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 $250,000 of Uncapped Buffered Return Enhanced Notes linked to the S&P 500® Futures Excess Return Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on July 18, 2031 and are issued in $1,000 minimum denominations.
At maturity, investors receive 1.99 times any positive Index return, with principal repaid in full if the Index decline is within the 25.00% buffer. If the Index falls more than 25.00%, principal is reduced 1% for each additional 1% decline, up to a 75.00% loss.
The notes pay no interest, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not be listed. The price to public is $1,000, including $8 in selling commissions; the issuer’s estimated value is $982.80 per $1,000 at pricing.
JPMorgan Chase Financial Company LLC is offering $1,691,000 principal amount of Callable Contingent Interest Notes due January 21, 2028, linked to the lesser performance of the Nasdaq-100® Technology Sector and the Russell 2000® Index. The notes pay a Contingent Interest Rate of 13.20% per annum, credited monthly at 1.10%, but only for Review Dates when each index closes at or above 70% of its Initial Value, the Interest Barrier.
The issuer can redeem the notes early, in whole, on specified Interest Payment Dates starting October 20, 2026, paying $1,000 plus any due contingent interest. If held to maturity and the Final Value of each index is at least its Trigger Value (also 70% of Initial Value), investors receive $1,000 plus the final contingent interest. If either index finishes below its Trigger Value, repayment is reduced to $1,000 plus $1,000 × Lesser Performing Index Return, exposing investors to substantial or total principal loss. The notes are unsecured obligations of JPMorgan Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., with an estimated value of $980 per $1,000 at pricing, below the $1,000 issue price.
JPMorgan Chase Financial Company LLC is offering $2,305,000 Callable Contingent Interest Notes due July 19, 2029, linked to the lesser performing of the iShares MSCI EAFE ETF and the iShares MSCI Emerging Markets ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a Contingent Interest Rate of 13.50% per annum (3.375% per quarter) only for Review Dates when the closing price of one share of each fund is at or above its Interest Barrier of 70.00% of Initial Value. If the Final Value of either fund is below its Trigger Value of 60.00% of Initial Value and the notes have not been redeemed early, principal is reduced 1% for each 1% decline in the lesser performing fund, potentially to zero.
JPMorgan may redeem the notes early, in whole, on any Interest Payment Date except the final one, paying $1,000 plus any due contingent interest. The issue price is $1,000 per note, with selling commissions of $6.50 and proceeds of $993.50 to the issuer; the estimated value is $971.60 per $1,000 note. The unsecured notes expose investors to fund performance, currency and emerging markets risks, issuer and guarantor credit risk, limited liquidity and complex U.S. tax treatment.
JPMorgan Chase Financial Company LLC is offering $1,778,000 of structured “Review Notes” linked to the Dow Jones Industrial Average, the Russell 2000 Index and the S&P 500 Index, due July 18, 2030, in $1,000 denominations, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes may be automatically called on scheduled Review Dates starting July 20, 2027 if each index is at or above its Call Value (100% of its Initial Value), paying $1,000 plus a Call Premium Amount of 13.15%, 26.30%, 39.45% or 52.60% depending on the call date. If not called, principal is repaid at maturity only if each index’s Final Value is at or above its Barrier Amount of 70% of its Initial Value; otherwise, investors lose 1% of principal for each 1% decline of the Least Performing Index, with the potential for full principal loss.
The price to the public is $1,000 per note, including $10 in selling commissions, for issuer proceeds of $990 per note. The estimated value at pricing is $970.20 per $1,000, reflecting selling, structuring and hedging costs. The notes pay no interest, provide no index dividends, are unsecured obligations subject to the credit risk of both the issuer and guarantor, are not listed on any exchange, and may have limited or no secondary market liquidity.
JPMorgan Chase Financial Company LLC is offering Capped Buffered Enhanced Participation Equity Notes due October 22, 2027, linked to the S&P 500 Index and fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and is issued at 100% of principal, with selling commissions up to 0.92%.
The notes pay no interest. At maturity, investors receive: principal plus 1.50× any S&P 500 gain, capped at a maximum settlement amount expected between $1,146.10 and $1,171.45 per $1,000; principal protection down to a 10% buffer; and leveraged losses of about 1.1111% for each 1% S&P 500 decline beyond 10%. If the index falls 100%, the notes can lose all principal.
The estimated value when terms are set is expected between $979.40 and $989.40 per $1,000, below issue price due to structuring, hedging costs and commissions. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., will not be listed, and may have limited or illiquid secondary trading with prices influenced by internal funding rates and hedging profits.
JPMorgan Chase Financial Company LLC is offering Uncapped Accelerated Barrier Notes due July 21, 2031, linked to the lesser performance of the EURO STOXX 50® Index and the STOXX® Europe 600 Index. The notes provide an Upside Leverage Factor of at least 2.39x on any positive return of the lesser performing index at maturity, with no upside cap.
The structure includes a Barrier Amount at 70% of each Index’s Strike Value. If either index finishes below its barrier, investors lose 1% of principal for each 1% decline of the lesser performing index from its Strike Value and can lose all principal. The notes pay no interest or dividends, are unsecured obligations of JPMorgan Financial fully guaranteed by JPMorgan Chase & Co., and are subject to their credit risk. The indicative estimated value is about $970 per $1,000 note and will not be less than $950 per $1,000 at pricing, reflecting embedded fees, hedging costs and issuer funding assumptions.
JPMorgan Chase Financial Company LLC is offering structured notes linked to the least performing of the Dow Jones Industrial Average®, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called on any Review Date from August 4, 2027 through August 4, 2031 if each Index closes at or above 100.00% of its Initial Value, paying $1,000 plus a Call Premium Amount of at least 10.05% to 50.25% of $1,000, depending on the Review Date.
If not called, and on the final Review Date the Final Value of each Index is at least its Barrier Amount of 70.00% of Initial Value, investors receive principal back at maturity on August 7, 2031. If any Index is below its Barrier Amount, the payout becomes $1,000 plus $1,000 times the Least Performing Index Return, exposing investors to losses greater than 30% and up to a complete loss of principal. The notes pay no interest or dividends, are unsecured and unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated value is indicated as approximately $937.00 per $1,000 note, and will not be less than $900.00 per $1,000 when finalized.
