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 Digital Contingent Buffered Notes linked to the common stock of Microsoft Corporation. The notes pay no coupons or dividends. At maturity on August 4, 2027, investors receive a fixed digital return if Microsoft’s closing price has not fallen too far from the strike.
For each $1,000 note, if the Final Stock Price is at or above the Stock Strike Price of $393.82, or below it by up to the 25.00% Contingent Buffer Amount, the holder receives $1,000 plus a Contingent Digital Return of at least 16.65%, capped at a minimum of $1,166.50. If the Final Stock Price is more than 25% below the strike, principal loss is 1% for each 1% decline, with the payoff formula $1,000 + ($1,000 × Stock Return), exposing investors to losses greater than 25% and possibly a total loss.
The notes are unsecured and unsubordinated obligations of JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., so payments depend on both entities’ credit. The indicative estimated value is about $981.80 per $1,000 note and will not be less than $970.00 when finalized, reflecting selling commissions (up to $10.00 per $1,000), hedging costs and issuer profit. The notes are not listed, may be accelerated upon certain events, and feature complex U.S. tax and withholding considerations, including treatment as prepaid financial contracts, and potential implications of Section 871(m) and FATCA for some investors.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable buffered return enhanced notes linked to the SPDR Gold Trust. Each note has a $1,000 principal amount and minimum denominations of $10,000 and integral multiples of $1,000.
The notes may be automatically called on July 30, 2027 if the SPDR Gold Trust share price is at or above the Share Strike Price of $368.41, paying $1,000 plus a call premium of at least 11.77%. If not called, at maturity on July 20, 2028 investors receive leveraged upside of at least 2.00 times any positive Fund Return, with no cap. A 25.00% contingent buffer protects principal if the Final Share Price is down by up to 25% from the strike; beyond that, losses occur 1% for each additional 1% decline, up to total loss of principal.
Selling commissions are capped at $15.00 per $1,000 note. The indicative estimated value is approximately $980.30 per $1,000 note and will not be less than $970.00 when finalized. Payments are unsecured and subject to the credit risk of both the issuer and guarantor.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to Oracle Corporation common stock, due July 25, 2028, in $1,000 minimum denominations. The notes are unsecured and unsubordinated obligations of JPMorgan Chase Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co.
Investors may receive monthly Contingent Interest Payments at a rate of at least 23.75% per annum (1.97917% per month) whenever Oracle’s closing price is at or above an Interest Barrier set at 50.00% of the Initial Value. Starting with the October 20, 2026 Review Date, the notes are automatically called if Oracle’s price is at or above the Initial Value, returning $1,000 plus the applicable contingent interest, with no further payments.
If the notes are not called and the Final Value is below the Trigger Value (also 50.00% of the Initial Value), principal is reduced one-for-one with Oracle’s decline, potentially down to zero. The estimated value would be about $960 per $1,000 note at pricing and will not be less than $940, reflecting embedded costs and hedging. The notes will not be listed, offer no dividend participation or stock upside, and all payments depend on the credit of JPMorgan Chase Financial and JPMorgan Chase & Co. Tax disclosure treats the notes as prepaid forward contracts with contingent coupons, with potential 30% withholding on coupons for many non‑U.S. holders.
JPMorgan Chase Financial Company LLC is issuing $1,741,000 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 pay a Contingent Interest Rate of 10.15% per annum (5.075% semiannually), but only if on a Review Date the Index is at or above the Interest Barrier of 70.00% of the Initial Value. Missed interest can be paid later if the barrier is subsequently met.
The notes are automatically called if, on any non-first, non-final Review Date, the Index is at or above 90.00% of the Initial Value, returning principal plus due and unpaid contingent interest. At maturity in July 2031, if not called and the Index is at or above the Buffer Threshold of 70.00% of the Initial Value, investors receive full principal plus contingent interest; otherwise principal is reduced 1% for each 1% Index decline beyond a 30.00% Buffer Amount, with up to 70.00% loss of principal.
The Index, based on leveraged E-mini S&P 500 futures with a 35% target volatility, 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. The estimated value is $935.70 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 contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, due July 29, 2031, and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are unsecured, unsubordinated obligations subject to the credit risk of both entities.
Investors may receive a Contingent Interest Payment on each Review Date only if the Index closing level is at least 80.00% of the Initial Value (the Interest Barrier. The indicative Contingent Interest Rate is at least 15.90% per annum, paid monthly. The notes are automatically called if, on specified Review Dates from July 26, 2027 onward, the Index is at or above the Initial Value, in which case investors receive $1,000 plus the applicable contingent interest and no further payments.
If not called, principal is protected only above the 85.00% Buffer Threshold. If the Final Value is below this level, repayment is reduced dollar-for-dollar beyond the 15.00% buffer, and investors can lose up to 85.00% of principal. The Index embeds a 6.0% per annum daily deduction and a daily notional financing cost on leveraged QQQ Fund exposure, which creates a persistent drag so the Index will trail an equivalent index without these charges. The estimated value is about $904.20 per $1,000 note, and will not be less than $900.00, reflecting selling costs and internal funding and hedging assumptions. The notes are not listed and may have limited or no liquidity.
JPMorgan Chase Financial Company LLC is offering callable contingent interest notes due July 27, 2029, linked to the least performing of the Russell 2000 Index, the S&P 500 Index and the State Street Utilities Select Sector SPDR ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a contingent interest rate of at least 9.00% per annum, payable monthly at a rate of at least 0.75% per month, but only if on a Review Date each underlying closes at or above an Interest Barrier set at 75.00% of its Initial Value. The notes have a 15.00% downside buffer: if not redeemed early and any underlying ends below its Buffer Threshold of 85.00% of its Initial Value, principal is reduced 1% for every 1% decline beyond the buffer, up to a maximum loss of 85.00%. The issuer can redeem the notes early, in whole, on specified Interest Payment Dates beginning January 28, 2027, paying $1,000 plus any due contingent interest. The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. and will not be listed; liquidity and secondary market pricing are not assured.
