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 issuing $568,000 of unsecured Auto Callable Contingent Interest Notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on July 20, 2028 and are issued in $1,000 denominations.
Investors may receive a 12.95% per annum Contingent Interest Payment for each Review Date on which the Index closes at or above 70.00% of the Initial Value (the Interest Barrier). Starting January 19, 2027, the notes are automatically called if, on any applicable Review Date, the Index closes at or above the Initial Value, paying $1,000 plus the related interest and then terminating.
If the notes are not called and the Final Value is below the 70.00% Trigger Value, principal is reduced 1% for every 1% Index decline from the Initial Value, down to zero. The Index employs leverage up to 500% and is reduced by a 6.0% per annum daily deduction, which drags performance. The price to public is $1,000 per note, including $32.50 in fees, with issuer proceeds of $967.50; the estimated value at pricing was $925.90 per note. Payments are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and there is no assurance of any interest or principal protection.
JPMorgan Chase Financial Company LLC is issuing $1,320,000 of Callable Contingent Interest 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. The notes pay a 7.00% per annum Contingent Interest Payment on each Review Date only if the closing level of each index is at least 70.00% of its Initial Value. The issuer may redeem the notes early, in whole, on specified Interest Payment Dates beginning July 22, 2027.
If the notes are not redeemed and the Final Value of each index is at least 85.00% of its Initial Value, investors receive principal plus the final Contingent Interest Payment. If the Final Value of the lesser performing index is below its 85.00% Buffer Threshold, repayment is reduced by 1% for each 1% decline beyond the 15.00% buffer, up to an 85.00% loss of principal. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The price to public is $1,000 per note, including $37.50 in fees and commissions, versus an estimated value of $943.70 per note, and they are not listed on any securities exchange.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $1,041,000 of Auto Callable Contingent Interest Notes due July 20, 2029, linked individually to the Nasdaq-100® Technology Sector, the Russell 2000® Index and the State Street® Utilities Select Sector SPDR® ETF.
The notes pay a 9.65% per annum Contingent Interest only on Review Dates when the closing value of each underlying is at or above 70% of its Initial Value (the Interest Barrier. Automatic call can occur as early as January 19, 2027 if each underlying is at or above its Initial Value, returning $1,000 plus the applicable Contingent Interest; no further payments follow an automatic call.
If not called, principal at maturity depends on the Least Performing Underlying. If its Final Value is at or above 65% of its Initial Value (the Trigger Value), investors receive $1,000 plus any final Contingent Interest. If it is below the Trigger Value, repayment is $1,000 plus $1,000 times the Least Performing Underlying’s return, exposing investors to a significant or total loss of principal. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., offer no participation in upside of the underlyings, pay no dividends, are expected to have limited liquidity, and have an estimated value of $951 per $1,000 at pricing, below the issue price.
JPMorgan Chase Financial Company LLC is offering $1,191,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Large-Cap Vol Advantage Index, due July 22, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a 13.15% per annum contingent coupon (1.09583% monthly) only if, on a Review Date, the Index is at or above 70.00% of the Initial Value; missed coupons can be paid later if conditions are met. The notes are auto-called at par plus accrued coupon if, from the twelfth Review Date onward, the Index closes at or above the Initial Value, with the earliest call date on July 19, 2027.
If held to maturity without an automatic call, investors receive par plus applicable contingent interest if the Final Index Value is at or above the Trigger Value of 50.00% of the Initial Value; otherwise, repayment is reduced one-for-one with the Index decline, potentially to zero. The Index itself is a leveraged, volatility-targeted strategy on E-mini S&P 500 futures and is subject to a 6.0% per annum daily deduction, which drags performance. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and the estimated value at issuance is $930.30 per $1,000 note, below the $1,000 price to public.
JPMorgan Chase Financial Company LLC is issuing $712,000 of unsecured, unsubordinated Callable Contingent Interest Notes linked to the lesser performance of the Nasdaq-100® Technology Sector and the Russell 2000® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a 10.30% per annum Contingent Interest Rate (0.85833% per month) only for Review Dates when the closing level of each Index is at least 70.00% of its Initial Value, the Interest Barrier.
The issuer may redeem the notes early, in whole, on specified Interest Payment Dates starting October 22, 2026, paying $1,000 plus any due contingent interest. If not redeemed, and on the final Review Date each Index is at or above its 70.00% Trigger Value, investors receive $1,000 plus the final contingent interest; otherwise, maturity payment equals $1,000 plus $1,000 times the Lesser Performing Index Return, exposing investors to loss of principal up to 100%. The price to public is $1,000 per note, with selling commissions of $22.25 and proceeds to issuer of $977.75 per note; the estimated value at pricing is $957.10, reflecting embedded selling, structuring and hedging costs.
JPMorgan Chase Financial Company LLC is offering structured notes with an aggregate principal amount of $1,972,000, linked to the MerQube US Large-Cap Vol Advantage Index and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are automatically callable from July 21, 2027; if on any Review Date the Index closing level is at least 85.00% of its Initial Value (the Call Value), investors receive $1,000 plus a fixed Call Premium Amount and the notes terminate early.
If the notes are not called, at maturity on July 22, 2031 investors receive principal back only if the Final Value is at least the Barrier Amount, set at 60.00% of the Initial Value. If the Final Value is below the Barrier Amount, the payoff is $1,000 + ($1,000 × Index Return), so losses increase 1% for every 1% Index decline from the Initial Value and can reach a complete loss of principal.
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 drags performance and causes the Index to lag a similar index without such a fee. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and have an estimated value at pricing of $926.50 per $1,000 principal amount, lower than the $1,000 issue price due to selling, structuring and hedging costs.
JPMorgan Chase Financial Company LLC is offering $1,387,000 of Auto Callable Contingent Interest Notes due June 23, 2028, linked individually to the Nasdaq-100 Index, the Russell 2000 Index and the SPDR S&P Regional Banking ETF, and fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a 10.40% per annum Contingent Interest Rate (0.86667% monthly) only on Review Dates when the closing value of each underlying is at or above its Interest Barrier of 70% of its Initial Value. Starting January 19, 2027, the notes are automatically called if, on a non-excluded Review Date, each underlying is at or above its Initial Value, returning principal plus that period’s contingent interest.
