to a 6.0% per annum daily deduction, which drags performance relative to an identical index without such deduction. The notes’ estimated value on the date here is $924.30 per $1,000, and will not be less than $900.00 when finalized, reflecting structuring and hedging costs. Investors face the credit risk of both the issuer and guarantor and no listing is expected, limiting liquidity.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering structured Review Notes linked to the lesser performing of the Nasdaq-100® Technology Sector and the S&P 500® Index, maturing on August 19, 2031, in $1,000 minimum denominations.
On each of 17 Review Dates starting August 18, 2027, if the closing level of each Index is at or above 100% of its Initial Value (the Call Value), the notes are automatically called and pay $1,000 plus a Call Premium Amount, beginning at 10.55% of principal on the first Review Date and rising to at least 52.75% on the final Review Date. If never called and, on the final Review Date, the Final Value of each Index is at or above 90% of its Initial Value (the Barrier Amount), investors receive principal back at maturity.
If the notes are not called and the Final Value of either Index is below its Barrier Amount, the maturity payment is $1,000 plus $1,000 times the Lesser Performing Index Return, exposing investors to 1:1 downside below the Initial Value and potential total loss. The notes pay no interest, provide no dividend exposure, are unsecured obligations subject to JPMorgan credit risk, will not be listed, and have an estimated value initially below the $1,000 price (about $937.90 per note if priced on the example date).
JPMorgan Chase Financial Company LLC is offering structured notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co., with maturity on August 7, 2031. The notes may be automatically called on any annual Review Date starting August 9, 2027 if the Index closing level is at or above the Call Value, set at 100% of the Initial Value. In that case, investors receive $1,000 plus a Call Premium Amount per note, with minimum Call Premiums ranging from 28.85% on the first Review Date to on the final Review Date.
If the notes are not called and the Final Value is at or above the Barrier Amount of 60% of the Initial Value, investors receive full principal at maturity. If the Final Value is below the Barrier Amount, repayment is $1,000 + ($1,000 × Index Return), so principal loss exceeds 40% and could be total. The Index applies a 6.0% per annum daily deduction and uses a volatility-targeting, leveraged exposure of up to 500% to E-mini S&P 500 futures, which can amplify both gains and losses. The indicative estimated value is about $889.70 per $1,000 note, and will not be less than $870.00 when finalized, reflecting embedded costs and issuer pricing.
JPMorgan Chase Financial Company LLC is offering Auto Callable Accelerated Barrier Notes due August 4, 2031, linked to the least performing of the Dow Jones Industrial Average, Nasdaq-100 Index and Russell 2000 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes have a minimum denomination of $1,000, a potential automatic call on August 5, 2027 if each index is at or above its Call Value, and a Call Premium Amount of at least $300 per $1,000 if called. If not called and each index finishes above its Initial Value, investors receive an uncapped payoff of 1.50× the appreciation of the least performing index. If any index finishes at or below its Initial Value but at or above its 70% Barrier Amount, principal is returned at par.
If the notes are not called and the least performing index closes below its Barrier Amount, repayment is reduced 1% for each 1% decline in that index, down to a total loss of principal. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and are not FDIC insured. If priced today, the estimated value would be about $973.10 per $1,000, and will not be less than $900 per $1,000 at pricing.
JPMorgan Chase Financial Company LLC is offering Trigger Performance Leveraged Upside Principal at Risk Securities (“Trigger PLUS”) linked to the S&P 500® Value Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a $1,000 stated principal amount, issue price of $1,000 per note, and mature on August 5, 2032 after a valuation date of August 2, 2032.
At maturity, if the index is above its initial level, holders receive $1,000 plus 125.00% of the index percent increase, capped at a maximum payment of at least $1,903.50 per note. If the index is at or below the initial level but at or above the trigger level of 80% of the initial level, investors receive only the $1,000 principal. If the index closes below the trigger level, the payoff equals $1,000 times the index performance factor, resulting in losses greater than 20% and up to a complete loss of principal.
The notes pay no interest, will not be listed on any exchange, and are unsecured obligations subject to the credit risk of both the issuer and guarantor. Estimated value is approximately $943.40 per $1,000 today and will not be less than $920.00 per $1,000 on the pricing date, reflecting selling commissions, structuring fees and hedging costs.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes due July 3, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked to the lesser performing of the S&P 500 Index and the VanEck Semiconductor ETF and pay a Contingent Interest Payment on each Review Date only if the closing value of each underlying is at least 70% of its Initial Value (the Interest Barrier.