JPMorgan Chase Financial Company LLC is offering Uncapped Dual Directional Buffered Return Enhanced Notes due August 2, 2029, linked to the least performing of the Dow Jones Industrial Average®, the Nasdaq-100 Index® and the Russell 2000® Index. The notes are unsecured obligations of JPMorgan Chase Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., and expose holders to the credit risk of both entities.
At maturity, investors receive leveraged upside of at least 1.422× any positive return of the least performing index, or a capped positive return equal to the absolute value of any negative index return up to a 20.00% Buffer Amount. If any index falls by more than 20.00%, principal is reduced 1:1 beyond the buffer, with repayment as low as $200 per $1,000 if the least performing index declines 100%. The issuer estimates the notes’ value at approximately $960.90 per $1,000, with a minimum estimated value of $900.00, below the price to public, reflecting selling commissions, hedging costs and structuring fees. The notes pay no interest, do not provide dividends, are not listed, and may have limited or no secondary market liquidity.
JPMorgan Chase Financial Company LLC is offering $1,000,000 of Medium-Term Notes, Series A, Autocallable Contingent Coupon Equity-Linked Notes due July 20, 2027, linked to the common stock of Boston Scientific Corporation, and fully and unconditionally guaranteed by JPMorgan Chase & Co.
Each note has a $1,000 principal amount and pays a contingent coupon of $45.30 (4.53% quarterly, up to 18.12% per annum) only if on the relevant observation date the Boston Scientific share price is at least 65.00% of the initial level of $42.63. The notes are automatically called if on any non-final observation date the share price is at or above the initial level, returning principal plus the applicable coupon.
If the notes are not called and the final share level is below the 65.00% trigger buffer, repayment of principal is reduced one-for-one with the stock decline, down to zero, so 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, and have an estimated value of $970 per $1,000 at pricing, reflecting embedded fees and hedging costs.
JPMorgan Chase Financial Company LLC is offering Uncapped Buffered Return Enhanced Notes due July 24, 2031, linked to the least performing of the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, in minimum denominations of $1,000, fully and unconditionally guaranteed by JPMorgan Chase & Co.
At maturity, investors receive 1.64 times any positive return of the least performing index, with no upside cap. A 20.00% buffer protects against moderate declines, but if any index falls by more than 20.00%, principal is reduced 1% for each 1% drop beyond the buffer, down to a minimum of $200 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., and will not be listed on an exchange. An indicative estimated value is $976.70 per $1,000 note, and the final estimated value will not be less than $900.00, reflecting embedded selling, structuring and hedging costs and the issuer’s internal funding rate.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured callable Contingent Interest Notes linked individually to the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, maturing August 3, 2029, in $1,000 minimum denominations.
Monthly Contingent Interest Payments are made only if on a Review Date the closing level of each index is at or above 70.00% of its Initial Value (the Interest Barrier; Trigger Value 60.00%). The issuer may redeem the notes in whole on specified Interest Payment Dates beginning February 4, 2027.
If not redeemed and, on the final Review Date, any index is below its Trigger Value, repayment of principal is reduced 1% for each 1% decline in the Least Performing Index, down to zero. The hypothetical Contingent Interest Rate is at least 9.50% per annum, and the current estimated value is about $949.60 per $1,000 note, not less than $900.00 when set. Investors bear JPMorgan Financial and JPMorgan Chase & Co. credit risk and receive no dividends from the underlying indices.
JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated structured notes due February 1, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Payment on each monthly 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% of its Initial Value (the Interest Barrier). The contingent interest rate will be set between 9.50% and 11.50% per annum, paid monthly.
The notes are auto callable on specified Review Dates beginning January 28, 2027 if each Index is at or above its Initial Value; in that case investors receive $1,000 plus the applicable Contingent Interest Payment and no further payments. If not called, at maturity investors receive $1,000 plus the final Contingent Interest Payment if the Final Value of each Index is at or above 70% of its Initial Value (the Trigger Value). If any Index finishes below its Trigger Value, repayment of principal is reduced 1% for each 1% decline of the Least Performing Index, leading to partial or total loss of principal.
The notes are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., offer no participation in index upside or dividends, may not pay any interest, and are expected to have an initial estimated value below the $1,000 issue price (illustratively about $949.60, and not less than $900.00). Liquidity is expected to be limited and secondary market prices are expected to be below the issue price.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes due February 5, 2029, linked individually to the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, and 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 index is at least 70.00% of its Initial Value, defined as the Interest Barrier. Automatic call can occur on specified Review Dates from February 1, 2027 if each index is at or above its Initial Value, returning $1,000 per note 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 its Initial Value, principal is reduced 1% for every 1% decline of the least performing index, with potential loss of the entire principal. The hypothetical Contingent Interest Rate is illustrated at 10.50% per annum (0.875% per month), and the actual rate will be between 10.50% and 12.50% per annum. The estimated value, if priced today, is $967.90 per $1,000 note and will not be less than $900.00 per $1,000. The notes are unsecured, not FDIC-insured, may have limited or no secondary market liquidity, and embed significant risks, including issuer and guarantor credit risk, index volatility, potential non-payment of interest, and complex U.S. tax treatment.
JPMorgan Chase Financial Company LLC is offering Callable Contingent Interest Notes due July 6, 2028, linked to the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.
Investors may receive a monthly Contingent Interest Payment only if on each Review Date the closing level of each Index is at least 70.00% of its Initial Value (the Interest Barrier. The indicative Contingent Interest Rate will be between 11.00% and 13.00% per annum, paid monthly. The issuer may redeem the notes early, in whole, on specified Interest Payment Dates beginning on November 5, 2026.
If the notes are not redeemed early, principal repayment at maturity depends on the Least Performing Index. If the Final Value of each Index is at least 60.00% of its Initial Value (its Trigger Value), investors receive principal plus any final Contingent Interest Payment. If the Final Value of any Index is below its Trigger Value, repayment is reduced by the negative return of the Least Performing Index, resulting in a loss of more than 40% and up to 100% of principal.
The notes are unsecured, unsubordinated obligations of JPMorgan Financial, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and will not be listed. The indicative estimated value, if priced today, is $971.20 per $1,000 note, and will not be less than $900.00 per $1,000 at pricing. Extensive risk factors include loss of principal, the possibility of no interest payments, index, sector, small‑cap and non‑U.S. equity risks, limited liquidity, conflicts of interest, and uncertain U.S. tax treatment, including potential 30% withholding on Contingent Interest Payments for certain non‑U.S. holders.