If not called, at maturity investors receive principal only if the Final Value of every underlying is at or above its Trigger Value of 60% of Initial Value; otherwise the payoff is reduced in proportion to the decline of the worst-performing underlying, and investors can lose a substantial portion or all of principal. The initial price to public is $1,000 per note, including $22.25 in selling commissions, while the estimated value is $965.20 per $1,000. The notes are unsecured, subject to the credit risk of both the issuer and guarantor, are not FDIC insured and will not be listed, so liquidity may be limited.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $310,000 of Auto Callable Accelerated Barrier Notes linked to the lesser performing of the Nasdaq‑100 Index® and the S&P 500® Index, maturing on July 22, 2031.
The notes may be automatically called on July 23, 2027 if each index closes at or above its Call Value, in which case investors receive $1,000 plus a fixed Call Premium Amount of $168 per note and no further payments. If not called, at maturity investors receive: (i) uncapped upside of 1.54× the appreciation of the lesser performing index if both indices finish above their Initial Values; (ii) return of principal if either index is at or below its Initial Value but both remain at or above the Barrier Amount; or (iii) a loss of 1% of principal for every 1% decline in the lesser performing index if either finishes below its Barrier Amount, potentially losing all principal.
The notes pay no interest or dividends, are unsecured and unsubordinated, and expose holders to both market risk of the indices and the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The price to public is $1,000 per note, including selling commissions of $11.25, with an estimated value of $972.10 per note. The notes will not be listed, and secondary market prices are expected to be below the issue price.
JPMorgan Financial is offering auto callable contingent interest notes due August 2, 2029, 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 receive a Contingent Interest Payment on a Review Date only if each index closes at or above 70.00% of its Initial Value. Starting with the January 28, 2027 Review Date, the notes are automatically called if each index is at or above its Initial Value, paying $1,000 plus the applicable contingent interest.
If the notes are not called and on the final Review Date any index is below its Trigger Value of 70.00% of Initial Value, the maturity payment is reduced 1% for each 1% decline of the least performing index, down to a possible full loss of principal. The notes are unsecured obligations of JPMorgan Financial, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and pay no dividends on the underlying indices. The minimum denomination is $1,000, and the estimated value is approximately $946.10 per $1,000 principal amount, and will not be less than $900.00 per $1,000 when finalized.
JPMorgan Chase Financial Company LLC is offering $3,300,000 of Auto Callable Accelerated Barrier Notes linked to the lesser performing of the Dow Jones Industrial Average and the S&P 500 Index, due July 20, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes may be automatically called on July 23, 2027 if each index is at or above its Call Value, paying $1,000 plus a $103.50 Call Premium Amount per note. If not called and each index finishes above its Initial Value at maturity, holders receive $1,000 plus 1.50x the lesser-performing index’s gain. If either index finishes at or below its Initial Value but at or above a 70% Barrier Amount, principal is returned. If either index finishes below its Barrier Amount, repayment is reduced 1% for each 1% decline in the lesser-performing index, down to a total loss.
The notes pay no interest or dividends, are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., carry limited liquidity, and have an estimated value of $963.90 per $1,000 at pricing, below the issue price due to selling, structuring and hedging costs and dealer compensation.
JPMorgan Chase Financial Company LLC is offering $2,480,000 of Auto Callable Buffered Return Enhanced Notes linked to the lesser performing of the Russell 2000® Index and the S&P 500® Index, due July 20, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes may be automatically called on July 23, 2027 if each index is at or above its Call Value, paying $1,000 principal plus a $112.50 call premium per note. If not called and both final index levels exceed their initial values at maturity, holders receive an uncapped return of 1.25× the appreciation of the lesser performing index. A 20.00% Buffer Amount protects against moderate declines, but if either index falls by more than 20.00%, repayment is reduced 1% for each additional 1% decline, for a maximum loss of 80.00% of principal.
The price to the public is $1,000 per note, including $20.00 in selling commissions and a $6.50 structuring fee per $1,000, with issuer proceeds of $980 per note. The estimated value at pricing is $964.40 per $1,000 note. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., may be illiquid, and involve complex tax and market risks.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $504,000 of unsecured Structured Review Notes due July 20, 2029, linked individually to the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000®.
The notes may be automatically called on any of five Review Dates starting July 20, 2027 if each index is at or above its Call Value (100% of Initial Value), paying back principal plus a Call Premium from 16.50% to 49.50% of principal. If not called and each Final Value is at or above its Barrier Amount (70% of Initial Value), investors receive principal at maturity; otherwise payoff is reduced one-for-one with the Least Performing Index Return, and investors may lose more than 30% and up to all principal. The notes pay no interest or dividends, are not FDIC insured, and carry the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing was $972.10 per $1,000 note.
JPMorgan Chase Financial Company LLC is issuing $1,563,000 of Uncapped Accelerated Barrier Notes linked to the lesser performing of the EURO STOXX 50 Index and the STOXX Europe 600 Index, due July 21, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes offer an upside leverage factor of 2.39x on any positive performance of the lesser-performing index at maturity, without a cap. If either index finishes below 70% of its strike value, principal is exposed one-for-one to the decline of the lesser-performing index, and investors can lose up to all of their investment. The notes pay no interest, provide no dividends, are unsecured, and will not be listed, so liquidity depends on J.P. Morgan Securities making a market.
The price to public is $1,000 per note, including $6 in selling commissions, with issuer proceeds of $994 per note. The initial estimated value is $964.90 per note, reflecting embedded fees, structuring and hedging costs, and an internal funding rate. Returns are also subject to the credit risk of both the issuer and the guarantor, as well as index, currency, and regulatory change risks.