Beginning on January 28, 2027, the notes will be automatically called if, on a Review Date (excluding specified early and final dates), the closing value of each underlying is at least its Initial Value, in which case investors receive $1,000 plus the applicable contingent interest and no further payments. If not called, and on the final Review Date each underlying is at least 50% of its Initial Value (the Trigger Value), investors receive $1,000 plus any final contingent interest; otherwise, repayment of principal is reduced one-for-one with the decline of the lesser performing underlying, potentially to zero.
The notes have a minimum denomination of $1,000. A hypothetical contingent interest rate of 18.10% per annum (1.50833% per month) is illustrated, and the issuer estimates the value at approximately $956.90 per $1,000 note, not less than $930.00 at pricing. Investors face significant principal risk, the possibility of no interest, exposure to equity and semiconductor-sector volatility, liquidity risk, and the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.
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 70% of the Initial Value (the Interest Barrier). The notes are automatically called, starting August 2, 2027, if on certain Review Dates the Index closes at or above the Initial Value, in which case investors receive $1,000 per note plus the applicable interest and no further payments.
If not called, principal is protected only above the Buffer Threshold of 85% of the Initial Value. If the Final Value is below this level, repayment is reduced 1% for each 1% decline beyond the 15% buffer, with a maximum loss of 85% of principal. The indicative Contingent Interest Rate is at least 13.00% per annum, but interest may be zero for some or all Review Dates. The Index embeds a 6.0% per annum daily deduction and a daily notional financing cost, which drag on performance. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.; the estimated value would be about $964 per $1,000 if priced on the described date and will not be less than $900 per $1,000 at pricing.
JPMorgan Chase Financial Company LLC is offering Capped Buffered Enhanced Participation Equity Notes due 2028, linked to the S&P 500® Index and fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount, is issued at 100.00% of principal with no underwriting commission, and bears no interest. The notes mature on October 11, 2028, with the underlier’s performance measured from the trade date (on or about July 23, 2026) to the determination date on October 9, 2028.
At maturity, investors receive a cash payment based on the S&P 500’s return: gains are enhanced by an upside participation rate of 1.40 but capped at a maximum settlement amount expected between $1,266.14 and $1,313.04 per $1,000 note. A 12.50% buffer protects principal for index declines up to that amount; beyond this, losses are leveraged at about 1.1429% of principal for each additional 1% index decline, and investors can lose their entire investment. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not listed, have no redemption right, and are expected to have an initial estimated value between $982.70 and $992.70 per $1,000 note, reflecting structuring and hedging costs.
JPMorgan Chase Financial Company LLC is offering $1,131,000 of unsecured Auto Callable Contingent Interest Notes due July 24, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked, on a worst-of basis, to the Dow Jones Industrial Average®, the Russell 2000® Index and the S&P 500® Index.
Investors may receive a Contingent Interest Payment at a rate of 6.80% per annum (0.56667% per month) for each monthly Interest Review Date on which the closing level of each Index is at or above 70.00% of its Initial Value (the Interest Barrier. The notes are automatically called on any quarterly Autocall Review Date, starting July 21, 2027, if the closing level of each Index is at or above its Initial Value, paying $1,000 plus the applicable contingent interest and terminating further payments.
If the notes are not called, 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 (70.00% of Initial Value). If the Final Value of any Index is below its Trigger Value, repayment of principal is reduced by the full negative return of the Least Performing Index, resulting in loss of more than 30% and up to all principal. The price to public is $1,000 per note, including $25 in fees and commissions; the issuer’s estimated value is $936.10 per $1,000, reflecting embedded costs and internal funding assumptions.
JPMorgan Chase Financial Company LLC is offering Auto Callable Accelerated Barrier Notes due July 31, 2031, linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index, and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called on August 2, 2027 if each index is at or above its Call Value, paying $1,000 plus a Call Premium Amount of at least $180 per $1,000 note.
If not called, at maturity investors receive an uncapped leveraged upside of 2.00x any gain of the least performing index. If any index finishes at or below its initial level but all remain at or above a 70% Barrier Amount, principal is returned. If any index closes below its Barrier Amount, repayment is reduced 1% for each 1% decline of the least performing index, down to a total 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., will not be listed on an exchange, and have an indicative estimated value of about $946 per $1,000 at launch, not less than $900, reflecting embedded fees and hedging costs.
JPMorgan Financial is offering auto callable contingent interest notes due February 2, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Payment on each Review Date only if the closing level of each of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index is at or above 80.00% of its Initial Value, the Interest Barrier.