JPMorgan Chase Financial Company LLC is offering Uncapped Accelerated Barrier Notes due August 5, 2031, linked to the least performing of the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index. The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., and expose investors to the credit risk of both entities.
At maturity, if the Final Value of each Index is above its Initial Value, investors receive $1,000 plus an uncapped return equal to the Least Performing Index Return multiplied by an Upside Leverage Factor of at least 1.765. If any Index finishes at or below its Initial Value but all are at or above 65.00% of their Initial Values (the Barrier Amount), investors receive only their principal. If the Final Value of any Index is below its Barrier Amount, repayment is reduced on a 1-for-1 basis with the decline of the Least Performing Index, so a 60% decline in that Index would result in a 40% repayment, or $400 per $1,000 note.
The notes pay no interest or dividends, are designed for buy-and-hold investors willing to risk substantial principal loss, and will not be listed on any securities exchange, limiting liquidity. The minimum denomination is $1,000$966.70 per $1,000 note, and at pricing it will not be less than $900.00 per $1,000. The issuer highlights risks including loss of principal if any Index breaches its barrier, credit risk, small-cap and non-U.S. equity exposure, potential conflicts of interest in hedging and pricing, secondary market value below issue price, and tax uncertainty regarding treatment as prepaid financial contracts and the possible future impact of Section 871(m) rules.
JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated Callable Contingent Interest Notes due July 31, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked to the least performing of the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index.
Investors receive a monthly Contingent Interest Payment only if on a Review Date the closing level of each Index is at least 70.00% of its Initial Value (the Interest Barrier). The Contingent Interest Rate will be at least 10.50% per annum, or 0.875% per month. The issuer may redeem the notes early, in whole, on specified Interest Payment Dates beginning February 2, 2027, paying $1,000 plus any due contingent interest.
If not redeemed early and on the final Review Date the Final Value of each Index is at least its Trigger Value (also 70.00% of Initial Value), investors receive $1,000 plus the final contingent interest. If the Final Value of any Index is below its Trigger Value, the maturity payment is $1,000 + ($1,000 × Least Performing Index Return), exposing holders to a loss of principal up to 100%. The estimated value is about $946.30 per $1,000 note, and will not be less than $900.00 when set, reflecting selling, structuring and hedging costs. The notes are not bank deposits, lack liquidity, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is issuing $2,001,000 in Auto Callable Yield Notes linked to the lesser performing of the State Street Financial Select Sector SPDR ETF and the common shares of The Progressive Corporation, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay interest at 9.50% per annum, credited monthly at 0.79167% of principal, as long as they are outstanding. They may be automatically called on specified Review Dates starting July 15, 2027 if the closing value of each underlying is at or above its Strike Value, in which case investors receive $1,000 per note plus the applicable interest, and no further payments.
If not called and the Final Value of each underlying on the final Review Date is at least its Trigger Value, equal to 65.00% of its Strike Value, investors receive $1,000 per note plus the final interest payment. If the Final Value of either underlying is below its Trigger Value, the maturity payment is reduced by the full negative return of the lesser performing underlying, so investors will lose more than 35% and up to all principal. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not FDIC insured, and have an estimated value of $970 per $1,000 at pricing, below the issue price, reflecting selling and hedging costs.
JPMorgan Chase Financial Company LLC is offering $650,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Large-Cap Vol Advantage Index, due July 21, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a 15.50% per annum Contingent Interest Rate (7.75% semiannually) only when the Index on a Review Date is at or above the Interest Barrier of 70.00% of the Initial Value. The notes are automatically called if, on any non-first, non-final Review Date, the Index is at or above 85.00% of the Initial Value, returning principal plus the applicable contingent interest. If held to maturity without being called and the Final Value is below the Trigger Value of 50.00% of the Initial Value, principal is reduced one-for-one with the Index loss, potentially to zero. The Index itself embeds 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.; the estimated value at pricing was $928.60 per $1,000 note, below the issue price.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Structured Investments Review Notes linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index, maturing July 28, 2031. The notes may be automatically called on specified Review Dates starting July 28, 2027 if each index closes at or above its Call Value of 100.00% of its Initial Value, paying $1,000 plus a Call Premium Amount of at least 12.00%–60.00% of principal depending on the call date.
If not called, principal is repaid at maturity only if the Final Value of each index is at or above its Barrier Amount of 70.00% of Initial Value. Otherwise, the payoff is $1,000 plus $1,000 times the Least Performing Index Return, so investors lose 1% of principal for each 1% decline of the least performing index from its Initial Value and can lose all principal. The notes pay no interest, provide no dividends, are unsecured obligations subject to the credit risk of both the issuer and guarantor, and have an estimated value of approximately $934.80 per $1,000, not less than $900.00 when set.
JPMorgan Chase Financial Company LLC is offering structured 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. Investors receive a monthly Contingent Interest Payment only when the Index closes at or above an Interest Barrier equal to 50.50% of the Initial Value; unpaid coupons may be caught up on later qualifying dates. The notes may be automatically called quarterly if the Index is at or above the Initial Value, with the earliest call date on July 26, 2027.
At maturity, if not called, principal is protected only down to a Buffer Threshold of 85.00% of the Initial Value, with a Buffer Amount of 15.00%; below that level, investors can lose up to 85.00% of principal. The Index embeds a 6.0% per annum daily deduction and a notional financing cost, causing it to lag an otherwise identical, undeducted index and magnifying negative performance, especially given potential leverage of up to 500%. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The minimum denomination is $1,000, price to public is $1,000 per note, and if priced on the reference date the estimated value would be about $915.40 per $1,000, with a final estimated value not less than $900.00 per $1,000.
JPMorgan Chase Financial Company LLC is offering $341,000 of Auto Callable Contingent Interest Notes linked to the common stock of Target Corporation, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination and a July 20, 2028 maturity, with an automatic call feature from January 19, 2027 onward if the Target share price on a Review Date (other than the first and final) is at least the Initial Value of $140.21.