JPMorgan Chase Financial Company LLC is offering $525,000 principal amount of Uncapped Accelerated Barrier Notes linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100 Index® and S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes provide 1.71x the positive return of the least performing index at maturity, with no upside cap. If any index closes below its 70% Barrier Amount on the observation date, principal is reduced one-for-one with the index loss, up to a total loss. The notes pay no interest or dividends, are unsecured and unsubordinated, and expose holders to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. An estimated value of $978.10 per $1,000 note is below the $1,000 price to public, reflecting selling commissions, hedging costs and issuer funding assumptions. The notes are not listed, and secondary market prices are expected to be below the issue price.
JPMorgan Chase Financial Company LLC is offering $242,000 in Auto Callable Accelerated Barrier Notes linked to the Nasdaq‑100, Russell 2000 and S&P 500, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a maturity date of July 18, 2031 and may be automatically called as early as July 21, 2027 if each index is at or above its Call Value on the Review Date, paying $1,000 principal plus a $120 Call Premium per note.
If not called and each index finishes above its Initial Value, investors receive an uncapped leveraged payoff of 2.1535× the appreciation of the least performing index. If any index ends between its Initial Value and a Barrier Amount of 70% of its Initial Value, investors receive principal only. If any index finishes below its Barrier Amount, repayment is reduced 1% for every 1% decline in the least performing index, with the possibility of losing all principal.
The notes pay no interest or dividends and are unsecured obligations of JPMorgan Financial, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The price to the public is $1,000 per note, including $41.25 in selling commissions, with an estimated value of $947.10 per note at pricing.
JPMorgan Chase Financial Company LLC is offering $3,883,000 of unsecured Review Notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are designed for early automatic call if the Index closes at or above the Call Value on scheduled Review Dates starting July 20, 2027, paying call premiums from 20.05% up to 100.25% of principal per $1,000 note.
If not called, holders have a 15.00% Buffer Amount; losses begin if the Final Value is more than 15% below the Initial Value, with maximum loss of up to 85.00% of principal at maturity. The Index embeds a 6.0% per annum daily deduction and a daily notional financing cost on its QQQ Fund exposure, causing it to trail a similar index without these charges and potentially exerting a significant drag on performance. The Index targets 35% volatility with dynamic exposure between 0% and 500%, introducing leverage and volatility drag risks. The notes do not pay interest or dividends, are not bank deposits or FDIC insured, and any payment depends on the credit of JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing was $910.10 per $1,000 note, below the $1,000 issue price due to selling, structuring and hedging costs.
JPMorgan Chase Financial Company LLC is issuing $1,478,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Tech+ Vol Advantage Index, maturing on July 18, 2031 and fully guaranteed by JPMorgan Chase & Co.
The notes pay a contingent interest rate of 11.25% per annum (2.8125% quarterly) only if, on a Review Date, the Index closes at or above 60% of the Initial Value (the Interest Barrier); otherwise no interest is paid. Starting July 15, 2027, the notes are automatically called if the Index is at or above the Initial Value, returning $1,000 plus that period’s contingent interest, with no further payments.
If not called, principal is protected only if the Final Index Value is at least 50% of the Initial Value (the Trigger Value). Below the Trigger, repayment is $1,000 + ($1,000 × Index return), so investors can lose most or all principal. The Index itself is complex: it 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 (SOFR + 0.50%), which create performance drag. The notes are unsecured, subject to JPMorgan credit risk, not listed, and priced at $1,000 with estimated value of $897.20 per note, reflecting fees and structuring/hedging costs.
JPMorgan Chase & Co. is offering $3,000,000,000 of fixed-rate reset subordinated notes due July 23, 2041 at an issue price of 100.000%. The notes pay a fixed annual coupon of 5.803% from July 23, 2026 to July 23, 2036, with semi-annual interest on January 23 and July 23.
From July 23, 2036 to maturity, the interest rate resets to the five-year U.S. Treasury constant-maturity rate (CMT) plus 1.250%, payable semi-annually. The notes are unsecured and deeply subordinated, ranking junior to all Senior Indebtedness; as of December 31, 2024, senior obligations on a non-consolidated basis totaled about $312.5 billion.
The issuer may redeem the notes at a make-whole price on or after July 23, 2031 and before July 23, 2036, and at par on the First Par Call Date of July 23, 2036 and on or after January 23, 2041, in each case plus accrued interest and subject to required regulatory approvals. There is no sinking fund and holders generally cannot accelerate maturity except upon bankruptcy, reorganization or insolvency. Net proceeds of approximately $2,986,500,000 (after $13,500,000 of underwriting discounts and estimated $100,000 of expenses) will be contributed to JPMorgan Chase Holdings LLC for general corporate purposes.
JPMorgan Chase & Co. is offering $6,000,000,000 of senior unsecured notes, consisting of $2,500,000,000 fixed‑to‑floating rate notes due July 23, 2030, $3,000,000,000 fixed‑to‑floating rate notes due July 23, 2032, and $500,000,000 floating rate notes due July 23, 2030. All notes are issued at 100.000% of principal, are unsecured, unsubordinated obligations, and are not FDIC‑insured.
The 2030 fixed‑to‑floating notes pay a fixed 4.864% coupon semi‑annually from July 23, 2026 to July 23, 2029, then a floating rate of Compounded SOFR plus 0.845% quarterly to maturity. The 2032 fixed‑to‑floating notes pay a fixed 5.041% coupon semi‑annually from July 23, 2026 to July 23, 2031, then a floating rate of Compounded SOFR plus 1.015% quarterly to maturity. The 2030 floating rate notes pay a floating rate of Compounded SOFR plus 0.850% quarterly from July 23, 2026.
JPMorgan Chase may redeem the notes at specified times and prices, including make‑whole calls before the first par call dates and par redemptions thereafter. Underwriters purchase the notes at discounts between 0.250% and 0.350%, for total underwriting discounts of $18,000,000 and estimated net proceeds of $5,982,000,000, which will be contributed to JPMorgan Chase Holdings LLC for general corporate purposes, including funding subsidiaries, paying dividends, redeeming or repurchasing securities, and financing acquisitions or business expansion.