Beginning with the sixth Review Date, the notes are automatically called if each Index is at or above its Initial Value, returning $1,000 per note plus the applicable Contingent Interest Payment, with no further payments. If not called, and at maturity each Index is at or above its 80.00% Buffer Threshold, investors receive principal plus the final Contingent Interest Payment. If any Index finishes below its Buffer Threshold, repayment is reduced by the Index loss in excess of the 20.00% Buffer Amount, up to an 80.00% principal loss.
The Contingent Interest Rate will be at least 9.85% per annum. The minimum denomination is $1,000. The estimated value, if priced today, is $980.60 per $1,000 note and will not be less than $900.00 at pricing. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., offer no participation in index appreciation or dividends, may have limited liquidity, and involve complex U.S. tax treatment.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes due August 4, 2031, linked individually to the Russell 2000 Index, the S&P 500 Index and the VanEck Semiconductor ETF, and fully and unconditionally guaranteed by JPMorgan Chase & Co. Investors receive a monthly Contingent Interest Payment only if, on a Review Date, the closing value of each underlying is at least 65.00% of its Initial Value, the Interest Barrier. From July 30, 2027, the notes are automatically called if on a Review Date (other than the first through eleventh and final) each underlying is at or above its Initial Value, paying $1,000 plus the applicable contingent interest and then terminating.
If the notes are not called, principal repayment at maturity depends on the Least Performing Underlying. If its final value is at least its Trigger Value of 50.00% of Initial Value, investors receive $1,000 plus any final contingent interest. If its final value is below the Trigger Value, repayment is reduced dollar-for-dollar with the underlying’s loss, potentially down to zero. The indicative Contingent Interest Rate is at least 13.05% per annum, but the notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., offer no principal protection, may pay no interest, and are expected to have an estimated value below the $1,000 price to public.
JPMorgan Chase Financial Company LLC is offering $17,500,000 of Auto Callable Contingent Interest Notes linked separately to the iShares MSCI Emerging Markets ETF and the EURO STOXX 50 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes, issued in $1,000 denominations, pay a 13.00% per annum contingent coupon (3.25% per quarter) only if on a Review Date each underlying is at or above 70% of its Initial Value, with unpaid coupons catching up if conditions are later met. The notes may be automatically called quarterly from January 22, 2027 onward if each underlying is at or above its Initial Value, returning principal plus due and previously unpaid coupons. If not called, at maturity on July 25, 2030 investors receive par only if each underlying is at or above its Trigger Value of 65% of Initial Value; otherwise the payoff is reduced one-for-one with the decline of the lesser performer, down to a total loss. The price to public is $1,000 per note, with selling commissions of $3 and issuer proceeds of $997 per note; the initial estimated value is $974.50 per note, reflecting embedded costs and JPMorgan’s internal funding rate. The notes are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., are not bank deposits or FDIC insured, and are expected to settle on July 27, 2026.
JPMorgan Chase Financial Company LLC is offering structured Review Notes linked to the least performing of the Dow Jones Industrial Average, Nasdaq-100 Index and Russell 2000 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a term to August 2, 2029, minimum denominations of $1,000, no interest payments and no dividends.
The notes may be automatically called on quarterly Review Dates starting July 29, 2027 if each index is at or above its Call Value, set at 100% of its Initial Value. In that case, investors receive $1,000 plus a Call Premium Amount that increases over time, from at least 13% on the first Review Date up to at least 39% at the final Review Date.
If not called, principal is repaid at maturity only if the final level of each index is at or above its Barrier Amount, set at 70% of its Initial Value. If any index finishes below its Barrier Amount, repayment is reduced dollar-for-dollar with the decline of the Least Performing Index, and investors can lose more than 30% and up to all of principal. The estimated value, if priced today, is $954.20 per $1,000 note and will not be less than $900.00 when set, reflecting selling, structuring and hedging costs. Payments are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and the notes will not be listed, limiting liquidity.
JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes due August 2, 2029, linked to the common stock of Bristol-Myers Squibb Company and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent quarterly coupon only if on a Review Date the Bristol-Myers Squibb share price is at or above 70.00% of the Initial Value, referred to as the Interest Barrier; missed coupons can be paid later if the barrier is met.