The notes pay a quarterly Contingent Interest Payment of $30.00 per $1,000 note (a 12.00% per annum Contingent Interest Rate) only when the closing price of Target on a Review Date is at or above the Interest Barrier of 65.00% of the Initial Value, or $91.1365. Missed coupons can be paid later if a future Review Date meets the barrier. At maturity, if not called and the Final Value is at or above the Trigger Value (also 65.00% of the Initial Value), investors receive $1,000 plus any due contingent interest; otherwise, repayment equals $1,000 plus $1,000 times the Stock Return, exposing investors to losses greater than 35% and up to a full loss of principal.
The price to public is $1,000 per note, including total fees and commissions of $18.50 and proceeds to the issuer of $981.50 per note. The estimated value at pricing was $962.30 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., are not bank deposits or FDIC insured, may be accelerated upon certain delisting events, and are expected to trade in a limited, issuer-driven secondary market where prices will likely be below the issue price.
JPMorgan Chase Financial Company LLC is offering auto callable accelerated barrier notes due July 27, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked to the least performing of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index, each treated separately rather than as a basket.
The notes may be automatically called on July 30, 2027 if the closing level of each Index is at or above its Call Value, in which case investors receive $1,000 plus a Call Premium Amount of at least $200 per $1,000 note and no further payments. If not called and each Final Value exceeds its Initial Value, payment at maturity is $1,000 plus 1.575× the appreciation of the least performing Index. If any Final Value is at or below its Initial Value but all are at or above the Barrier Amount of 70.00% of Initial Value, investors receive principal only. If any Final Value is below its Barrier Amount, repayment is reduced one-for-one with the decline of the least performing Index, and investors can lose some or all principal.
The notes pay no interest and provide no dividends or equity-holder rights. They are unsecured and unsubordinated obligations of JPMorgan Financial, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. Liquidity may be limited because the notes are not listed, and secondary market prices are expected to be below the $1,000 issue price. If priced on the date shown, the estimated value would be $959.60 per $1,000, and the final estimated value will not be less than $900, reflecting embedded selling, structuring and hedging costs. The tax discussion describes treatment as an open prepaid financial contract, with potential future IRS guidance that could adversely affect tax consequences, and addresses possible Section 871(m) implications for non-U.S. holders.
JPMorgan Chase Financial Company LLC is offering structured Auto Callable Accelerated Barrier Notes due August 2, 2029, linked to the least performing of the Dow Jones Industrial Average®, the Nasdaq-100 Index® and the Russell 2000® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called on August 4, 2027 if the closing level of each Index is at or above its Call Value, in which case investors receive $1,000 per note plus a Call Premium Amount of at least $227.50 and no further payments. If not called and each Final Value exceeds its Initial Value, holders receive $1,000 plus 1.50 times the appreciation of the least performing Index; if any Final Value is at or below its Initial Value but at or above its Barrier Amount of 70% of Initial Value, principal is returned. If the notes are not called and any Index ends below its Barrier Amount, repayment is reduced one-for-one with the decline of the least performing Index, exposing investors to 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 are expected to price on or about July 29, 2026 with a preliminary estimated value of approximately $959.40 per $1,000 note, not less than $900.00.
JPMorgan Chase Financial Company LLC 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. Each note has a $1,000 denomination and a price to public of $1,000 per note.
The notes pay a monthly Contingent Interest Rate of at least 14.00% per annum only for Review Dates when the Index closes at or above the Interest Barrier, set at 75.00% of the Initial Value. Starting July 26, 2027, the notes are automatically called if, on an applicable Review Date (other than the first eleven and final), the Index closes at or above the Initial Value; investors then receive $1,000 plus that period’s contingent interest, and no further payments.
If not called, principal protection is limited. At maturity, if the Final Value is at or above the Buffer Threshold of 85.00% of the Initial Value, investors receive $1,000 plus the final contingent interest. If the Final Value is below the Buffer Threshold, repayment is reduced by the decline of the Index beyond the 15.00% Buffer Amount, with investors exposed to losses of up to 85.00% of principal. The Index embeds a 6.0% per annum daily deduction and a notional financing cost, which act as a persistent drag on performance. The indicative estimated value is about $905.70 per $1,000 note and will not be less than $900.00 when finalized.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the common stock of Hewlett Packard Enterprise Company, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have $1,000 minimum denominations and are expected to price on or about July 28, 2026 and settle on or about July 31, 2026.
Investors may receive a Contingent Interest Payment on each Review Date if HPE’s share price is at or above 60.00% of the Initial Value, with a Contingent Interest Rate of at least 29.35% per annumTrigger Value set at 50.00% of the Initial Value; below this level at final valuation, losses match the stock’s decline and can reach 100% of principal. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and secondary market liquidity and pricing may be limited.
JPMorgan Chase Financial Company LLC is offering $6,706,000 of unsecured Auto Callable Contingent Interest Notes linked to the common stock of Amazon.com, Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co., and maturing on January 21, 2028.
The notes pay a Contingent Interest Rate of 12.35% per annum (3.0875% quarterly) only if Amazon’s closing price on a Review Date is at or above 65% of the Initial Value, which also serves as the Interest Barrier. If on any non-final Review Date the stock closes at or above the Initial Value, the notes are automatically called and pay $1,000 plus the current and any unpaid contingent interest.
If not called, principal is protected only down to the Trigger Value of 65% of the Initial Value. At maturity, if Amazon’s Final Value is below the Trigger Value, repayment is $1,000 plus $1,000 times the Stock Return, exposing investors to losses up to 100% of principal. The price to public is $1,000 per note, including $15 of selling commissions; the issuer’s estimated value is $974.80 per $1,000, reflecting embedded costs and hedging.
JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated Auto Callable Contingent Interest Notes due August 3, 2029, linked to the MerQube US Gold Vol Advantage Index and fully guaranteed by JPMorgan Chase & Co. Investors receive a Contingent Interest Payment for each Review Date when the Index is at or above 65% of its Initial Value, but may receive no interest at all.