JPMorgan Chase Financial Company LLC is offering $618,000 of unsecured structured notes, fully and unconditionally guaranteed by JPMorgan Chase & Co., linked to the MerQube US Large-Cap Vol Advantage Index and maturing on July 18, 2031. The notes may be automatically called on scheduled Review Dates starting July 19, 2027 if the Index closes at or above the applicable Call Value, returning $1,000 plus a fixed Call Premium Amount per note; no further payments occur after a call.
If the notes are never called and the Final Index Value is below the 60.00% Barrier Amount, the maturity payment equals $1,000 plus $1,000 times the Index Return, so investors lose 1% of principal for every 1% the Index falls from its Initial Value of 4,336.84, and may lose all principal. The Index embeds a 6.0% per annum daily deduction and can employ up to 500% futures exposure, which can drag performance and increase volatility. The price to public is $1,000 per note, including $50 in selling commissions, while the issuer’s estimated value is $883.50 per $1,000 note.
JPMorgan Chase Financial Company LLC is offering $995,000 of auto callable contingent interest notes due July 20, 2032, linked to the MerQube US Large-Cap Vol Advantage Index and fully guaranteed by JPMorgan Chase & Co. Investors may receive a 17.55% per annum Contingent Interest Payment (1.4625% monthly) for each monthly review date when the Index is at or above 70% of the Initial Value; no interest is paid if the Index is below this Interest Barrier.
The notes can be automatically called quarterly starting July 15, 2027 if the Index is at or above the Initial Value, returning $1,000 per note plus any due interest. If not called, principal is protected only down to a Trigger Value at 50% of the Initial Value; below this, maturity payment is reduced one-for-one with the Index decline, and investors can lose most or all principal. The underlying Index uses leverage up to 500% and applies a 6.0% per annum daily deduction, which drags on performance. Price to public is $1,000 per note, with $9 in fees and an estimated value of $920.60 per $1,000 at pricing.
JPMorgan Chase Financial Company LLC is offering $206,000 of auto-callable structured notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are issued in $1,000 denominations, priced on July 15, 2026 and maturing on July 18, 2031.
The notes may be automatically called quarterly from July 19, 2027 onward if the Index is at or above the Call Value (100% of the Initial Value), paying back principal plus a preset Call Premium (starting at 20.500% of face and rising to 102.500% on the final Review Date). If not called, investors receive principal at maturity only if the Final Index Value is at or above the Barrier Amount (50% of the Initial Value of 4,336.84). Below the barrier, maturity payment is $1,000 + ($1,000 × Index Return), exposing investors to losses greater than 50% and up to total loss of principal.
The underlying 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 on Index performance versus a similar index without this charge. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and carry an estimated value of $881.50 per $1,000 note, below issue price due to fees, hedging costs and dealer compensation.
JPMorgan Chase Financial Company LLC plans to issue Buffered Return Enhanced Notes linked to the S&P 500 Futures Excess Return Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes offer at least 2.05x leveraged exposure to any positive index return at maturity and provide a 20.00% downside buffer. If the index falls more than 20.00%, losses accelerate at 1.25% of principal for each 1% decline beyond that threshold.
The notes pay no interest or dividends, are unsecured and unsubordinated, and are issued in minimum denominations of $10,000. The expected term runs from a pricing date on or about July 17, 2026 to a maturity date of July 22, 2031. If priced on the reference date, the estimated value would be about $960 per $1,000 principal amount, and at issuance it will not be less than $950, both below the price to public due to embedded costs and dealer compensation. Key risks include potential loss of some or all principal at maturity, the credit risk of JPMorgan Chase Financial and JPMorgan Chase & Co., limited or no secondary market liquidity, complex tax treatment, and structural risks specific to futures-based indices.
JPMorgan Chase Financial Company LLC is offering Capped Digital Barrier Notes linked to the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes provide unleveraged exposure to the Index with a 20.00% Contingent Digital Return and a maximum return of at least 85.00% (at least $1,850 per $1,000 note) if held to maturity.
If at maturity the S&P 500® closing level is at or above 80.00% of the Initial Value, investors receive the greater of 20.00% or the Index’s percentage gain, capped at the Maximum Return. If the Final Value is below the 80.00% Barrier Amount, the payout becomes fully exposed to Index losses, and investors can lose more than 20.00% and up to all principal. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and are not bank deposits or FDIC insured. The minimum denomination is $1,000. If priced on the reference date described, the estimated value would be about $958.40 per $1,000 note, and will not be less than $930.00 per $1,000 when finally set.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes due July 22, 2031, linked to the MerQube US Large-Cap Vol Advantage Index and fully guaranteed by JPMorgan Chase & Co. Investors receive a Contingent Interest Payment for each Review Date when the Index closes at or above 65.00% of the Initial Value, and the notes are automatically called if on any non-first, non-final Review Date the Index is at or above its Initial Value, with the earliest call date on January 19, 2027.
If the notes are not called, principal repayment at maturity depends on the Index level: full principal is repaid only if the Final Value is at or above the Trigger Value of 60.00% of the Initial Value; otherwise principal is reduced one-for-one with the Index decline, down to zero. The illustrative Contingent Interest Rate is at least 16.45% per annum paid quarterly, but interest is entirely contingent and may be zero over the life of the notes. The underlying Index employs a leveraged futures strategy on E-mini S&P 500 contracts with a 35% target volatility and is subject to a 6.0% per annum daily deduction, which systematically drags performance. The minimum denomination is $1,000, and the current estimated value is approximately $929.60 per $1,000 note, reflecting embedded selling, structuring and hedging costs, as well as issuer-specific funding rates. Payments are unsecured, unsubordinated obligations 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 offering Auto-Callable Trigger PLUS, unsecured structured notes linked to the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 stated principal amount and matures on August 3, 2028.
The notes pay no interest. If on the August 6, 2027 redemption observation date the index closes at or above its initial level, the notes are automatically redeemed for at least $1,096.50 per note (at least 109.65% of principal). If not redeemed and the final index value exceeds the initial value, investors receive $1,000 plus 125% of the index percent increase.