The notes are auto callable: if on any non-final Review Date the share price is at or above the Initial Value, investors receive $1,000 principal plus that period’s coupon and any unpaid coupons, and the notes terminate. If not called, and at maturity the Final Value is at or above the Trigger Value (also 70.00% of the Initial Value in the hypotheticals), investors receive $1,000 plus the applicable coupon and any unpaid coupons. If the Final Value is below the Trigger Value, repayment is reduced by the full negative stock return, so investors can lose some or all principal.
The minimum denomination is $1,000. A representative contingent interest rate is 12.21% per annum (3.0525% per quarter), with total hypothetical coupons of up to $366.30 per $1,000 over 12 payments. If priced on the example date, the estimated value would be about $960 per $1,000 note, and at pricing it will not be less than $950, reflecting selling commissions, hedging costs and issuer funding assumptions. The notes are unsecured, not FDIC insured, will not be listed, and their value and payments are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes due August 9, 2029, 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 State Street® Energy Select Sector SPDR® ETF, with minimum denominations of $1,000.
Investors may receive a Contingent Interest Payment on each Review Date only if the closing value of each underlying is at or above its Interest Barrier of 70% of Initial Value; any missed interest is paid later if a future barrier is met. The notes are automatically called if, on any callable Review Date from February 4, 2027, each underlying is at or above its Initial Value, returning principal plus interest and any unpaid coupons. If not called, and on the final Review Date any underlying finishes below its Trigger Value of 60% of Initial Value, repayment of principal is reduced 1:1 with the decline of the least performing underlying, up to total loss. The indicative Contingent Interest Rate is at least 9.75% per annum and the indicative estimated value is about $952 per $1,000 note, not less than $900, reflecting embedded fees, hedging costs and dealer compensation. The notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., will not be listed, and may have limited or no secondary market liquidity.
JPMorgan Chase Financial Company LLC plans to issue Auto Callable Contingent Interest Notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co., with maturity on July 31, 2031 and minimum denominations of $1,000.
The notes pay a monthly Contingent Interest Payment only if the Index is at or above 70% of the Initial Value (Interest Barrier). The indicative Contingent Interest Rate is at least 14.55% per annum, or 1.2125% per month. The notes are automatically called quarterly if the Index is at or above its Initial Value, with the earliest potential call on January 28, 2027, returning $1,000 plus the applicable interest.
If not called, and the Final Value is at or above 60% of the Initial Value (Trigger Value), investors receive $1,000 plus any final contingent interest; if below the Trigger Value, repayment is reduced linearly with Index loss, down to zero, so principal is at risk. The Index employs up to 500% futures exposure, targets 35% implied volatility and is reduced by a 6.0% per annum daily deduction, which is a persistent drag on performance. The estimated value is about $896.50 per $1,000 note and will not be less than $880, reflecting embedded costs. Payments are unsecured and subject to the credit risk of both the issuer and guarantor, and the notes are expected to be illiquid and not listed on any exchange.
JPMorgan Chase Financial Company LLC is offering Medium-Term Notes, Series A, Digital Equity Notes due 2027 fully and unconditionally guaranteed by JPMorgan Chase & Co., linked to the Nasdaq-100 Index®. Each note has a $1,000 principal amount and pays no interest.
At maturity on July 23, 2027, if the final index level is at least 85.00% of the initial level of 29,155.18, holders receive a threshold settlement amount expected to be at least $1,103.20 per $1,000, capped at a cap level expected to be at least 110.32% of the initial level. If the index falls more than 15.00%, principal is lost on a leveraged basis at the buffer rate of approximately 1.1765% for each 1% decline beyond the 15% buffer, down to total loss. The estimated value is expected between $974.20 and $984.20 per $1,000, below par, reflecting selling, structuring and hedging costs. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not listed, have no redemption feature, and involve complex U.S. tax treatment as prepaid financial contracts.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes due July 27, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked to the least performing of three ETFs: SPDR S&P Regional Banking (KRE), SPDR S&P Biotech (XBI) and iShares Silver Trust (SLV).
Investors may receive a contingent interest rate of at least 11.15% per annum, paid quarterly, but only if on a Review Date the price of one share of each Fund is at or above its 50.00% Interest Barrier. Missed coupons can be paid later if barriers are met. The notes are automatically called if, on any Review Date other than the first and final, each Fund is at or above its Initial Value; investors then receive $1,000 plus due and unpaid contingent interest.