The notes may be automatically called as early as August 2, 2027 if the Index is at or above a Call Value (illustratively 90% of Initial Value), returning $1,000 per note plus the applicable interest, with no further payments. If held to maturity and not called, principal is protected only while the Final Index Value is at or above a Trigger Value set at 65% of Initial Value; below that level, repayment is reduced 1% for each 1% Index decline, down to zero.
The Index dynamically allocates leveraged exposure (0%–500%) to gold futures to target 35% volatility and is reduced by a 6.0% per annum daily deduction, which drags performance versus an undeducted index. The indicative contingent interest rate is at least 14.00% per annum, but the estimated value is below par, around $950 per $1,000 note (not less than $930), and liquidity and credit risks of JPMorgan Financial and JPMorgan Chase & Co. apply.
JPMorgan Chase Financial Company LLC is offering $9,568,000 of Auto Callable Contingent Interest Notes linked individually to the Dow Jones Industrial Average®, the Russell 2000® Index and the VanEck® Semiconductor ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co., and maturing on June 22, 2028.
The notes pay a monthly Contingent Interest Rate of 23.75% per annum (1.97917% per month) only if, on a Review Date, each underlying is at or above its Interest Barrier of 65.00% of its Initial Value. Starting October 16, 2026, the notes are automatically called if, on a Review Date (other than the first, second and final), each underlying is at or above its Initial Value, returning $1,000 plus that period’s contingent interest.
If the notes are not called, principal repayment depends on the Least Performing Underlying. If, on the final Review Date, each underlying is at or above its Trigger Value of 55.00% of Initial Value, investors receive $1,000 plus any final contingent interest. If any underlying finishes below its Trigger Value, repayment is reduced dollar-for-dollar with the negative return of the least performing underlying, up to a total loss of principal. The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not listed, may be illiquid, and have an estimated value of $976.00 per $1,000 at pricing, below the $1,000 issue price due to embedded costs.
JPMorgan Chase Financial Company LLC is offering callable contingent interest notes due August 3, 2029, linked to the least-performing of the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.
Investors receive a Contingent Interest Payment on each Review Date only if the closing level of each index is at least 70.00% of its Initial Value (the Interest Barrier). The notes are callable at the issuer’s option on any Interest Payment Date from February 4, 2027, in which case investors receive $1,000 plus the applicable contingent interest and no further payments.
If not redeemed early and on the final Review Date every index is at or above its 70.00% Trigger Value, investors receive $1,000 plus the final contingent coupon. If any index is below its Trigger Value, the payoff is $1,000 plus $1,000 × Least Performing Index Return, exposing holders to more than 30% principal loss and potentially a total loss. A hypothetical 10.00% per annum rate (2.50% per quarter) would produce up to $300 of coupons over the term if paid on all 12 dates. The indicative estimated value is about $950 per $1,000 at launch and will not be less than $930, reflecting built-in selling commissions of up to $17.50 and a structuring fee of up to $1.00 per $1,000, as well as hedging and other costs.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Auto Callable Buffered Return Enhanced Notes linked to the EURO STOXX 50® Index. Each note has a $1,000 principal amount, minimum investment $10,000, with an Index Strike Level of 6,265.58.
The notes may be automatically called on July 28, 2027 if the Index closing level is at or above the strike, paying $1,000 plus a 12.65% call premium per note on August 2, 2027. If not called and the Index rises at maturity (July 20, 2028), investors receive an uncapped leveraged upside of 1.25 times the Index Return.
If held to maturity and the Index is at or above the strike or down by up to the 20.00% buffer, principal is returned. If the Index is more than 20.00% below the strike, losses are leveraged 1.25x beyond the buffer, potentially resulting in a total loss of principal. The notes pay no interest or dividends and are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The price to public is $1,000 per note, including $15 in fees, versus an estimated value of $980.30.
JPMorgan Chase Financial Company LLC is issuing $730,000 of unsecured 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 monthly coupon at 14.20% per annum (1.18333% per month) only when, on an Interest Review Date, the Index closes at or above an Interest Barrier set at 60% of the Initial Value. There is no guaranteed interest and some or all coupons may be skipped.
The notes may be automatically called quarterly starting January 19, 2027 if the Index closes at or above the Initial Value on an Autocall Review Date, in which case holders receive $1,000 plus the applicable contingent interest and no further payments. If not called, principal is protected only down to a Trigger Value equal to 60% of the Initial Value; if the Final Value is below this level, repayment is reduced 1:1 with the Index decline, potentially to zero.
The Index uses a target volatility strategy on an unfunded position in the Invesco QQQ Fund with weekly rebalancing, maximum 500% exposure and a 6.0% per annum daily index deduction plus a daily notional financing cost (SOFR + 0.50%), which together act as a drag and cause the Index to trail a comparable index without such charges. The estimated value of the notes at pricing was $937 per $1,000, below the $1,000 issue price, reflecting selling commissions, hedging costs and issuer funding assumptions. Repayment is subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and the notes will not be listed, so liquidity may be limited.
JPMorgan Chase Financial Company LLC is issuing $5,011,000 of Auto Callable Accelerated Barrier Notes due July 19, 2029, linked to the least performing of the Dow Jones Industrial Average, Nasdaq‑100 Index and Russell 2000 Index, fully guaranteed by JPMorgan Chase & Co. The notes may be automatically called on July 22, 2027 if each index is at or above its Call Value, paying $1,000 principal plus a fixed Call Premium Amount of $242.50 per note.
If not called and each index ends above its initial level at maturity, investors receive 2.00x the positive return of the least performing index. If any index finishes at or below its initial level but all remain at or above 70.00% Barrier Amount, only principal is returned. If any index closes below its Barrier Amount, repayment is reduced 1% for each 1% decline in the least performing index, down to total loss. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are sold at $1,000 per note with an estimated value of $982.40, and are not listed, so liquidity and secondary prices are uncertain.
JPMorgan Chase Financial Company LLC is offering structured Review Notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The total offering is $260,000, issued in minimum denominations of $1,000 per note.
The notes may be automatically called on any of 17 Review Dates from July 20, 2027 through July 16, 2031 if the Index closing level is at or above the Call Value, paying $1,000 plus a fixed Call Premium Amount that steps up from 25.300% to 126.500% of principal. If not called and the Final Value is at or above the Barrier Amount of 50.00% of the Initial Value (6,914.805), investors receive principal back at maturity on July 21, 2031.