JPMorgan Financial is offering $1,225,000 of Capped Dual Directional Buffered Equity Notes linked to the lesser performing of the Dow Jones Industrial Average® and the Russell 2000® Index, maturing on January 22, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes provide unleveraged exposure to index moves: if the lesser-performing index rises, principal is increased one-for-one up to a Maximum Upside Return of 65.00%; if it falls by up to the 25.00% Buffer Amount, investors receive a positive return equal to the absolute decline. If the lesser-performing index falls by more than 25.00%, principal is reduced 1% for each additional 1% drop, for a potential maximum loss of 75.00% (minimum payment $250 per $1,000).
The notes pay no interest, pass through no dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not be listed, so liquidity may be limited. The price to public is $1,000 per note, including $5.50 in selling commissions, while the estimated value at pricing was $987.40 per note, reflecting embedded costs and internal funding and modeling assumptions.
JPMorgan Chase Financial Company LLC is issuing $41,477,000 in 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 Rate of 17.75% per annum, credited monthly only if on each Interest Review Date the Index closes at or above 70.00% of the Initial Value.
The notes are automatically called quarterly if the Index is at or above the Initial Value on an Autocall Review Date, starting January 19, 2027, returning $1,000 plus that period’s interest and ending further payments. If not called and the Final Value is below 50.00% of the Initial Value (the Trigger Value), principal is reduced 1% for each 1% Index decline, up to a total loss of principal.
The Index uses leveraged E-mini S&P 500 futures with a 35% target volatility and is subject to a 6.0% per annum daily deduction, which drags performance versus an equivalent index without a fee. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing was $925 per $1,000 note, below the $1,000 issue price due to selling, structuring and hedging costs.
JPMorgan Chase Financial Company LLC is offering auto callable accelerated barrier notes due August 1, 2028, 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 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 $240 per $1,000. If not called, at maturity investors receive: leveraged upside of 2.00x any gain of the least performing index; par if any index is at or below its initial level but each is at or above a 70% Barrier Amount; or a 1% loss of principal for each 1% decline in the least performing index below its Initial Value if any index finishes below its barrier.
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, and may have limited or no secondary market. The estimated value is about $987.30 per $1,000 if priced today and will not be less than $900, reflecting structuring, hedging and distribution costs.
JPMorgan Chase Financial Company LLC is offering $2,099,000 of structured Review Notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination, matures on July 22, 2032 and may be automatically called as early as January 19, 2027 if the Index closes at or above 100% of its Initial Value.
On an automatic call, investors receive $1,000 plus a fixed Call Premium that steps up from 14.60% to 175.20% of principal depending on the Review Date. If not called, principal is repaid at maturity only if the Final Index Value is at least 60.00% of the Initial Value (Barrier Amount 2,478.654); otherwise repayment is $1,000 + ($1,000 × Index Return), exposing investors to losses up to 100% of principal. The Index embeds a 6.0% per annum daily deduction and can employ leverage up to 500% to E-mini S&P 500 futures. The price to public is $1,000 per note, including $6.50 in selling commissions, while the estimated value at pricing was $940.20 per note.
JPMorgan Chase Financial Company LLC is offering $250,000 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 Contingent Interest Rate of 11.65% per annum (0.97083% per month) only on Review Dates when the Index closes at or above 80% of the Initial Value, the Interest Barrier; missed coupons can be paid later if the barrier is met on a subsequent Review Date. The notes are automatically called, starting July 19, 2027, if on certain Review Dates the Index is at least equal to the Initial Value, returning principal plus accrued contingent interest.
If the notes are not called and the Final Value is below the 85% Buffer Threshold, principal is reduced 1% for each 1% Index decline beyond the 15% Buffer Amount, for up to an 85% loss of principal. The underlying Index applies a 6.0% per annum daily deduction and a notional financing cost, and can use up to 500% leveraged exposure to the QQQ Fund, which may drag performance. The price to public is $1,000 per note, including $41.50 in fees and commissions, with issuer proceeds of $958.50 and an estimated value of $912.50 per note at pricing.
JPMorgan Chase Financial Company LLC is issuing $6,774,000 of Review Notes linked individually to the Dow Jones Industrial Average, the Nasdaq-100 Index and the Russell 2000 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co., and maturing on July 22, 2030.
The notes may be automatically called on any of seven Review Dates starting July 21, 2027 if each index is at or above its Call Value (100.00% of its Initial Value). In that case, investors receive $1,000 plus a fixed Call Premium Amount, ranging from 15.650% on the first Review Date to 62.600% on the final Review Date, and no further payments.
If not called and the Final Value of each index is at or above its Barrier Amount of 70.00% of its Initial Value, investors receive principal back at maturity. If any index finishes below its Barrier Amount, the maturity payment is $1,000 + ($1,000 × Least Performing Index Return), exposing investors to losses greater than 30% and up to 100% of principal. The price to public is $1,000 per note, including $7.50 in selling commissions, with proceeds to the issuer of $992.50 per note. The estimated value at pricing is $971.70 per $1,000 note, reflecting internal funding and hedging costs. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., may be illiquid, and carry complex tax and market risks.
JPMorgan Chase Financial Company LLC is offering $4,710,000 of Capped Dual Directional Accelerated Barrier 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 have a $1,000 minimum denomination, price at $1,000 per note with $6 in selling commissions and $994 in proceeds to the issuer per note, and are scheduled to mature on July 20, 2029.
At maturity, investors receive 2.00 times any positive return of the least performing index, capped at a Maximum Upside Return of 80.00%. If each index stays at or above 70.00% of its initial level, investors instead receive the absolute value of any decline in the least performing index, up to 30.00%. If any index finishes below its 70.00% Barrier Amount, principal is exposed 1:1 to the decline of the least performing index and investors can lose up to all of their investment.
The notes pay no interest or dividends, are unsecured and unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and will not be listed on an exchange. The estimated value at pricing was $977.00 per $1,000 note, lower than the issue price due to selling commissions, hedging costs and issuer funding assumptions.