If the notes are not called and the Final Value of any Fund is below its 50.00% Trigger Value, repayment of principal is reduced one-for-one with the decline of the Least Performing Fund, and investors can lose more than 50.00% and up to all principal. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The indicative estimated value is about $960 per $1,000 note and will not be less than $940 at pricing.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering structured Auto Callable Notes linked to the J.P. Morgan Multi-Asset Index (ticker MAX) due August 3, 2033, in minimum denominations of $1,000. The notes may be automatically called quarterly starting in August 2027 if the Index is at or above the applicable Call Value, paying back principal plus a fixed Call Premium Amount for that Review Date; no further payments would then be made.
If not called, at maturity investors receive $1,000 plus an Additional Amount equal to $1,000 × Index Return × 100% Participation Rate, floored at zero, so principal is repaid but there is no protection against inflation or opportunity cost. The Index embeds a 1.00% per annum daily deduction and targets about 4% historical volatility via a rules-based allocation among equity, bond and commodity futures, with possible long and short positions. The notes pay no interest, are unsecured and unsubordinated, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. For U.S. tax purposes, they are expected to be treated as contingent payment debt instruments requiring accrual of original issue discount.
JPMorgan Chase Financial Company LLC is offering $5,070,000 Buffered Digital Notes linked to the lesser performing of the Russell 2000 Index and the S&P 500 Index, due August 26, 2027, and fully and unconditionally guaranteed by JPMorgan Chase & Co.
Each $1,000 note pays a fixed 8.50% Contingent Digital Return at maturity if the final level of each index is at or above its initial level, or down to 20.00% below. If either index falls by more than 20.00%, repayment is reduced 1% for each additional 1% decline in the lesser-performing index, with a maximum loss of 80.00% of principal.
The price to the public is $1,000 per note, including $5 in selling commissions, versus an estimated value of $989.30 based on JPMorgan’s internal funding rate and option pricing models. The notes pay no interest or dividends, are unsecured and unsubordinated, will not be listed, and expose investors to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., as well as complex tax and potential liquidity considerations.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering Digital Contingent Buffered Notes linked to the S&P 500 Index, each with a $1,000 principal amount, under a July 2026 pricing supplement to an existing shelf registration. At maturity on August 26, 2027, holders receive a fixed Contingent Digital Return of at least 8.23% (for a maximum payment of $1,082.30 per $1,000 note) if the S&P 500 ending level is at or above the strike, or down by no more than the 25.00% Contingent Buffer Amount. If the index declines by more than 25% from the strike, principal is exposed 1-for-1 to the full negative index return, and investors can lose their entire investment. An indicative estimated value is $986.30 per $1,000 note, and will not be less than $970.00 when finalized, reflecting selling commissions, hedging costs and issuer margins. The notes are unsecured obligations, not bank deposits, not FDIC insured, involve complex tax and liquidity risks, and are intended for investors who can hold to maturity and understand the structured payoff profile.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $505,000 of auto-callable Review Notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing July 27, 2032. The notes offer autocall premiums starting at 26.45% of principal on the first Review Date, rising to 158.70% on the final Review Date, if the Index is at or above 100% of its initial level.
The structure includes a Barrier Amount at 50% of the Initial Value of 4,179.28; if the Final Value is below this barrier and the notes were not called, repayment is $1,000 × (1 + Index Return), exposing investors to losses greater than 50% and potentially a full loss of principal. The Index embeds a 6.0% per annum daily deduction, which drags performance and causes it to trail a similar index without such a charge. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and have an estimated value at pricing of $919.60 per $1,000, below the $1,000 issue price due to selling, structuring and hedging costs.
JPMorgan Chase Financial Company LLC is issuing $2,131,000 of structured Review Notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called on scheduled Review Dates starting July 23, 2027 if the Index is at or above the Call Value (100% of the Initial Value), paying back $1,000 principal plus a call premium that steps up from 31% on the first Review Date to 186% on the final Review Date.
If not called, at maturity on July 26, 2032 investors receive principal back only if the Final Index Value is at or above the Barrier Amount of 50% of the Initial Value (6,895.975, vs. Initial Value 13,791.95). If the Final Value falls below the Barrier, repayment is $1,000 × (1 + Index Return), exposing investors to more than 50% principal loss and potentially a total loss. The Index embeds a 6.0% per annum daily deduction and a daily notional financing cost on QQQ exposure, which drags performance and causes the Index to trail an equivalent index without such deductions.
The notes pay no interest or dividends, are unsecured, unsubordinated obligations of JPMorgan Chase Financial, and carry the credit risk of both the issuer and JPMorgan Chase & Co. Price to public is $1,000 per note, with selling fees of about $8.94 and issuer proceeds of about $991.06 per note. The estimated value at pricing was $939.80, below issue price due to embedded costs and dealer compensation.