If the final index value is at or above the 80% trigger level but at or below the initial level, investors receive only their $1,000 principal. If the final index value is below the trigger level, repayment equals $1,000 multiplied by the index performance factor, producing a loss of more than 20% and up to 100% of principal. Any payment is subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and the notes will not be listed on any exchange.
JPMorgan Chase Financial Company LLC is offering $759,000 of Auto Callable Contingent Interest Notes, fully and unconditionally guaranteed by JPMorgan Chase & Co., at $1,000 per note. The notes pay a contingent interest rate of 14.15% per annum, due monthly only when the MerQube US Large-Cap Vol Advantage Index closes on a Review Date at or above 70.00% of the Initial Value (the Interest Barrier). Missed coupons can be paid later if the barrier is met.
The notes may be automatically called on specified Review Dates starting July 15, 2027 if the Index is at or above its Initial Value, returning principal plus due contingent interest and any unpaid coupons. If held to maturity without being called, principal is protected only down to a Trigger Value of 60.00% of the Initial Value; below this level, repayment is reduced one-for-one with the Index, and investors can lose most or all of principal. The underlying Index is highly engineered, uses up to 500% futures leverage and is subject to a 6.0% per annum daily deduction, which creates a persistent drag on performance.
The notes are unsecured, unsubordinated obligations of JPMorgan Financial, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. They will not be listed, so liquidity depends on JPMS making a market and secondary prices are expected to be below issue price. The estimated value at pricing is $938.10 per $1,000 note, reflecting selling commissions, hedging costs and internal funding assumptions. Complex U.S. tax treatment, including contingent coupons generally taxed as ordinary income and potential withholding for non-U.S. holders, is highlighted.
JPMorgan Chase Financial Company LLC is issuing $409,000 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 7.45% per annum Contingent Interest only when, on a Review Date, each index is at or above 70.00% of its Initial Value (the Interest Barrier). The issuer can redeem the notes early on specified Interest Payment Dates, beginning October 20, 2026.
At maturity on June 21, 2028, if not called and each index is at or above its 80.00% Buffer Threshold, investors receive principal plus the final Contingent Interest Payment. If the Least Performing Index ends below its Buffer Threshold, principal is reduced 1% for each 1% decline beyond the 20.00% Buffer Amount, with up to 80.00% loss of principal. The notes are offered at $1,000 per note, including $22.25 in fees and commissions, for issuer proceeds of $977.75 per note; the estimated value is $965.00 per $1,000, reflecting embedded costs and JPMorgan’s internal funding rate. The notes are unsecured, not FDIC insured, and subject to complex tax and withholding rules, particularly for non-U.S. holders.
JPMorgan Chase Financial Company LLC is issuing structured Callable Contingent Interest Notes due July 20, 2033, fully and unconditionally guaranteed by JPMorgan Chase & Co., with an aggregate principal amount of $596,000 and minimum denominations of $1,000. The notes pay a 9.00% per annum Contingent Interest, credited monthly, only for Review Dates when the closing level of each of the Dow Jones Industrial Average®, Russell 2000® Index and S&P 500® Index is at or above 70.00% of its Initial Value (the Interest Barrier).
The issuer may redeem the notes early, in whole, on specified Interest Payment Dates beginning January 21, 2027, paying $1,000 plus any due Contingent Interest, after which no further payments occur. If the notes are not redeemed early, principal repayment at maturity depends on the Least Performing Index: if its Final Value is at or above 60.00% of Initial (the Trigger Value), investors receive $1,000 plus any final Contingent Interest; if below, repayment is $1,000 plus $1,000 times the Least Performing Index Return, exposing investors to a loss of more than 40% and possibly all principal.
The price to public is $1,000 per note, including selling commissions of $7.50 and leaving issuer proceeds of $992.50 per note. The estimated value is $963.20 per $1,000 note, reflecting internal funding and hedging costs. The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., offer no participation in index gains or dividends, may be illiquid, and include complex U.S. tax and withholding outcomes for U.S. and Non-U.S. holders.
JPMorgan Chase Financial Company LLC is offering $503,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing on July 18, 2031 and fully guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Rate of 11.25% per annum (2.8125% quarterly) only for Review Dates when the Index is at or above 60% of the Initial Value (the Interest Barrier). The notes are automatically called, starting July 15, 2027, if on a Review Date (other than the first three and final) the Index is at or above the Initial Value, returning principal plus that period’s interest.
If not called, principal is protected only if the Final Index Value is at or above 50% of the Initial Value (the Trigger Value); otherwise, investors lose 1% of principal for each 1% Index decline, up to a total loss. The underlying 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 creates a drag on performance. The notes are unsecured, not FDIC insured, have limited liquidity, and their estimated value at pricing was $885.60 per $1,000, below the $1,000 issue price due to embedded costs.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked individually to the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on July 23, 2027 and have minimum denominations of $1,000.
Investors may receive a Contingent Interest Payment on each Review Date only if the closing level of each Index is at or above 70.00% of its Initial Value, the Interest Barrier. On Review Dates other than the first, second and final, if each Index closes at or above its Initial Value, the notes are automatically called, paying $1,000 plus that period’s contingent interest; the earliest possible call date is October 20, 2026.
If the notes are not called, and on the final Review Date the Final Value of each Index is at or above its Trigger Value (also 70.00% of Initial Value in the hypotheticals), investors receive $1,000 plus the final contingent interest. If any Index finishes below its Trigger Value, repayment is reduced by the full negative return of the Least Performing Index, exposing investors to substantial principal loss, up to a 100% loss of principal. The hypothetical Contingent Interest Rate is 10.10% per annum, with illustrative total interest of $101.00 over 12 periods on a $1,000 note, but payments are not guaranteed.
The notes are unsecured, unsubordinated obligations of JPMorgan Financial, subject to the credit risk of both the issuer and JPMorgan Chase & Co. The estimated value, if priced on the date shown, would be $978.70 per $1,000, and at pricing will not be less than $940.00 per $1,000, reflecting embedded selling commissions, hedging costs and issuer funding assumptions. The notes will not be listed, and secondary market prices are expected to be below the original issue price and sensitive to index levels, rates and credit spreads.