If the notes are not called and the Final Value is below the Barrier Amount, the maturity payment equals $1,000 plus $1,000 times the Index Return, exposing investors to losses that can exceed 50% and up to a total loss of principal. The Index embeds a 6.0% per annum daily deduction and a daily notional financing cost on the QQQ Fund, which drag performance and cause the Index to trail an otherwise identical index without these deductions. Payments are unsecured and subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing was $937.20 per $1,000 note, below the $1,000 issue price due to selling, structuring and hedging costs.
JPMorgan Chase Financial Company LLC is offering $735,000 of Callable Contingent Interest Notes linked to the Nasdaq-100, Russell 2000 and S&P 500, guaranteed by JPMorgan Chase & Co. The notes pay a 9.25% p.a. Contingent Interest Payment on each Review Date only if the closing level of each index is at least 70.00% of its Initial Value (the Interest Barrier). If any index is below its Interest Barrier on a Review Date, no interest is paid for that period.
The notes are callable at the issuer’s option on specified Interest Payment Dates beginning October 21, 2026, and mature on June 22, 2028, with a minimum denomination of $1,000. If not redeemed early, and on the final Review Date each index is at or above its 80.00% Buffer Threshold, investors receive $1,000 plus the final contingent coupon. If any index finishes below its Buffer Threshold, principal is reduced dollar-for-dollar beyond a 20.00% buffer, for up to an 80.00% loss of principal. The price to public is $1,000 per note, including $7.25 in selling commissions, with issuer proceeds of $992.75 per note; the estimated value at pricing was $982.10. The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., may be illiquid, and do not provide dividends or index upside.
JPMorgan Chase Financial Company LLC is offering $600,000 of auto callable contingent interest notes due July 21, 2031, linked to the MerQube US Large-Cap Vol Advantage Index and fully guaranteed by JPMorgan Chase & Co. The notes have minimum denominations of $1,000.
Investors may receive a 14.50% per annum Contingent Interest Payment (3.625% quarterly) for each Review Date on which the Index closes at or above 70% of the Initial Value (the Interest Barrier. The notes are automatically called, starting as early as July 16, 2027, if the Index is at or above the Call Value.
If not called and the Final Value is below the 50% Trigger Value, principal is reduced 1% for each 1% Index decline from the Initial Value, potentially to zero. The Index includes a 6.0% per annum daily deduction and can use leverage up to 500%, which can amplify losses. The price to public is $1,000 per note, with selling commissions of $7.50 and proceeds to issuer of $992.50 per note; the estimated value at pricing was $930.40, and investors face JPMorgan Financial and JPMorgan Chase & Co. credit risk, limited liquidity, and complex U.S. tax and withholding treatment.
JPMorgan Chase Financial Company LLC is offering structured notes titled Uncapped Accelerated Barrier 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 total issuance is $343,000, in minimum denominations of $1,000 per note, priced on July 16, 2026 and expected to mature on July 21, 2031.
At maturity, if the Final Value of each Index exceeds its Initial Value, investors receive $1,000 plus 1.495 times the appreciation of the lesser performing index. If either index finishes at or below its Initial Value but both remain at or above the Barrier Amount of 65% of Initial Value, principal is returned. If either index closes below its Barrier Amount, repayment is reduced 1% for each 1% decline of the lesser performing index from its Initial Value, potentially down to zero.
The notes pay no interest, provide no dividends, are unsecured and unsubordinated obligations of JPMorgan Chase Financial, and are subject to the credit risk of both the issuer and guarantor. The price to public is $1,000 per note, including $6 in selling commissions, yielding $994 in proceeds to the issuer; the estimated value at pricing was $978.90 per $1,000 note, reflecting internal funding and hedging costs.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $575,000 of Auto Callable Yield Notes linked to the Class A common stock of Palantir Technologies Inc., maturing January 21, 2028. The notes pay interest at 17.30% per annum, credited at 8.65% semiannually if the notes remain outstanding.
The notes are automatically called, starting January 15, 2027, if Palantir’s closing share price on a review date (other than the final one) is at least the Strike Value of $133.76, returning $1,000 principal plus the applicable interest payment. If not called and the Final Value on the last review date is at least the Trigger Value, 60.00% of the Strike Value, investors receive $1,000 plus final interest.
If the notes are not called and the Final Value is below the Trigger Value, repayment of principal is reduced dollar-for-dollar with Palantir’s decline from the Strike Value, in addition to the final interest payment, so investors can lose more than 40% and up to all of principal. The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The price to the public is $1,000 per note, including fees and commissions, versus an estimated value of $967.10.
JPMorgan Chase Financial Company LLC is issuing $3,193,000 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 pay a Contingent Interest Rate of 17.25% per annum (1.4375% per month) for any Review Date on which the Index closes at or above 70% of the Initial Value (the Interest Barrier).
The notes may be automatically called on certain Review Dates starting January 19, 2027 if the Index is at or above the Initial Value, in which case investors receive $1,000 plus the applicable contingent interest and no further payments. If not called, at maturity on July 19, 2030 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; otherwise they lose 1% of principal for each 1% decline of the Index from the Initial Value, potentially losing the entire principal.
The Index uses leveraged exposure (up to 500%) to E-mini S&P 500 futures and is reduced by a 6.0% per annum daily deduction, which drags performance. The price to public is $1,000 per note, including up to $11.50 in selling commissions; net proceeds are $988.5188 per note, and the estimated value at pricing was $938.30 per $1,000 note. Payments are unsecured and subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and the notes may be illiquid, may pay no interest, and are not principal-protected.
JPMorgan Chase Financial Company LLC is issuing $1,530,000 of auto callable contingent interest notes due January 21, 2028, linked individually to the common stock of Advanced Micro Devices, NVIDIA and Tesla, and fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a Contingent Interest Rate of 31.00% per annum (2.58333% monthly) only on Review Dates when the closing price of each stock is at or above 60.00% of its Initial Value; missed coupons can be paid later if conditions are met. Starting October 16, 2026, the notes are automatically called if, on a Review Date (other than the first, second and final), each stock is at or above its Initial Value, returning $1,000 plus due and unpaid contingent interest.