JPMorgan Chase Financial Company LLC is issuing $6,033,000 of auto callable contingent interest notes linked to the common stock of UnitedHealth Group Incorporated, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a maturity date of July 25, 2028 and minimum denominations of $1,000.
Investors may receive a Contingent Interest Payment on each Review Date if the share price is at or above the Interest Barrier, set at 65.00% of the Strike Value. The notes are automatically called, starting January 20, 2027, if the share price on a Review Date (other than the first and final) is at or above the Strike Value, returning $1,000 plus applicable contingent interest and any unpaid prior contingent interest.
If the notes are not called and the Final Value is at or above the Trigger Value (also 65.00% of the Strike Value), investors receive $1,000 plus applicable and unpaid contingent interest. If the Final Value is below the Trigger Value, repayment equals $1,000 plus $1,000 × Stock Return, so investors can lose a significant portion or all of principal. The Contingent Interest Rate is 11.00% per annum (2.75% per quarter), and the estimated value at pricing was $969.20 per $1,000 note, below the $1,000 price to public.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the lesser performance of Alphabet Class A and Oracle common stock, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and minimum denominations are $1,000 and integral multiples thereof. The notes are expected to price on or about July 23, 2026, settle on or about July 28, 2026, and mature on January 27, 2028, unless automatically called as early as October 22, 2026.
Investors may receive monthly Contingent Interest Payments only if, on a Review Date, the closing price of one share of each reference stock is at or above its Interest Barrier, set at 50.00% of its Strike Value. For Alphabet, the Strike Value is $342.09 with a barrier/trigger of $171.045; for Oracle, the Strike Value is $125.84 with a barrier/trigger of $62.92. The Contingent Interest Rate will be at least 19.85% per annum, paid monthly if conditions are met, with any unpaid coupons accruing for later payment if a future Review Date is satisfied.
The notes are automatically called if, on any Review Date other than the first, second and final, the closing price of one share of each reference stock is at or above its Strike Value, in which case investors receive $1,000 plus applicable contingent interest and accrued unpaid interest and no further payments. If the notes are not called and the Final Value of either stock is below its Trigger Value, the maturity payment is $1,000 plus $1,000 × Lesser Performing Stock Return, so investors can lose a significant portion or all of principal. The estimated value would be approximately $940 per $1,000 note if priced on the term sheet date and will not be less than $920 per $1,000 at pricing. The notes are unsecured, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not bank deposits, pay no fixed interest, and do not provide dividends or ownership rights in Alphabet or Oracle.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering structured notes linked to the MerQube US Tech+ Vol Advantage Index, which references an unfunded total-return exposure to the Invesco QQQ Trust with a daily 6.0% per annum index deduction and a notional financing cost.
The notes have a 7-year term (pricing on August 3, 2026 and maturing August 8, 2033) and are non-callable for the first 12 months, then subject to daily automatic call if the index is at or above 100% of its initial level. If called, investors receive $1,000 plus a call premium based on a Call Premium Rate of at least 20.80% per annum.
At maturity, if not previously called and the final index level is at or above 60% of the initial level (the Barrier Amount), investors receive principal back; if it is below the barrier, repayment is reduced one-for-one with the index decline, and investors can lose up to 100% of principal. The minimum denomination is $1,000, and the estimated value will be at least $900 per $1,000 note. Payments depend on the credit of JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering structured notes linked to the MerQube US Tech+ Vol Advantage Index, which references an unfunded total-return exposure to the Invesco QQQ Trust, Series 1. The Index targets a volatility level with exposure between 0% and 500% of the underlying asset and is reduced by a 6.0% per annum daily deduction, while QQQ performance is further reduced by a daily notional financing cost.
The notes have a 7-year term, with an initial 24‑month non‑call period and then daily review dates. If on any review date the Index level is at or above the Call Value of 100% of the Initial Value, the notes are automatically called at $1,000 plus a call premium based on a Call Premium Rate of at least 23.70%, ending further payments. If not called, at maturity in August 2033 investors receive principal if the final Index value is at or above the Barrier Amount of 60.00% of the Initial Value; otherwise, repayment is $1,000 plus $1,000 times the underlying return, exposing investors to losses greater than 40% and up to 100% of principal. An estimated value at issuance will be at least $910 per $1,000 note. Payments depend on the credit of both the issuer and guarantor, and the product involves multiple risks including leverage, volatility‑targeting mechanics, and limited liquidity.