JPMorgan Chase Financial Company LLC is issuing $700,000 of Auto Callable Buffered Equity Notes linked to the S&P 500 Index, due July 18, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are automatically callable on July 21, 2027 if the Index is at or above a specified Call Value, in which case investors receive $1,000 plus a fixed $80 Call Premium per note and no further payments.
If not called, at maturity investors receive uncapped, unleveraged exposure to Index appreciation, return of principal if the Index decline is within the 30% Buffer Amount, and a buffered loss formula if the decline exceeds 30%, with a maximum loss of 70% of principal. The notes pay no interest or dividends and have minimum denominations of $1,000. The price to public is $1,000 per note, including $10.75 in selling commissions and $989.25 in proceeds to the issuer, while the estimated value is $973.90, reflecting embedded costs and an internal funding rate. Payments are unsecured and 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 offering $354,000 of callable contingent interest notes linked to the worst performer of the Nasdaq-100, Russell 2000 and S&P 500, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a 9.55% per annum contingent coupon (0.79583% monthly) only if on a Review Date each index is at or above 70% of its Initial Value, the Interest Barrier.
The issuer may redeem the notes early on specified interest payment dates starting January 21, 2027. If held to July 19, 2029 and not called, principal is fully repaid only if each index’s Final Value is at or above its 70% Trigger Value; otherwise repayment is reduced one-for-one with the decline of the Least Performing Index, potentially to zero. The notes are unsecured obligations exposed to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not listed, and may have limited or no liquidity. The estimated value of $951.90 per $1,000 note is below the $1,000 issue price due to selling commissions, hedging costs and issuer funding assumptions.
JPMorgan Chase Financial Company LLC is issuing Uncapped Accelerated Barrier Notes due July 18, 2031, linked to the lesser performing of the Dow Jones Industrial Average and the S&P 500 Index. The notes offer 1.3825x any positive return of the lesser performing index at maturity, with no upside cap, based on $1,000 minimum denominations.
If either index finishes below its Barrier Amount of 70% of its Initial Value, investors lose 1% of principal for each 1% decline in the lesser performing index, up to a total loss. If both indices stay at or above their barrier levels but not above initial levels, principal is returned. The notes pay no interest or dividends and are unsecured obligations of JPMorgan Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., subject to both entities’ credit risk.
The total offering size is $597,000 at $1,000 per note, with selling commissions of $10.75 per note. The issuer’s estimated value is $969.60 per $1,000, below the issue price, reflecting selling, structuring and hedging costs, and an internal funding rate that may reduce secondary-market values.
JPMorgan Chase Financial Company LLC is offering structured Review Notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a scheduled maturity on July 31, 2031 and minimum denominations of $1,000.
On each of 17 Review Dates starting August 2, 2027, if the Index closing level is at or above the applicable Call Value, the notes are automatically called for $1,000 plus a Call Premium that steps up from at least 18.00% of principal on the first Review Date to at least 90.00% on the final Review Date. If never called and the Final Value is below the Barrier Amount of 50.00% of the Initial Value, repayment at maturity equals $1,000 plus $1,000 × Index Return, so investors lose 1% of principal for each 1% Index decline and can lose all principal.
The underlying Index is a leveraged, rules-based strategy on E-mini S&P 500 futures that targets 35% implied volatility with exposure between 0% and 500%, and is subject to a 6.0% per annum daily deduction, which drags performance versus an otherwise identical index. The indicative estimated value is about $928.90 per $1,000 note, and will not be less than $900.00 per $1,000 at pricing. 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, so liquidity may be limited.
JPMorgan Chase Financial Company LLC is offering Uncapped Dual Directional Accelerated Barrier Notes linked to the lesser performing of the STOXX® Europe 600 Index and the EURO STOXX 50® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co., in minimum denominations of $1,000.
At maturity on July 24, 2031, if both indices are above their Initial Values, investors receive principal plus the lesser index’s return multiplied by an Upside Leverage Factor of at least 1.9945. If either index is at or below its Initial Value but both remain at or above 65.00% of Initial Value (the Barrier Amount), investors receive principal plus the absolute percentage decline of the lesser-performing index, capped at 35.00%, for a maximum of $1,350 per $1,000 when the lesser index has fallen 35%.
If either index finishes below its Barrier Amount, repayment is fully at risk: investors lose 1% of principal for each 1% decline of the lesser-performing index from its Initial Value and can lose their entire investment. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., may be accelerated upon certain legal or regulatory changes, and are not expected to be listed, so liquidity will rely on dealer trading. The indicative estimated value is about $967.10 per $1,000, and will not be less than $930.00 per $1,000 when set, reflecting embedded costs and hedging.
JPMorgan Chase Financial Company LLC is offering Enhanced Jump Securities with Auto-Callable Feature due August 5, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co. These unsecured, unsubordinated notes are principal at risk securities linked to the worst performing of the Russell 2000® Index, S&P 500® Index and Nasdaq-100 Index®.
The notes have a $1,000 stated principal amount and issue price per security. They pay no periodic interest. On any of 16 determination dates before maturity, if the closing level of each index is at or above its initial level, the notes auto-call for an early redemption payment that corresponds to at least 10.70% per annum, starting at least $1,107.00 on the first determination date and rising to at least $1,508.25 by the 16th.
If not redeemed early, and on the final determination date each index is at or above 80% of its initial level (its downside threshold level), investors receive a maturity redemption payment corresponding to at least approximately 10.70% per annum, or at least $1,535.00 per security. If any index finishes below its downside threshold, the maturity payment equals $1,000 times the index performance factor of the worst-performing index, exposing investors 1-to-1 to that decline; the payment can be less than 80% of principal and may be zero. Investors do not participate in any index appreciation, and all payments are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing is expected to be about $942.50 per $1,000, and will not be less than $920.00.
JPMorgan Chase Financial Company LLC is offering unsecured Market-Linked Notes tied to a basket of five international equity indices, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay no interest and have a stated principal amount of $1,000 per note, maturing on August 6, 2031, with a valuation date of July 31, 2031.