JPMorgan Chase Financial Company LLC is offering $4,858,000 of Auto Callable Buffered Return Enhanced 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. The notes have a scheduled maturity on July 20, 2029 and may be automatically called on July 23, 2027 if each index closes at or above its Call Value, in which case holders receive $1,150 per $1,000 note and no further payments.
If not called and each index finishes above its initial level at maturity, investors receive an uncapped return equal to 1.25× the appreciation of the lesser performing index. A 20.00% buffer protects principal against moderate declines, but if either index falls by more than 20.00%, principal is reduced 1% for each additional 1% decline, up to a maximum loss of 80.00% of principal. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and have an estimated value at pricing of $984.10 per $1,000.
JPMorgan Chase Financial Company LLC is issuing $3,029,000 of Auto Callable Accelerated Barrier Notes linked to the S&P 500® Futures Excess Return Index, due July 22, 2032, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are unsecured, unsubordinated obligations with minimum denominations of $1,000.
The notes may be automatically called on July 23, 2027 if the Index is at or above the Call Value, paying $1,000 plus a fixed call premium of $204.50 per note, after which no further payments are made. If not called and held to maturity, investors receive an uncapped return of 2.00× any positive Index performance, return of principal if the Final Value is at or above 65.00% of the Initial Value (the Barrier Amount), and a 1:1 loss of principal for any decline below the Initial Value once the Barrier is breached, potentially losing the entire investment.
The notes pay no interest, are not bank deposits, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing was $978.80 per $1,000 note, reflecting structuring and hedging costs. The issuer does not expect any listing, so liquidity will depend on JPMS making a market, and secondary prices are expected to be below the issue price.
JPMorgan Chase Financial Company LLC is offering unsecured structured Review Notes due July 31, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co., linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index.
The notes may be automatically called on any Review Date from August 2, 2027 onward if each Index is at or above 100% of its Initial Value, paying $1,000 plus a call premium of at least 10.70% on the first Review Date, rising stepwise to at least 53.50% on the final Review Date. If not called, and each Final Value is at or above 70% of its Initial Value (the Barrier Amount), investors receive principal only at maturity.
If any Index finishes below its Barrier Amount and the notes have not been called, the maturity payment is $1,000 plus $1,000 times the Least Performing Index Return, creating 1-for-1 downside exposure and the possibility of total loss of principal. The notes pay no interest or dividends, are not FDIC insured, and will not be listed, so liquidity depends on J.P. Morgan Securities LLC. The estimated value is about $927.20 per $1,000 note (and will not be less than $900.00), reflecting selling commissions, hedging costs and JPMorgan’s internal funding rate.
JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated Uncapped Buffered Return Enhanced Notes linked to the iShares MSCI Emerging Markets ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on July 25, 2029 and are issued in minimum denominations of $1,000.
At maturity, investors receive an uncapped leveraged upside of at least 0.87× any positive fund return; if the fund falls by up to the 20% Buffer Amount, principal is repaid. Below that buffer, principal is reduced 1% for each additional 1% decline, for a maximum loss of 80%. The notes pay no interest or dividends and expose holders to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. An initial estimated value of about $970 per $1,000 note is indicated, with a minimum estimated value at pricing of $950.
JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes due July 26, 2028, linked to the common stock of Broadcom Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Payment on each quarterly Review Date only if Broadcom’s closing price is at least 50.00% of the Initial Value, the Interest Barrier. The indicated Contingent Interest Rate is at least 14.55% per annum, or at least 3.6375% per quarter, and any missed coupons can be paid later if the barrier is met.
The notes are auto-callable on any Review Date other than the first and final if Broadcom’s price is at or above the Initial Value, returning $1,000 principal per note plus the current and any unpaid Contingent Interest Payments; no further payments occur afterward. If not called, and the Final Value is at least the Trigger Value (also 50.00% of the Initial Value), investors receive $1,000 principal plus accrued and unpaid contingent interest. If the Final Value is below the Trigger Value, repayment equals $1,000 plus $1,000 times the stock return, exposing investors to losses greater than 50.00% and up to 100% of principal.
Minimum denomination is $1,000. Selling commissions are up to $17.50 and a structuring fee up to $1.00 per $1,000 note. The estimated value would be about $960.00 per $1,000 note if priced on the reference date and will not be less than $940.00 when set, reflecting embedded costs and issuer funding assumptions. Payments are unsecured obligations 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, fully guaranteed by JPMorgan Chase & Co., is offering Auto Callable Dual Directional Buffered Equity Notes linked to the lesser performing of the S&P 500 Index and the Nasdaq‑100 Index, maturing on July 27, 2028.
The notes may be automatically called on July 29, 2027 if each index is at or above its Call Value (100% of its Initial Value), paying $1,000 plus a Call Premium of at least $80 per $1,000 note. If not called, investors receive at maturity: full principal plus the Lesser Performing Index Return if both indices finish above their Initial Values; or principal plus the absolute return of the lesser performer if both indices are down by no more than the 29.50% Buffer Amount. In this negative‑return case, the maximum payment is $1,295 per $1,000 note.
If either index falls by more than 29.50%, maturity payment is reduced dollar‑for‑dollar beyond the buffer, with a minimum of $295 per $1,000 note, so investors can lose up to 70.50% of principal. The notes pay no interest or dividends and carry the credit risk of JPMorgan Financial and JPMorgan Chase & Co. An indicative estimated value is $987 per $1,000 note, with a final estimated value not less than $900.
JPMorgan Chase Financial Company LLC is offering callable contingent interest notes in $1,000 denominations linked to the least-performing of NIO ADSs, SoFi Technologies common stock and NIKE Class B common stock, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a contingent interest rate of at least 27.45% per annum, or at least 2.2875% per month, but only for Review Dates when each reference stock closes at or above its Interest Barrier, set at 50% of its Initial Value. Missed coupons can be paid later if the barrier is met; if not, investors may receive no interest over the term.