JPMorgan Chase Financial Company LLC is offering $1,745,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have $1,000 minimum denominations, priced at $1,000 with selling commissions of $12.75 and issuer proceeds of $987.25 per note. The estimated value at pricing is $927.60 per $1,000 note.
The notes pay a contingent interest rate of 18.15% per annum (1.5125% monthly) only if, on each monthly Interest Review Date, the Index is at or above 70% of the Initial Value (the Interest Barrier). Quarterly, if on any Autocall Review Date the Index is at or above the Initial Value, the notes are automatically called and pay $1,000 plus that period’s contingent interest; no further payments occur. If not called, at maturity investors receive $1,000 plus the final contingent interest if the Index is at or above the Trigger Value of 60% of the Initial Value, or $1,000 plus $1,000 × Index Return if below the Trigger, exposing principal to full downside.
The underlying Index dynamically allocates leverage (0%–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 materially drags performance relative to a similar index without this charge. The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not bank deposits, and will not be listed; secondary liquidity, if any, depends on J.P. Morgan Securities LLC.
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 monthly Contingent Interest Payment only when the Index closing level is at least 70% of the Initial Value, and may be automatically called quarterly when the Index is at least the Initial Value, with the first possible call on January 28, 2027.
If not called and the Final Value is below the Trigger Value of 60% of the Initial Value, principal is reduced 1% for each 1% decline in the Index, down to zero. The Index embeds a 6.0% per annum daily deduction and can use up to 500% futures exposure while targeting 35% implied volatility, which can materially drag performance. The hypothetical Contingent Interest Rate is shown as 18.05% per annum (at least that level). The minimum denomination is $1,000. The estimated value is indicated at about $927.30 per $1,000 note, and will not be less than $900.00, reflecting embedded costs. Payments depend on the 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 $3,729,000 of unsecured Review Notes linked individually to the Dow Jones Industrial Average, the Russell 2000 Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called on scheduled Review Dates starting July 21, 2027 if each index is at or above its Call Value, paying $1,000 plus a Call Premium Amount that steps up from 10.15% to 50.75% of principal. If not called, principal is repaid at maturity on July 24, 2031 only if the Final Value of each index is at or above its Barrier Amount, set at 70% of its Initial Value. If any index finishes below its barrier, maturity payment is reduced by the full negative return of the Least Performing Index, exposing investors to loss of more than 30% and up to all principal. The notes pay no interest or dividends, have an estimated value of $940.20 per $1,000 at pricing, and are subject to the credit risk of both the issuer and guarantor.
JPMorgan Chase Financial Company LLC is issuing $1,230,000 of Auto Callable Contingent Interest Notes due January 26, 2028, linked to the least performing of the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent interest rate of 9.70% per annum, paid monthly (0.80833% per month), 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 period.
Starting with the October 21, 2026 Review Date, the notes are automatically callable if each index is at or above its Initial Value, in which case investors receive $1,000 plus the applicable contingent interest and no further payments. At maturity, if the notes have not been called and each index is at or above its Trigger Value of 60.00% of Initial Value, investors receive full principal plus any final interest. If any index finishes below its Trigger Value, the payoff is $1,000 plus $1,000 × Least Performing Index Return, so principal loss is one-for-one with the index decline and can reach 100%.
The notes are unsecured, unsubordinated obligations of JPMorgan Financial, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The price to public is $1,000 per note, including fees and commissions, while the estimated value is $979.50 per $1,000, reflecting structuring, selling and hedging costs. The notes are not listed, may have limited or no liquidity, and do not provide dividends from the underlying indices.
JPMorgan Chase Financial Company LLC is issuing $300,000 of Capped Dual Directional Buffered Equity Notes linked to the least performing of the Nasdaq‑100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, due August 26, 2027, fully guaranteed by JPMorgan Chase & Co.
The notes offer unleveraged exposure to index moves with a Maximum Upside Return of 8.80% and a 25.00% Buffer Amount. If the least performing index finishes above its initial level, the gain is paid up to the 8.80% cap. If it finishes up to 25% below, investors receive a positive return equal to the absolute decline, up to 25.00%. Below that, principal is reduced 1% for each additional 1% decline, for a maximum loss of 75.00% and a minimum maturity payment of $250 per $1,000 note.
The notes pay no interest or dividends, are unsecured and unsubordinated obligations of JPMorgan Financial, and any payment depends on the credit of both JPMorgan Financial and JPMorgan Chase & Co. The price to public is $1,000 per note, including $6.50 in selling commissions, with an estimated value of $985.00 per $1,000 at pricing. The notes will not be listed, and secondary market prices are expected to be below the issue price.