At maturity, if the final basket value exceeds the initial basket value (set to 100 on the pricing date), investors receive $1,000 plus a supplemental redemption amount equal to $1,000 × participation rate × basket percent increase. The participation rate is at least 123%, to be set on the pricing date. If the final basket value is less than or equal to the initial basket value, investors receive only the $1,000 principal, so principal is repaid in full at maturity, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
The basket weights are 40.00% EURO STOXX 50® (SX5E), 25.00% TOPIX® (TPX), 17.50% FTSE® 100 (UKX), 10.00% Swiss Market Index (SMI) and 7.50% S&P/ASX 200 (AS51). The issue price is $1,000, including distribution-related costs and hedging profits, and the estimated value would be approximately $949.50 per $1,000 note if priced on the reference date, with a minimum estimated value on the pricing date of $920.00. The notes will not be listed on any securities exchange and are expected to be treated as contingent payment debt instruments for U.S. federal income tax purposes.
JPMorgan Chase Financial Company LLC is issuing $998,000 of unsecured structured notes fully and unconditionally guaranteed by JPMorgan Chase & Co., linked individually to the Dow Jones Industrial Average, Nasdaq-100 Index and Russell 2000 Index, and maturing on July 18, 2031.
The notes may be automatically called on scheduled Review Dates starting July 19, 2027 if each Index is at or above its Call Value (100% of its Initial Value), paying $1,000 plus a call premium of 10.650%–53.250% of principal depending on the call date. If not called and each Final Index Value is at or above its Barrier Amount of 70% of Initial Value, investors receive principal at maturity.
If any Index’s Final Value is below its Barrier Amount, the payout per note is $1,000 + ($1,000 × Least Performing Index Return), exposing investors to more than 30% principal loss and potentially a total loss. The price to public is $1,000 per note, including $41.25 in fees, for issuer proceeds of $958.75 per note. The estimated value at pricing is $929 per $1,000, reflecting internal funding and hedging costs, and the notes pay no interest or dividends and carry the credit risk of both the issuer and guarantor.
JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated structured notes, fully and unconditionally guaranteed by JPMorgan Chase & Co., linked to the least performing of the Dow Jones Industrial Average®, the Russell 2000® Index and the VanEck® Semiconductor ETF. The notes have a scheduled maturity on July 25, 2031 and may be automatically called as early as July 26, 2027 if on any Review Date the closing value of each underlying is at or above its Call Value, set at 100.00% of Initial Value. Upon an automatic call, investors receive $1,000 plus a fixed Call Premium Amount that starts at at least 17.8500% of principal and steps up to at least 89.2500% on the final Review Date.
If the notes are not called and on the final Review Date each underlying is at or above its Barrier Amount of 60.00% of Initial Value, investors receive principal only; otherwise, repayment is $1,000 plus $1,000 times the return of the least performing underlying, exposing holders to losses greater than 40% and potentially a full loss of principal. The notes pay no interest or dividends. Minimum denomination is $1,000. If priced on the reference date in the document, the estimated value would be approximately $919.20 per $1,000 principal amount, and when set will not be less than $900.00 per $1,000, reflecting selling commissions, hedging costs and issuer funding assumptions.
JPMorgan Chase Financial Company LLC is offering $1,200,000 of unsecured Callable Contingent Interest Notes due July 19, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a monthly Contingent Interest at 13.65% per annum (1.1375% per month) only if, on a Review Date, the closing level of each of the Dow Jones Industrial Average®, Nasdaq-100® Technology Sector and Russell 2000® Index is at or above 75% of its Initial Value (the Interest Barrier.
The issuer may redeem the notes early, in whole, on any Interest Payment Date from October 20, 2026 (except the first, second and final dates), paying $1,000 plus the Contingent Interest then due. If held to maturity and not redeemed, investors receive: (i) $1,000 plus any final Contingent Interest if the Final Value of each Index is at or above its 70% Trigger Value, or (ii) $1,000 + $1,000 × Least Performing Index Return if any Index finishes below its Trigger Value, resulting in loss of more than 30% and up to all principal.
Each note is issued at $1,000 (fees $5, proceeds $995), with an estimated value of $971.20. The notes are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., offer no principal protection, may pay no interest, will not be listed, and are expected to trade below the issue price.
JPMorgan Chase Financial Company LLC is offering $1,000,000 of unsecured Structured Investments Review Notes linked to the MSCI Emerging Markets Index, the S&P 500 Index and the TOPIX Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 denomination and matures on July 18, 2031, unless automatically called earlier.
On five annual Review Dates starting July 20, 2027, if the closing level of each Index is at or above its Call Value, the notes are automatically called for $1,000 plus a Call Premium ranging from 15.10% on the first Review Date up to 75.50% on the final Review Date. Payments depend on the worst performer, not on an average or basket.
If the notes are not called and on the final Review Date any Index closes below its Barrier Amount (70.00% of its Initial Value), investors receive $1,000 + ($1,000 × Least Performing Index Return), which can mean losing more than 30% and up to all principal. The estimated value at pricing was $953.60 per $1,000 note, below the $1,000 issue price, reflecting selling commissions, hedging costs and issuer funding assumptions. The notes pay no interest or dividends and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., market risk in three equity indices (including emerging markets and currency exposure) and limited liquidity.
JPMorgan Chase Financial Company LLC is offering $365,000 of structured Review Notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing July 18, 2031 and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called on any Review Date from July 16, 2027 onward if the Index is at or above the applicable Call Value, paying $1,000 principal plus a call premium based on a 15.00% annualized Call Premium Rate.
The notes pay no interest or dividends and expose holders to loss of a significant portion or all principal if not called and the Index finishes below the Barrier Amount; payoff at maturity is $1,000 plus $1,000 × Index Return. The Index takes leveraged exposure of up to 500% to E-mini S&P 500 futures while targeting 35% implied volatility and is reduced by a 6.0% per annum daily deduction, which drags performance. Issue price is $1,000 per note, including $50 in fees and commissions, with proceeds to the issuer of $950 per note; the estimated value at pricing was $886.10 per $1,000, reflecting selling costs and internal funding assumptions. Payments are unsecured and subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and there is no exchange listing, so liquidity may be limited.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the common stock of Broadcom Inc., in $1,000 denominations, fully and unconditionally guaranteed by JPMorgan Chase & Co. Payments depend on Broadcom’s share price and the issuers’ credit.