The issuer may redeem the notes early, in whole, on specified Interest Payment Dates starting October 29, 2026. If held to the July 27, 2028 maturity and no stock finishes below its 50% Trigger Value, investors receive principal plus the final and any unpaid contingent interest. If any stock finishes below its Trigger Value, repayment is reduced by the Least Performing Stock Return, exposing holders to losses of more than 50% and up to a total loss of principal. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and the estimated value at pricing is expected to be below the $1,000 issue price.
JPMorgan Chase Financial Company LLC is offering Barrier Market Linked Notes linked to the SPDR® Gold Trust, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each Note has a $1,000 principal amount, no periodic interest and an expected term of approximately 2 years, from July 31, 2026 to August 2, 2028.
If a Barrier Event occurs, meaning the SPDR® Gold Trust’s closing price exceeds an Upper Barrier set between 42.00% and 45.00% above the Initial Value on any day in the observation period, investors receive principal plus a Conditional Return of 8.00% at maturity. If no Barrier Event occurs and the Underlying Return is positive, repayment equals principal plus the Underlying Return; if no Barrier Event occurs and the Underlying Return is zero or negative, only principal is repaid. Because the Upper Barrier caps upside, the maximum payment at maturity is between $1,420.00 and $1,450.00 per $1,000 Note.
The price to public is $1,000 per Note, including up to $20.00 in selling commissions, for issuer proceeds of $980.00 per Note. The estimated value is about $970.00 per Note if priced on the reference date and will not be less than $940.00 when finalized. The Notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., will not be listed on an exchange, may be treated as contingent payment debt instruments for U.S. tax purposes and are intended for investors who can hold to maturity and understand the product and its risks.
JPMorgan Chase Financial Company LLC is offering capped structured notes linked to the lesser performing of the S&P 500 Index and the Nasdaq-100 Index, due January 27, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co.
Each note has a $1,000 principal amount, a 100% participation rate in the positive return of the lesser performing index and a per $1,000 at maturity, corresponding to a hypothetical 17.80% cap. If either index finishes at or below its initial level, the payoff is $1,000 plus $1,000 times the lesser performing index return, but not less than $950 per $1,000, so investors can lose up to 5% of principal, subject to issuer and guarantor credit risk.
The notes pay no interest and provide no dividends from index constituents. They are unsecured, unsubordinated obligations, not bank deposits and not FDIC insured. Indicatively, if priced on the described date, the estimated value would be about $989 per $1,000, and will not be less than $900 per $1,000 when set, reflecting embedded costs, hedging and dealer compensation.
JPMorgan Chase Financial Company LLC is offering Structured Investments Review Notes due July 29, 2031, linked to the MerQube US Tech+ Vol Advantage Index and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are issued in $1,000 minimum denominations and pay no interest or dividends.
The notes may be automatically called as early as July 28, 2027 if, on a Review Date, the Index closes at or above the Call Value, paying $1,000 plus a Call Premium Amount that starts at 18% of principal and increases over 49 Review Dates up to 90% of principal on the final Review Date. If not called, at maturity investors receive full principal if the Index has fallen by no more than the 15% Buffer Amount, and otherwise lose 1% of principal for each 1% Index decline beyond that buffer, for a maximum loss of 85% of principal.
The Index dynamically targets 35% volatility with up to 500% leveraged exposure to an unfunded position in the Invesco QQQ Fund, is reduced by a 6.0% per annum daily deduction and a notional financing cost based on SOFR plus 0.50%, and is expected to trail an identical index without these charges. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The indicative estimated value is approximately $909 per $1,000 note, and will not be less than $900 per $1,000 at pricing. They will not be listed, and secondary liquidity and pricing are uncertain.
JPMorgan Chase Financial Company LLC plans to issue market-linked notes due July 26, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each security has a $1,000 principal amount and is linked to the lowest performing of Datadog Class A, Affirm Class A and Amazon.com common stock.
The notes pay a monthly contingent coupon at a rate of at least 24.40% per annum only if, on the relevant calculation day, the lowest performing stock closes at or above its threshold price, set at 45% of its starting price. Missed coupons have a memory feature and are paid later if the condition is met. From January 2027 to June 2029, if the lowest performing stock is at or above its starting price on any calculation day, the notes are automatically called for par plus the applicable coupons.
If not called, principal is protected at maturity only if the lowest performing stock’s final price is at or above its threshold; otherwise, investors are fully exposed to that stock’s downside and can lose more than 55% up to all of principal. The securities are unsecured, not FDIC insured, have no exchange listing, and any payment depends on the credit of the issuer and guarantor.
JPMorgan Chase Financial Company LLC is issuing $1,200,000 of Auto Callable Dual Directional Barrier Notes linked to the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are unsecured, unsubordinated obligations in minimum denominations of $1,000.
The notes may be automatically called on July 19, 2027 if the S&P 500 closing level is at or above the Call Value (100.00% of the Strike Value). In that case, investors receive $1,105.50 per $1,000 note ($1,000 plus a Call Premium Amount of $105.50) on July 22, 2027, and no further payments.
If not called, at maturity on January 21, 2028 investors receive: (i) $1,000 plus the Index Return if the Final Value exceeds the Strike Value of 7,572.40; (ii) $1,000 plus the Absolute Index Return if the Final Value is between 80.00% and 100.00% of the Strike Value, capped at a 20.00% gain; or (iii) $1,000 plus the Index Return if the Final Value is below the Barrier Amount of 80.00% of the Strike Value, leading to losses greater than 20% and potentially a full loss of principal.
The price to public is $1,000 per note, including selling commissions of $3.50 per $1,000 and proceeds to the issuer of $996.50 per note. The issuer’s estimated value is $984.70 per $1,000 note, reflecting internal funding and hedging costs. The notes pay no interest or dividends, are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., may be illiquid, and can result in significant or total principal loss.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $500,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing July 21, 2031, in $1,000 denominations. The notes pay a 16.75% per annum contingent interest rate (8.375% semiannually) only on Review Dates when the Index closes at or above the Interest Barrier of 70.00% of the Initial Value; otherwise no interest is paid.