JPMorgan Chase Financial Company LLC is issuing $7,202,000 of Capped Dual Directional Buffered Equity Notes linked to the Nasdaq-100 Index®, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on July 26, 2028 and are issued in $1,000 minimum denominations.
At maturity, investors receive index-linked payoff only. For positive Index performance, returns are unleveraged and capped at a Maximum Upside Return of 27.60%. For Index declines of up to the 20.00% Buffer Amount, investors earn a positive return equal to the absolute decline, up to a maximum negative-return payoff of $1,200 per $1,000 note. If the Index falls by more than 20%, principal is reduced 1% for each additional 1% decline, with a minimum payoff of $200 per $1,000 note if the Index falls 100%.
The notes pay no interest or dividends and will not be listed, and any sale before maturity may occur at prices below the original issue price. The price to public is $1,000 per note, including $5 in selling commissions, while the issuer’s estimated value is $987.50 per note, reflecting internal funding and hedging costs. Repayment is subject to the unsecured credit risk of both JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is issuing $1,077,000 of callable contingent interest notes linked to the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent interest rate of 8.50% per annum (0.70833% per month) only if on each Review Date all three indices close at or above 70% of their Initial Value (the Interest Barriers). The notes may be redeemed early at the issuer’s option on certain Interest Payment Dates starting July 26, 2027; upon early redemption, investors receive $1,000 per note plus the applicable contingent interest and no further payments.
If the notes are held to maturity in July 2031 and have not been redeemed early, principal is fully repaid only if each index’s Final Value is at or above its Trigger Value of 65% of Initial Value. If any index finishes below its Trigger Value, repayment is reduced by the Least Performing Index Return, exposing investors to a loss of more than 35% and up to 100% of principal. The price to public is $1,000 per note, including $41.25 in fees and commissions; the issuer’s estimated value is $928.60 per note. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not bank deposits and are not FDIC insured.
JPMorgan Chase Financial Company LLC is offering $1,939,000 in Auto Callable Accelerated Barrier Notes linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes price at $1,000 per note, with selling fees of $8.1053 and issuer proceeds of $991.8947 per note; the initial estimated value is $971.60, below the issue price.
The notes may be automatically called on July 27, 2027 if each index is at or above its Call Value, paying principal plus a fixed Call Premium Amount of $298. If not called, at maturity investors receive 1.50 times any positive return of the least performing index, full principal back if all indices stay at or above a 70% barrier, or a 1:1 loss with the least performer below that barrier, up to total 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., may be illiquid, and are expected to trade below the issue price due to embedded costs and internal funding assumptions.
JPMorgan Chase Financial Company LLC is offering structured notes titled Uncapped Buffered Return Enhanced Notes linked to the S&P 500® Futures Excess Return Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The total offering is $4,100,000, in minimum denominations of $1,000 per note, with a price to the public of $1,000 and underwriting fees of $7.50 per note.
At maturity on July 25, 2030, investors receive 1.82 times any positive Index return, with no cap. If the Index is flat or down by up to the 20% Buffer Amount, principal is returned. If the Index falls by more than 20%, principal is reduced 1% for each additional 1% decline, up to an 80% loss and a minimum payment of $200 per $1,000 note. The notes pay no interest, are unsecured and unsubordinated obligations of JPMorgan Financial, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing was $981.10 per $1,000 note, reflecting selling commissions, hedging costs and issuer funding assumptions.
JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., is offering Auto Callable Dual Directional Contingent Buffered Return Enhanced Notes linked to the S&P 500® Index. Each note has a $1,000 principal amount, with minimum denominations of $10,000. The notes may be automatically called on August 4, 2027 if the Index closing level is at or above the Index Strike Level, paying $1,000 plus a call premium of at least 10.15%.
If not called and the Index appreciates, investors receive uncapped leveraged upside, with an Upside Leverage Factor of at least 1.50. If the Index ends down by up to the 20.00% Contingent Buffer Amount, investors receive a positive, unleveraged return equal to the Absolute Index Return, capped at $1,200 per $1,000 note for negative Index Returns. If the Ending Index Level is more than 20.00% below the Index Strike Level, principal is exposed 1-for-1 to further losses, up to a complete loss. 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; any secondary market will be limited. The indicative estimated value is about $981.40 per $1,000, and will not be less than $970.00 when finalized.