The notes pay a contingent interest rate of at least 20.60% per annum (5.15% per quarter) only for Review Dates when Broadcom’s closing price is at or above 60% of the Initial Value, with any missed coupons paid later if a barrier is met. The notes are automatically called, returning $1,000 plus due interest, if Broadcom closes at or above the Initial Value on any non-final Review Date.
If not called, and the final price is at or above the Trigger Value (also 60% of the Initial Value in the examples), investors receive full principal plus all due contingent interest. If the final price is below the Trigger Value, repayment is reduced one-for-one with the stock loss, up to total principal loss. The indicative estimated value is about $980.20 per $1,000 note (and will not be less than $950 at pricing), lower than the issue price due to selling commissions, hedging costs and other fees. The notes are unsecured, not FDIC-insured, pay no fixed interest or dividends, are not exchange-listed and may have limited or no secondary market liquidity.
JPMorgan Chase Financial Company LLC is offering Uncapped Dual Directional Barrier Notes due July 6, 2028, linked to the lesser performing of the Nasdaq-100 Index® and the S&P 500® Index. Each note has a $1,000 principal amount and is fully and unconditionally guaranteed by JPMorgan Chase & Co.
At maturity, if both indices finish at or above 71.25% of their Initial Values (the Barrier Amount), investors receive either uncapped 1.00x upside participation or a positive, capped return equal to the absolute value of any decline in the lesser index, up to 28.75%. If either index finishes below its Barrier Amount, principal is reduced 1% for each 1% decline in the lesser index, down to a total loss. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of both issuers, will not be listed, and are expected to price on or about August 3, 2026 and settle on or about August 6, 2026. An indicative estimated value is $982.70 per $1,000 note, with a final minimum estimated value of $900.00 per note.
JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes due July 26, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked to the lesser performing of the VanEck Gold Miners ETF (GDX) and the iShares Silver Trust (SLV), with payments based on each fund individually rather than a basket.
Investors may receive a Contingent Interest Payment of at least $10.4167 per $1,000 (at least 12.50% per annum, paid monthly) for any Review Date on which the closing price of one share of each fund is at or above 60.00% of its Initial Value, the Interest Barrier. The notes are automatically called if, on any specified Review Date starting January 21, 2027 (excluding the first five and final Review Dates), the closing price of one share of each fund is at or above its Initial Value; in that case, holders receive $1,000 plus the applicable contingent interest and no further payments.
If the notes are not called and at maturity either fund’s Final Value is below 60.00% of its Initial Value (the Trigger Value), the principal repayment is reduced one-for-one with the Lesser Performing Fund Return, and investors can lose more than 40% and up to all of their principal. The notes are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., are not FDIC insured, and may have limited or no liquidity. The estimated economic value is expected to be about $940 per $1,000, and in any case not less than $920 at pricing, below the price to public.
JPMorgan Chase Financial Company LLC is offering $3,406,000 of Medium-Term Notes, Series A, Capped Enhanced Participation Basket-Linked Notes due August 18, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and pays no interest.
The payout depends on an unequally weighted basket of five equity indices: EURO STOXX 50® 40%, TOPIX® 25%, FTSE® 100 17%, Swiss Market Index 11% and S&P/ASX 200 7%. Investors receive three times any positive basket return, subject to a cap level of 114.65% of the initial basket level and a maximum settlement amount of $1,439.50 per $1,000 note; downside is 1:1 with basket losses, so all principal can be lost. The estimated value at issuance is $995.00 per $1,000 note, reflecting structuring and hedging costs. Payments are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and the notes will not be listed or redeemable prior to maturity.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes due July 24, 2031, linked to the MerQube US Large-Cap Vol Advantage Index and fully guaranteed by JPMorgan Chase & Co. Investors may receive a monthly Contingent Interest Payment only when the index closes at or above 55.00% of the Initial Value (the Interest Barrier) on a Review Date.
The notes may be automatically called as early as July 20, 2027 if on a relevant Review Date the index is at or above its Initial Value, in which case investors receive $1,000 plus the applicable contingent interest and no further payments. If the notes are not called and the Final Value is below the Trigger Value (also 55.00% of Initial Value), principal is reduced 1% for every 1% index decline, down to zero.
The underlying index is a leveraged, rules-based strategy on E-mini S&P 500 futures, subject to a 6.0% per annum daily deduction, which creates a persistent drag versus an equivalent index without such fee. The indicative estimated value is about $931.20 per $1,000 note, and will not be less than $900.00 at pricing. The notes are unsecured, unlisted, and subject to the credit risk of both the issuer and guarantor, with significant liquidity, valuation, leverage and tax complexities highlighted in extensive risk factors.
JPMorgan Financial is offering Uncapped Accelerated Barrier Notes due August 4, 2031, linked to the lesser performing of the Dow Jones Industrial Average and the S&P 500 Index, in minimum denominations of $1,000, fully and unconditionally guaranteed by JPMorgan Chase & Co.
At maturity, if both indices finish at or above their Initial Values, investors receive $1,000 plus at least 1.45 times the appreciation of the lesser performing index. If either index is at or below its Initial Value but both remain at or above 75% of Initial Value (the Barrier Amount), principal is returned. If either index ends below its Barrier Amount, repayment is reduced 1% for each 1% decline of the lesser performer from its Initial Value, down to a possible total loss.
The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and are not bank deposits or FDIC insured. The indicative estimated value is approximately $970 per $1,000 note and will not be less than $950 per $1,000 at pricing, reflecting selling commissions, hedging costs and other fees.