The notes are auto-callable on any Review Date from July 16, 2027 (excluding the first and final Review Dates) if the Index is at or above 90.00% of the Initial Value, returning $1,000 plus the applicable interest and ending the investment. If held to maturity and not called, principal is protected only if the Final Value is at or above the Trigger Value of 50.00% of the Initial Value. If the Final Value is below the Trigger Value, the repayment is $1,000 + ($1,000 × Index Return), meaning losses exceed 50% and can reach 100% of principal.
The Index itself includes a 6.0% per annum daily deduction and can use leverage up to 500% in E-mini S&P 500 futures, which may significantly drag performance and increase volatility. The price to public is $1,000 per note, including $7.50 in selling commissions, while the issuer’s estimated value is $927.60, reflecting embedded costs and internal funding assumptions. Payments are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is issuing $52,840,000 of Enhanced Participation Basket-Linked Notes due January 20, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and does not pay interest.
The notes are linked to an unequally weighted equity index basket: EURO STOXX 50 (40%), TOPIX (25%), FTSE 100 (17%), Swiss Market Index (11%) and S&P/ASX 200 (7%). The initial basket level is 100; the final basket level is computed from each index’s performance times its initial weight. At maturity, investors receive $1,000 plus the basket return when negative, and $1,000 plus 1.476× the basket return when positive, exposing them to full downside and leveraged upside. If the basket falls to zero, the payment is zero and investors lose their entire investment.
The original issue price is 100.00% of principal, including a 1.51% selling commission, with net proceeds of 98.49% to the issuer. The estimated value at pricing is $981.60 per $1,000, reflecting structuring, hedging and distribution costs. 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 may trade at prices below par in a limited secondary market.
JPMorgan Chase Financial Company LLC is offering callable contingent interest notes due July 26, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Payment for each monthly Review Date on which the closing level of each of the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index is at least 75% of its Initial Value (the Interest Barrier). The Contingent Interest Rate will be at least 12.65% per annum, paid monthly.
The issuer may redeem the notes early, in whole, on specified Interest Payment Dates starting July 28, 2027, paying $1,000 plus any due Contingent Interest, after which no further payments are made. If the notes are not redeemed early, repayment of principal at maturity depends on the Least Performing Index. If the Final Value of every Index is at least 70% of its Initial Value (the Trigger Value), investors receive $1,000 plus any final Contingent Interest. If any Index finishes below its Trigger Value, the maturity payment is $1,000 plus $1,000 times the Least Performing Index Return, so investors can lose a significant portion or all of principal. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.; they are not bank deposits and not FDIC insured. The estimated value is indicated as approximately $971 per $1,000 today and will not be less than $900 per $1,000 when set, reflecting embedded costs and internal funding assumptions.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $1,540,000 Auto Callable Contingent Interest Notes linked to the VanEck Semiconductor ETF, due April 19, 2029. The notes pay a 10.75% per annum contingent coupon (0.89583% monthly) when the ETF’s closing price on a Review Date is at or above the Interest Barrier of 80% of the Initial Value.
The notes may be automatically called on any Review Date from January 19, 2027 (other than the first five and final dates) if the ETF is at or above 95% of the Initial Value, paying $1,000 plus current and any unpaid contingent interest. If not called and the Final Value is at or above the 80% Buffer Threshold, investors receive principal plus the final and any unpaid contingent interest.
If the notes are not called and the Final Value is below the Buffer Threshold, repayment is reduced by the ETF’s decline beyond the 20% Buffer Amount, up to an 80% loss of principal. The price to public is $1,000 per note, including $30 in selling commissions, with an estimated value of $942.70 per $1,000 at pricing. Payments are unsecured and subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering $5,475,000 of Uncapped Accelerated Barrier Notes linked to an unequally weighted equity index basket, fully and unconditionally guaranteed by JPMorgan Chase & Co. The basket weights are 40% S&P 500, 30% Russell 2000, 20% EURO STOXX 50 and 10% MSCI Emerging Markets.
The notes mature on July 21, 2031, pay no interest and provide 1.20x leveraged upside if the final basket value exceeds the initial value of 100. If the final basket value is at or above the Barrier Amount of 65% of the initial basket value, principal is repaid at par. If it is below the barrier, repayment is reduced one‑for‑one with the basket loss, up to a total loss of principal.
The price to the public is $1,000 per note, including $5 in selling commissions, for issuer proceeds of $995 per note. The estimated value at pricing was $982.70 per $1,000, reflecting internal funding rates, hedging costs and fees. The notes are unsecured, not FDIC insured, may be accelerated upon certain regulatory events, and may have limited or no secondary market liquidity. U.S. tax counsel views them as prepaid financial contracts treated as open transactions, subject to evolving IRS guidance.
JPMorgan Financial is offering auto callable contingent interest notes due July 29, 2031, linked to the MerQube US Tech+ Vol Advantage Index and fully guaranteed by JPMorgan Chase & Co. The notes target monthly Contingent Interest Payments at a rate of at least 7.85% per annum (0.65417% per month) whenever the Index closes at or above 70% of its Initial Value (the Interest Barrier) on a Review Date, with missed coupons paid later if the barrier is subsequently met.
The notes may be automatically called on certain Review Dates starting July 26, 2027 if the Index is at or above its Initial Value, returning $1,000 plus applicable interest and ending further payments. If not called, principal is protected only above a 70% Buffer Threshold; below that level at maturity, investors lose 1% of principal for each 1% Index decline beyond a 30% Buffer Amount, up to a 70% loss.
The underlying Index employs up to 500% leveraged exposure to the Invesco QQQ Fund with a 35% target volatility, and is reduced by a 6.0% per annum daily deduction plus a notional financing cost (SOFR + 0.50% per annum), which can materially drag performance. The minimum denomination is $1,000; the notes are unsecured, not FDIC-insured, not exchange-listed and carry the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The indicative estimated value is about $915.10 per $1,000, and will not be less than $900 when finalized.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes due July 26, 2029, linked to the MerQube US Large-Cap Vol Advantage Index and fully guaranteed by JPMorgan Chase & Co. Each note has a $1,000 issue price and minimum denomination of $1,000.