If not called, principal repayment at maturity depends on the Least Performing Reference Stock. If each final stock price is at or above its Trigger Value (50% of Initial Value), investors receive full principal plus applicable contingent interest. If any falls below its Trigger Value, repayment is $1,000 plus $1,000 times the Least Performing Stock Return, creating potential for significant or total loss of principal. The notes are unsecured obligations subject to JPMorgan Financial and JPMorgan Chase & Co. credit risk, are not listed, may be illiquid, and have an estimated value of $976.30 per $1,000, below the issue price.
JPMorgan Chase Financial Company LLC is offering $4,057,000 of auto callable contingent interest notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500 indices, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a 10.50% per annum Contingent Interest (0.875% monthly) only for Review Dates when each index closes at or above 70.00% of its Initial Value. Beginning January 19, 2027, the notes are automatically called if, on certain Review Dates, each index is at or above its Initial Value, returning $1,000 plus that period’s interest.
If not called, and on the final Review Date any index finishes below 70.00% of its Initial Value, principal is reduced 1% for each 1% decline in the Least Performing Index, down to a total loss. The notes price at $1,000 per note, with an estimated value of $971, are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC is offering Auto Callable Buffered Return Enhanced Notes linked to the EURO STOXX 50® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a principal amount of $1,000 each, minimum purchase $10,000, with an aggregate offering of $3,700,000.
The notes may be automatically called on July 28, 2027 if the Index closes at or above the Index Strike Level of 6,265.58, paying $1,000 plus a 14.00% call premium. If not called and the July 17, 2028 Ending Index Level is above the strike, investors receive an uncapped leveraged upside of 1.25× the Index Return. If the Ending Index Level is at or up to 15.00% below the strike, principal is returned. Below that buffer, investors lose 1.17647% of principal for every 1% decline beyond 15%, potentially losing all principal.
The notes pay no interest or dividends and are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The price to public is $1,000 per note, including $15 in fees; the issuer’s proceeds are $985 per note. The initial estimated value is $980.80 per $1,000 note, based on internal models and funding rates.
JPMorgan Chase Financial Company LLC is offering $650,000 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 pay a contingent interest rate of 13.25% per annum, payable quarterly, only if on a Review Date the Index closing level is at or above 70% of the Initial Value (the Interest Barrier).
The notes may be automatically called on any Review Date from July 16, 2027 (excluding the first three and final Review Dates) if the Index is at or above the Call Value, in which case investors receive principal plus the applicable contingent interest and no further payments. If not called, at maturity investors receive principal plus any final contingent interest if the Index is at or above the Trigger Value; otherwise, repayment is reduced 1% for each 1% Index decline, with potential loss of all principal.
The underlying Index is a leveraged, rules-based futures strategy with a 35% target volatility and a 6.0% per annum daily deduction, which drags performance and can cause the Index to decline even when its investment strategy is flat or modestly positive. The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The issue price is $1,000 per note, including $5 in selling commissions, while the estimated value at pricing was $941.70 per $1,000, reflecting structuring and hedging costs and an internal funding rate.
JPMorgan Chase Financial Company LLC is offering $260,000 of Auto Callable Buffered Return Enhanced Notes linked to the S&P 500® Futures Excess Return Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a maturity date of July 19, 2029 and may be automatically called on July 22, 2027 if the Index is at or above a specified Call Value, paying $1,095.50 per $1,000 note (principal plus a $95.50 call premium).
If not called and the Index is above its Initial Value at maturity, investors receive an uncapped payoff of 1.50× the Index gain. If the Final Value is at or up to 20% below the Initial Value, principal is returned. Below this 20% Buffer Amount, investors lose 1% of principal for each additional 1% Index decline, for a maximum 80% loss. The notes pay no interest, are issued in $1,000 minimum denominations, and are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.
The price to public is $1,000 per note, including selling commissions of $29.50, for issuer proceeds of $970.50 per note. The initial estimated value is $960.50 per $1,000 note, reflecting embedded costs and issuer funding assumptions. The notes are not bank deposits, are not FDIC insured, and will not be listed; secondary market prices are expected to be lower than the issue price.
JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes linked to the common stock of Lumentum Holdings Inc. (LITE), fully and unconditionally guaranteed by JPMorgan Chase & Co., and scheduled to mature on January 25, 2027.
Holders receive a Contingent Interest Payment of at least $33.2083 per $1,000 (at least 19.925% over the term, paid at a rate of at least 3% per month) for each Review Date on which Lumentum’s closing price is at or above the Interest Barrier of 50.00% of the Initial Value. If the closing price is below the barrier, no interest is paid for that period.
The notes may be automatically called on any Review Date other than the first, second and final if the closing price is at least the Initial Value, with investors receiving $1,000 plus the applicable contingent interest and no further payments. If not called and the Final Value is at or above the Trigger Value (50.00% of the Initial Value), investors receive $1,000 plus the final contingent interest. If the Final Value is below the Trigger Value, repayment equals $1,000 plus $1,000 × Stock Return, so investors lose 1% of principal for each 1% decline from the Initial Value and can lose more than 50% or all of their principal.
The minimum denomination is $1,000. An initial estimated value is indicated at approximately $965.40 per $1,000 note, and the final estimated value will not be less than $930.00 per $1,000. Payments are unsecured obligations of JPMorgan Chase Financial Company LLC, subject to the credit risk of both the issuer and JPMorgan Chase & Co., and the notes will not be listed on any securities exchange.
JPMorgan Chase Financial Company LLC is issuing $738,000 of Auto Callable Contingent Interest Notes linked to the Nasdaq-100, Russell 2000 and S&P 500 indices, due June 22, 2028, in minimum denominations of $1,000. The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a 9.00% per annum Contingent Interest Rate (0.75% 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. Beginning January 19, 2027, the notes are automatically called if, on a Review Date (other than the first five and final), each index closes at or above its Initial Value, paying $1,000 plus the applicable contingent interest and ending further payments.