JPMorgan Chase Financial Company LLC is offering $1,292,000 of Uncapped Buffered Digital Notes linked to the S&P 500® Futures Excess Return Index, due July 9, 2032, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay no interest. At maturity, investors receive a 55.00% Contingent Digital Return per $1,000 note if the Index is at or above its Initial Value of 604.15, or down by up to the 15.00% Buffer Amount. If the Final Value exceeds 155.00% of the Initial Value, investors also receive 3.70x any Index appreciation above the Contingent Digital Return. If the Index falls more than 15.00% below the Initial Value, principal is reduced 1% for each additional 1% decline, with losses up to 85.00% 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, including $5 in selling commissions, for proceeds to the issuer of $995 per note. The estimated value at pricing was $972 per $1,000 note, reflecting embedded costs, and the notes will not be listed, so secondary market liquidity and pricing may be limited.
JPMorgan Chase Financial Company LLC is offering uncapped accelerated barrier notes linked to the least performing of the Dow Jones Industrial Average, Nasdaq-100 Index and S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price on or about July 30, 2026, settle on or about August 4, 2026 and mature on August 4, 2031, in minimum denominations of $1,000.
At maturity, if each index finishes above its initial level, investors receive 1.825 times the Least Performing Index gain. If any index finishes at or above its 75% Barrier Amount but at or below its initial level, principal is returned. If any index closes below its barrier, principal is reduced 1% for each 1% decline of 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., and will not be listed. The indicative estimated value is about $970 per $1,000 note and will not be less than $950 per $1,000 at pricing. U.S. tax treatment is expected to follow an “open transaction” prepaid contract approach, and the issuer expects Section 871(m) withholding rules will not apply, both subject to confirmation.
JPMorgan Chase Financial Company LLC is offering 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 Contingent Interest Payment on each Review Date only if both indices close at or above an Interest Barrier equal to 75.00% of their Initial Values. The issuer may redeem the notes early, in whole but not in part, on certain Interest Payment Dates, with the earliest possible redemption on January 26, 2027.
If the notes are not redeemed early and the Final Value of each index is at or above its Trigger Value (also 75.00% of Initial Value), investors receive back the $1,000 principal plus the final Contingent Interest Payment. If the Final Value of either index is below its Trigger Value, the maturity payment is $1,000 plus $1,000 × Lesser Performing Index Return, so investors lose 1% of principal for each 1% decline in the lesser performing index and could lose their entire investment. The illustrative Contingent Interest Rate is 9.90% per annum (0.825% per month), and the estimated value is indicated at approximately $982.00 per $1,000 note, not less than $900.00 when set. The notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., will not be listed, may have limited or no liquidity, and offer no participation in index upside or dividends.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes due January 27, 2028, linked separately to the Nasdaq-100® Technology Sector and the Russell 2000® Index, and fully and unconditionally guaranteed by JPMorgan Chase & Co.
Investors receive a Contingent Interest Payment for each Review Date on which both indices close at or above 70.00% of their Initial Value, with a Contingent Interest Rate of at least 9.10% per annum. The notes are automatically called if, on any applicable Review Date after the second, both indices are at or above their Initial Value; the earliest auto-call date is October 22, 2026. If not called and either index finishes below its Trigger Value (70.00% of Initial Value), principal is reduced 1% for each 1% decline in the lesser-performing index, up to a total loss of principal. The indicative estimated value is about $961.20 per $1,000 note and will not be less than $900.00 at pricing, reflecting selling commissions, hedging costs and issuer funding assumptions.
JPMorgan Chase Financial Company LLC is offering Uncapped Accelerated Barrier Notes due August 4, 2031, linked to the lesser performing of the Nasdaq-100 Index® and the S&P 500® Index, in minimum denominations of $1,000. The notes provide an Upside Leverage Factor of 1.375, so if both indices finish above their initial levels, the payment at maturity increases by 1.375 times the percentage gain of the lesser performing index, with no cap.
The structure includes a Barrier Amount at 75% of each index’s Initial Value. If the final level of either index is at or above its barrier, principal is returned at maturity; if either ends below its barrier, investors lose 1% of principal for each 1% decline in the lesser performing index from its Initial Value, up to a total loss. The notes pay no interest or dividends and are unsecured, unsubordinated obligations of JPMorgan Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., and are subject to their credit risk.
The indicative estimated value is approximately $970 per $1,000 principal amount if priced on the date shown and will not be less than $950 per $1,000 when finalized, reflecting embedded selling, structuring and hedging costs. The notes will not be listed on an exchange, and secondary market prices are expected to be below the original issue price.
JPMorgan Chase Financial Company LLC is issuing $24,730,000 of Auto Callable Barrier Notes linked to the lesser performing of the S&P 500 Index and the Dow Jones Industrial Average, due July 17, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes may be automatically called quarterly from July 14, 2027 onward if each index closes above its Upper Call Value of 100% of its Initial Value, paying principal plus the interim return of the lesser performing index. If either index is at or below the Upper Call Value but both are at or above 84% (Lower Call Value), the notes are called at par.
If not called, investors receive at maturity the lesser performing index return if both final index levels exceed their Initial Values, par if both remain at or above the Barrier Amount of 80%, and a 1% loss of principal for each 1% decline of the lesser performing index below its Initial Value if either falls below its Barrier Amount. 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 of $981.30 per $1,000 at pricing.
JPMorgan Chase Financial Company LLC offers auto callable contingent interest notes due July 26, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked to the Dow Jones Industrial Average®, Nasdaq-100 Index® and S&P 500® Index, each treated separately, not as a basket.
The notes pay a Contingent Interest Payment on a Review Date only if the closing level of each index is at least 70.00% of its Initial Value (the Interest Barrier). From the second Review Date onward, if each index is at or above its Initial Value, the notes are automatically called and pay $1,000 plus that period’s contingent interest, ending further payments.
If not called, and at maturity each index is at or above its 80.00% Buffer Threshold, investors receive $1,000 plus the final contingent interest. If any index finishes below its Buffer Threshold, principal is reduced 1% for each 1% decline beyond the 20.00% buffer, up to an 80.00% loss of principal. The hypothetical contingent interest rate is 7.85% per annum, paid quarterly, and the estimated value, if priced today, is $971.70 per $1,000, with a minimum final estimated value of $900.00 per $1,000. The notes are unsecured, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and will not be listed, so liquidity may be limited.