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 Uncapped Buffered Return Enhanced Notes maturing on July 29, 2031, linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index. The notes are fully and unconditionally guaranteed by JPMorgan Chase & Co. and are unsecured, unsubordinated obligations subject to the credit risk of both entities.
At maturity, investors receive an uncapped leveraged upside of at least 1.90x any positive return of the least performing index. A 25.00% Buffer Amount protects principal against moderate declines, but if any index falls by more than 25.00%, principal is reduced 1% for each additional 1% decline in the least performing index, down to a minimum payment of $250 per $1,000 note (a 75.00% loss).
The notes pay no interest, provide no dividends or rights in index constituents, and will not be listed on any exchange, so liquidity depends on J.P. Morgan Securities LLC’s willingness to buy them. Minimum denomination is $1,000$989.40 per $1,000 note and, when set, will not be less than $950.00 per $1,000, reflecting structuring and hedging costs. The disclosure highlights potential conflicts of interest, secondary market price discounts, and complex U.S. tax treatment, including discussion of open transaction treatment and Section 871(m) for non-U.S. holders.
JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., is offering Capped Accelerated Barrier Notes linked to the least performing of the Dow Jones Industrial Average, the Russell 2000 Index and the S&P 500 Index, maturing on August 5, 2031.
Each $1,000 note provides 3.50 times any positive return of the Least Performing Index, up to a Maximum Return of at least 73.00%, and pays no interest or dividends. If all indices finish at or above 70.00% of their Initial Values, holders receive only their principal back at maturity.
If any index ends below 70.00% of its Initial Value, principal is reduced 1% for every 1% decline of the Least Performing Index, potentially to zero, and all payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co. The notes will not be listed, so liquidity may be limited. If priced today, the estimated value would be about $957.40 per $1,000 note and will not be less than $900.00 per $1,000 at pricing, reflecting embedded selling commissions of up to $41.25 and hedging and structuring costs.
JPMorgan Chase Financial Company LLC is offering Structured Investments Review Notes due August 5, 2030, linked to the lesser performance of the Dow Jones Industrial Average and the Nasdaq-100 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called on annual Review Dates starting August 4, 2027 if the closing level of each index is at or above 100% of its initial value, paying $1,000 plus a Call Premium of at least 12.10%, 24.20%, 36.30% or 48.40% of principal on the first through final Review Dates, respectively.
If the notes are not called, investors receive full principal at maturity only if the final level of each index is at or above 70% of its initial level. Otherwise, the payoff is $1,000 plus $1,000 times the return of the lesser-performing index, so a decline below the barrier can lead to losses greater than 30% and up to a total loss of principal. The notes pay no interest, provide no dividend rights, are unsecured and unsubordinated obligations of JPMorgan Financial, and any payment depends on the credit of both JPMorgan Financial and JPMorgan Chase & Co. The minimum denomination is $1,000, and the estimated economic value is expected to be below the $1,000 issue price because of selling commissions, a possible $6.50 structuring fee and hedging-related costs.
JPMorgan Chase Financial Company LLC is offering Uncapped Accelerated Barrier Notes linked to the S&P 500® Futures Excess Return Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes, in $1,000 denominations, are expected to mature on July 25, 2031 and pay no interest. At maturity, if the Index has risen, investors receive an uncapped payoff of at least 2.01 times any positive Index Return. If the Final Index Value is between 70.00% and 100.00% of the Initial Value, principal is returned.
If the Final Value is below the 70.00% Barrier Amount, principal loss is linear with the Index decline, up to a total loss. The notes are unsecured obligations subject to the credit risk of both issuers. An illustrative estimated value is $934.20 per $1,000 note, and the final estimated value will not be less than $900.00, which is lower than the price to the public due to commissions, hedging costs and issuer profit. Key risks include potential loss of all principal, exposure to futures-related effects such as volatility and negative roll returns, lack of listing and uncertain tax treatment.
JPMorgan Chase Financial Company LLC is offering Uncapped Buffered Return Enhanced Notes with a $1,000 principal amount per note, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked to the S&P 500® Futures Excess Return Index and are scheduled to mature on July 29, 2031.
At maturity, investors receive leveraged upside of at least 1.7585x any positive Index Return, with no cap. A 20.00% buffer protects against moderate declines, but if the Index falls by more than that, investors lose 1% of principal for each additional 1% drop, up to a maximum loss of 80.00%. The notes pay no interest and expose holders to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.
The notes will be sold in minimum denominations of $1,000. If priced on the date assumed, the estimated value would be about $938.00 per $1,000 note, and at pricing it will not be less than $900.00, reflecting selling commissions, hedging costs and an internal funding rate. The notes will not be listed on any exchange, and secondary market liquidity, if any, will depend on J.P. Morgan Securities LLC. U.S. tax treatment is expected to follow prepaid financial contract treatment, and the issuer currently expects Section 871(m) withholding will not apply to non‑U.S. holders.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $4,250,000 of Capped Buffered Enhanced Participation Equity Notes linked to the S&P 500 Index, maturing on July 18, 2028. Each note has $1,000 principal, is offered at 100% of principal, with a 2.00% underwriting commission and 98.00% net proceeds.