If not called, and on the final Review Date each index’s Final Value is at or above its Trigger Value (also 70.00% of Initial Value), investors receive $1,000 plus the final contingent interest. If any index is below its Trigger Value, the maturity payment becomes $1,000 + ($1,000 × Least Performing Index Return), so principal loss is one-for-one with the decline of the least performing index and can reach 100%. The notes do not pay fixed interest or dividends, are subject to the credit risk of JPMorgan Chase Financial and JPMorgan Chase & Co., may be illiquid, and have an estimated value of $961.20 per $1,000 at pricing, below the issue price due to embedded costs.
JPMorgan Chase Financial Company LLC is issuing $1,030,000 of Auto Callable Contingent Interest Notes due January 19, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked to the least performing of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index.
The notes pay a contingent interest rate of 9.50% per annum, credited monthly (0.79167% per month), only if on a Review Date the closing level of each index is at or above its Interest Barrier of 80% of its Initial Value. Starting with the January 19, 2027 Review Date, the notes are auto callable if each index is at or above its Initial Value, returning $1,000 plus the applicable contingent interest, with no further payments.
If not called, at maturity investors receive $1,000 plus any final contingent interest if the Final Value of each index is at or above its Trigger Value of 70% of Initial Value. If the least performing index finishes below its Trigger Value, principal is reduced 1% for each 1% decline from its Initial Value, potentially resulting in a significant or total loss of principal. The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The price to public is $1,000 per note, with an estimated value of $953.30 and proceeds to the issuer of approximately $974.92 per $1,000 note.
JPMorgan Chase Financial Company LLC is offering $690,000 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 pay a Contingent Interest Payment on each Review Date only if the Index closes at or above 70.00% of the Initial Value (the Interest Barrier), at a 12.50% per annum rate (3.125% per quarter).
The notes may be automatically called on specified Review Dates on or after July 16, 2027 if the Index is at or above the Call Value, in which case investors receive $1,000 principal plus the applicable Contingent Interest Payment and no further payments. If the notes are not called and the Final Value is below the 50.00% Trigger Value, repayment is $1,000 + ($1,000 × Index Return), so investors can lose a significant portion or all of principal.
The underlying Index provides leveraged exposure (up to 500%) to E-mini S&P 500 futures and is subject to a 6.0% per annum daily deduction, which drags performance and causes it to trail an identical index without such deduction. The notes are unsecured, unsubordinated obligations of JPMorgan Financial, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The price to public is $1,000 per note, with estimated value $942.40 per $1,000 at pricing and proceeds to issuer of $686,550 after fees.
JPMorgan Chase Financial Company LLC is offering $2,054,000 of Auto Callable Contingent Interest Notes linked to the common stock of Netflix, Inc., due August 19, 2027, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Rate of 9.65% per annum (0.80417% per month) only for Review Dates when the Netflix share price is at or above 60.00% of the Initial Value, the Interest Barrier.
The notes may be automatically called on certain Review Dates, starting January 19, 2027, if the Netflix share price is at or above the Initial Value, in which case investors receive $1,000 plus the applicable contingent interest and no further payments. If not called, and the Final Value is at or above the Trigger Value (also 60.00% of the Initial Value), investors receive principal plus the final contingent interest.
If the notes are not called and the Final Value is below the Trigger Value, repayment is reduced by the full negative stock return, and investors can lose some or all principal. The notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The price to public is $1,000 per note, including $15 in selling commissions; the issuer’s estimated value at pricing was $966 per $1,000 note.
JPMorgan Chase Financial Company LLC is issuing $2,198,000 of callable Contingent Interest Notes linked individually to the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination, matures on June 22, 2028, and may be redeemed early at the issuer’s option on specified Interest Payment Dates beginning October 21, 2026.
Investors may receive a Contingent Interest Rate of 11.00% per annum (0.91667% monthly) only when the closing level of each Index on a Review Date is at or above its Interest Barrier of 70% of Initial Value; otherwise no interest is paid. If held to maturity and any Index finishes below its Trigger Value of 60% of Initial Value, repayment is reduced 1:1 with the Least Performing Index, potentially down to zero. The price to public is $1,000 per note, with selling-related fees embedded; the issuer’s estimated value is lower at $974.40 per note. The notes are unsecured, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not FDIC insured, and are expected to have limited or no secondary market liquidity.
JPMorgan Chase Financial Company LLC is offering $1,809,000 of callable contingent interest notes linked individually to the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a 9.00% per annum contingent coupon (0.75% monthly) only if on a Review Date the closing level of each index is at least 70.00% of its Initial Value. They are callable at the issuer’s option on specified Interest Payment Dates from October 21, 2026 through maturity on June 22, 2028. If not called, at maturity investors receive principal plus the final coupon only if the Least Performing Index finishes at or above its 60.00% Trigger Value; otherwise repayment is reduced 1% for each 1% decline in that index, down to a total loss of principal.
The notes are unsecured, unsubordinated obligations of JPMorgan Financial, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., are not listed, and may be illiquid. The estimated value at pricing was $960.00 per $1,000 note, below the issue price, reflecting selling commissions, hedging costs and issuer funding assumptions, and investors forgo dividends on the underlying indices.
JPMorgan Chase Financial Company LLC is issuing $992,000 of Auto Callable Contingent Interest Notes due July 21, 2031, linked to the MerQube US Tech+ Vol Advantage Index and fully guaranteed by JPMorgan Chase & Co. The notes pay a contingent interest rate of 8.50% per annum, credited monthly only when the Index closes on a review date at or above an Interest Barrier set at 51.00% of the Initial Value; missed coupons can be paid later if conditions are met. The notes are automatically called quarterly if the Index is at or above its Initial Value, with return of principal plus due coupons, starting as early as July 16, 2027.
At maturity, if not called, principal is protected only down to a Buffer Threshold of 85.00% of the Initial Value; below that, investors lose 1% of principal for each 1% Index decline beyond the 15.00% buffer, up to an 85.00% loss of principal. The underlying Index uses up to 500% leverage, targets 35% implied volatility, and is reduced by a 6.0% per annum daily deduction plus a notional financing cost on the QQQ exposure, so it will trail an equivalent index without these charges. 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, with selling commissions of $39 per $1,000 and an estimated value of $914.20 per $1,000 at pricing.