Investors may receive a Contingent Interest Payment for each Review Date on which the Index closes at or above 70.00% of the Initial Value (the Interest Barrier). The notes may be automatically called as early as January 25, 2027 if, on specified Review Dates, the Index closes at or above the Initial Value, in which case investors receive $1,000 plus the applicable Contingent Interest Payment and no further payments.
If the notes are not called and the Final Value is at least the Trigger Value of 60.00% of the Initial Value, investors receive $1,000 plus any final Contingent Interest Payment. If the Final Value is below the Trigger Value, repayment is $1,000 + ($1,000 × Index Return), so principal losses can exceed 40% and extend to a total loss. The indicative Contingent Interest Rate will be at least 13.00% per annum, but interest is not guaranteed.
The Index employs a leveraged, rules-based strategy on E-mini S&P 500 futures, targets 35% implied volatility with exposure up to 500%, and is reduced by a 6.0% per annum daily deduction, which acts as a drag on performance. If priced today, the estimated value would be about $919.40 per $1,000 note, and will not be less than $900.00 at pricing. Payments are unsecured and subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and the notes will not be listed, which may limit liquidity.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering Callable Range Accrual Notes linked to the 10-Year CMT Rate and due July 27, 2038. The notes pay a fixed 10.00% per annum during the initial interest periods ending before July 27, 2027.
After that, monthly interest ranges from 0.00% to 10.00% per annum and depends on how many days in each period the 10-Year CMT Rate is at or below 5.00%; if it is above 5.00% every day, interest for that period is 0%. The issuer may redeem the notes in whole at par plus accrued interest on the 27th day of each month, from July 27, 2027 through maturity.
Per $1,000 principal amount, selling commissions would be approximately $40.00 (not exceeding $50.00), and the estimated value would be approximately $917.00, and will not be less than $900.00. Investors face issuer and guarantor credit risk, interest rate path risk, call risk, and potentially limited or no interest in some periods.
JPMorgan Chase Financial Company LLC is offering $250,000 of Digital Barrier Notes linked to the common stock of Micron Technology, Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a maturity date of August 19, 2027 and minimum denominations of $1,000.
At maturity, if the Final Value of Micron stock is at least the Barrier Amount of 50.00% of the Initial Value, investors receive a fixed Contingent Digital Return of 40.65%, or $1,406.50 per $1,000 note. If the Final Value is below the Barrier Amount, repayment is linear with the stock return, so investors lose 1% of principal for every 1% decline from the Initial Value and can lose their entire investment.
The Initial Value is the $853.20 closing price of one share of Micron on July 16, 2026. The price to public is $1,000 per note, including $7.50 in selling commissions, for issuer proceeds of $992.50 per $1,000 note. The estimated value is $969.20 per $1,000 note, reflecting internal funding and hedging costs. The notes pay no interest, provide no dividends or stockholder rights, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., may be accelerated upon certain delisting events, and are expected to have limited liquidity and potentially lower secondary market prices.
JPMorgan Chase Financial Company LLC is offering $670,000 of unsecured Callable Contingent Interest Notes linked to the Class A common stock of Robinhood Markets, Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a June 22, 2028 maturity and $1,000 minimum denominations.
The notes pay a 27.00% per annum Contingent Interest Rate (2.25% per month), or $22.50 per $1,000 per Review Date, only if Robinhood’s share price on that date is at or above the Interest Barrier of 50.00% of the Initial Value. The issuer may redeem the notes early on specified Interest Payment Dates starting October 21, 2026, paying $1,000 plus any applicable Contingent Interest Payment.
If the notes are not redeemed early and the Final Value is at least the Trigger Value (also 50.00% 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 $1,000 + ($1,000 × Stock Return), exposing investors to losses greater than 50% and potentially a complete loss of principal. The estimated value at pricing is $959.10 per $1,000 note, below the $1,000 issue price, reflecting selling commissions and hedging and structuring costs, and any 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 linked to the ordinary shares of GlobalFoundries Inc. (GFS), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have minimum denominations of $1,000, are expected to price on or about July 20, 2026 and settle on or about July 23, 2026, and mature on July 20, 2029.
The notes pay a contingent interest rate of at least 23.80% per annum (at least 5.95% per quarter), but only for Review Dates when the GFS share price is at or above the Interest Barrier, set at 50.00% of the Strike Value. The Strike Value is $57.48, so the Interest Barrier and Trigger Value are $28.74. Missed interest can be paid later if the barrier is met on a subsequent Review Date. The notes are automatically called, with return of principal plus applicable interest, if on any non-initial, non-final Review Date the share price is at or above the Strike Value; the earliest possible call date is January 19, 2027. If the notes are not called and the Final Value is below the Trigger Value, the maturity payment is reduced one-for-one with the stock decline, using $1,000 + ($1,000 × Stock Return), and investors may lose more than 50% and up to all of principal. The notes are unsecured, not FDIC insured, depend on the credit of JPMorgan Financial and JPMorgan Chase & Co., will not be listed, and may have limited or no secondary market liquidity.
JPMorgan Chase Financial Company LLC is issuing $8,678,000 of Auto Callable Contingent Interest Notes due June 22, 2028, linked to the least performing of three ETFs: VanEck Semiconductor (SMH), iShares Expanded Tech-Software (IGV) and SPDR S&P Regional Banking (KRE). The notes pay a Contingent Interest Rate of 21.50% per annum (about 1.79167% monthly, or $17.9167 per $1,000) only if on a Review Date each ETF closes at or above 60% of its Initial Value; otherwise no interest is paid for that period.
The notes are automatically called, starting October 16, 2026, if on a Review Date (other than the first, second and final) each ETF is at or above its Initial Value, returning $1,000 plus the applicable contingent interest. If not called and, at maturity, any ETF is below 50% of its Initial Value (its Trigger Value), repayment of principal is reduced 1:1 with the decline of the least performing ETF, and investors can lose more than half or all of principal. The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., and carry the issuer’s and guarantor’s credit risk. The price to public is $1,000 per note, with an estimated value of $975.40 per $1,000 at pricing.
JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes linked to Microsoft common stock, due July 27, 2028, at $1,000 per note in minimum denominations of $1,000. The notes pay a Contingent Interest Payment on each Review Date only if Microsoft’s closing price is at or above 60.00% of the Initial Value, the Interest Barrier. Missed interest can be made up later if a subsequent Review Date meets the Interest Barrier.
The notes are automatically called if, on any Review Date other than the first and final, Microsoft’s price is at or above the Initial Value; the earliest call date is January 25, 2027. If not called, and the Final Value is at or above the Trigger Value (also 60.00% of Initial Value in the examples), investors receive principal plus applicable and unpaid contingent interest; otherwise, payoff is $1,000 + ($1,000 × Stock Return), exposing holders to significant loss of principal. A hypothetical Contingent Interest Rate of 10.00% per annum (at least this minimum) would pay $25.00 per quarter per $1,000 when conditions are met. The estimated value would be about $970.00 per $1,000 if priced on the described date and will not be less than $950.00, reflecting selling commissions of up to $17.50 and a structuring fee of up to $1.00 per $1,000. Payments depend on the credit of JPMorgan Financial and its guarantor, JPMorgan Chase & Co., and the notes will not be listed, so liquidity may be limited.
JPMorgan Chase Financial Company LLC is offering $112,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Tech+ Vol Advantage Index, due June 22, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a monthly 9.25% per annum Contingent Interest Payment of $7.7083 per $1,000 when, on a Review Date, the Index is at or above the 85.00% Interest Barrier, with unpaid interest amounts catching up on later qualifying dates.
The notes are automatically called from the sixth Review Date onward if the Index is at or above 95.00% of the Initial Value, returning principal plus due and unpaid contingent interest. If held to maturity and the Final Value is below the 85.00% Buffer Threshold, principal is reduced 1% for each 1% Index loss beyond the 15.00% Buffer Amount, exposing investors to up to 85.00% loss of principal. The Index embeds a 6.0% per annum daily deduction and a daily notional financing cost, which drag performance relative to an undeducted index. The notes are unsecured, unsubordinated obligations, not listed on any exchange, with an estimated value of $926.20 per $1,000 at pricing, below the $1,000 issue price.
JPMorgan Chase Financial Company LLC is offering $4,615,000 of Buffered Digital Dual Directional Notes linked to the Russell 2000® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a Pricing Date of July 16, 2026, are expected to settle on or about July 21, 2026, and mature on July 21, 2028, with minimum denominations of $1,000.
At maturity, if the Index’s Final Value is greater than or equal to the Initial Value of 2,974.567, investors receive principal plus a fixed 24.10% Contingent Digital Return ($1,241 per $1,000 note). If the Index declines by up to the 15.00% Buffer Amount, investors receive a positive return equal to the Absolute Index Return, capped at $1,150 per $1,000 note. If the Index falls by more than 15%, principal is reduced by 1.17647% for each additional 1% decline, potentially resulting in the loss of some or all principal. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and had an estimated value at pricing of $991.30 per $1,000 note, below the issue price.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering market-linked, auto-callable notes tied to the common stock of Broadcom Inc. (AVGO), maturing July 26, 2029, with a $1,000 principal amount per security.
Per security, the price to the public is $1,000.00, including $25.75 in fees and commissions, for $974.25 in proceeds to the issuer. If priced on the sample terms, the estimated value would be about $958.90 and will not be less than $920.00 when finalized.
The notes feature a single call date on July 26, 2027. If Broadcom’s stock closes at or above the starting price on that date, the notes are automatically called and pay at least $1,312.00 per security (a 31.20% minimum call premium). If not called, at maturity investors receive leveraged upside at a 150% participation rate if the ending price is above the starting price, full principal back if the ending price is between the starting price and a threshold price at 60% of the starting price, and one-for-one downside exposure below the threshold, with the risk of losing more than 40%, up to all, of principal.
JPMorgan Chase Financial Company LLC is offering $607,000 of unsecured structured review notes linked to the lesser performing of the State Street Technology Select Sector SPDR ETF (XLK) and the VanEck Semiconductor ETF (SMH), fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination and matures on July 21, 2031.
The notes may be automatically called quarterly starting July 20, 2027 if each ETF closes at or above 100% of its Initial Value, paying $1,000 plus a fixed Call Premium Amount that steps up from 17.25% to 86.25% of principal over the review schedule. If not called and each ETF’s Final Value is at least its Barrier Amount (60% of its Initial Value), investors receive full principal at maturity.
If the notes are not called and either ETF finishes below its Barrier Amount, the maturity payment is $1,000 plus $1,000 times the Lesser Performing Fund Return, exposing investors to more than 40% loss and up to a total loss of principal. The price to public is $1,000 per note, including $41.25 in selling commissions and implied structuring/hedging costs; the issuer’s estimated value is $913.70 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.
JPMorgan Chase Financial Company LLC is offering callable contingent interest notes due July 3, 2028, linked to the least performing of the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.
Investors receive a Contingent Interest Payment on a Review Date only if each index closes at or above 70.00% of its Initial Value (the Interest Barrier; example 70.00 on a 100.00 base). If the notes are not redeemed early and, on the final Review Date, any index is below its Trigger Value of 60.00% of its Initial Value, principal is reduced 1% for each 1% decline in the Least Performing Index, potentially to zero.
The issuer may redeem the notes early, in whole, on specified Interest Payment Dates starting November 2, 2026, paying $1,000 per note plus any due contingent interest. The hypothetical Contingent Interest Rate is illustrated at 9.00% per annum (0.75% per month), with the actual rate to be set between 9.00% and 11.00% per annum. The indicative estimated value is $956.50 per $1,000 note, and will not be less than $900.00 per $1,000 at pricing, reflecting embedded selling, structuring and hedging costs. The notes carry issuer and guarantor credit risk, lack listing liquidity, cap upside to interest only, and may pay no interest.