The notes pay no interest. At maturity investors receive 2x the S&P 500 gain, capped at a $1,218.00 maximum per $1,000 note once the index reaches 110.90% of its initial level. Principal is protected only for index declines up to 10%; below the 90% buffer level, losses increase about 1.1111% for each additional 1% drop, down to possible total loss. Payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co. The bank’s estimated value was $975.70 per $1,000 note, and the notes are not listed on any exchange and involve uncertain U.S. tax treatment.
JPMorgan Chase Financial Company LLC is offering $250,000 of auto callable contingent buffered return enhanced notes linked to the Nasdaq‑100 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 face amount.
On the July 26, 2027 Review Date, if the index is at or above the Index Strike Level of 29,264.10, the notes are automatically called and pay $1,000 plus a 16.50% call premium on July 29, 2027. If not called, at the July 18, 2028 maturity investors receive leveraged upside of 1.50× any positive index return, full principal back if the index is up to 20.00% below the strike, and 1% principal loss for each 1% index decline beyond that buffer. The estimated value at issuance is $982.20 per $1,000 note, reflecting embedded costs and hedging.
JPMorgan Chase Financial Company LLC plans to issue auto callable contingent interest notes linked separately to the Russell 2000 Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature in July 2027 and are unsecured, unsubordinated obligations subject to the credit risk of both entities.
Investors receive a contingent interest rate of at least 8.40% per annum (2.10% per quarter) only for Review Dates when the closing level of each index is at or above an Interest Barrier of 60.00% of its Initial Value. The notes are automatically called, returning $1,000 per note plus that period’s interest, if on any non-final Review Date each index is at or above its Initial Value.
If the notes are not called, principal repayment at maturity depends on the lesser performing index and a “Trigger Event.” If, on any day in the Monitoring Period, either index closes below 60.00% of its Initial Value and the final level of that lesser index is below its Initial Value, investors receive $1,000 plus $1,000 times the lesser index return, risking substantial or total principal loss. If no Trigger Event occurs, or if both final index levels are at least equal to their Initial Values, investors receive full principal plus any final contingent interest.
The indicative price to public is $1,000 per note in minimum denominations of $1,000. If priced on the date illustrated, the estimated value would be approximately $984.00 per $1,000 note, and when finalized will not be less than $900.00 per $1,000 note, reflecting embedded selling commissions, hedging costs and structuring fees. The notes will not be listed on an exchange, may have limited or no secondary market, pay no dividends from the underlying indices and involve complex U.S. federal tax treatment, including potential 30% withholding on contingent interest for certain non-U.S. holders.
JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated Callable Contingent Interest Notes due July 29, 2030, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a monthly Contingent Interest Payment at a rate of at least 10.90% per annum (0.90833% per month) for any Review Date on which each of the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index closes at or above 70.00% of its Initial Value, the Interest Barrier.
The issuer may redeem the notes quarterly, in whole, at its option starting October 29, 2026. Upon early redemption, investors receive the $1,000 principal per note, plus the applicable contingent interest when the barrier condition is met, and no further payments. If the notes are not redeemed early, 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, set at 60.00% of its Initial Value.
If the notes are not redeemed and the Final Value of any index is below its Trigger Value, principal repayment is reduced in proportion to the negative return of the Least Performing Index, and investors can lose a substantial portion or all of their investment. If priced on the date described, the estimated value would be about $972.60 per $1,000 note, and the final estimated value will not be less than $900.00 per $1,000. The notes are not bank deposits, are not insured, are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not be listed on any securities exchange, so secondary market liquidity may be limited.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Auto Callable Contingent Interest Notes at $1,000 principal per note linked to the MerQube US Tech+ Vol Advantage Index. The notes pay a monthly contingent coupon at a rate of at least 10.20% per annum (0.85% per month) for each Interest Review Date on which the Index closes at or above 75.00% of its Initial Value, with any unpaid coupons accrued and paid once the barrier is met. The notes are automatically called on quarterly Autocall Review Dates if the Index is at or above its Initial Value, with the earliest call on July 28, 2027.
If not called, principal is protected only down to a Buffer Threshold of 80.00% of Initial Value; below that level at maturity, investors lose 1% of principal for each 1% Index decline beyond the 20% buffer, up to an 80% loss. The underlying Index targets 35% volatility using dynamic exposure of 0–500% to the Invesco QQQ Fund, but is reduced by a 6.0% per annum daily deduction and a notional financing cost, which drag on performance and cause it to trail a comparable index without such charges. The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., will not be listed, and may have limited liquidity. The indicative estimated value is about $911.50 per $1,000 note, and will not be less than $900.00 at pricing, below the price to public due to embedded costs.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering capped dual directional buffered equity notes maturing August 26, 2027, linked to the least performing of the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index.
The notes provide unleveraged upside to index gains or, if the least performing index falls by up to the 25.00% buffer, a positive return equal to that decline, both capped by a Maximum Upside Return of at least 8.80%. If the least performing index falls more than 25.00%, principal is reduced 1% for each additional 1%, for a potential loss of up to 75.00% at maturity.
The securities pay no interest or dividends, are unsecured obligations subject to the credit risks of JPMorgan Financial and JPMorgan Chase & Co., are issued in $1,000 minimum denominations, and had an illustrative estimated value of about $986 per $1,000 principal amount, below the price to public.
JPMorgan Chase Financial Company LLC is offering $3,825,000 of Medium-Term Notes, Series A, Digital Equity Notes due 2028 linked to the EURO STOXX 50® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount.
The notes pay no interest. At maturity on June 23, 2028, investors receive $1,187.60 per $1,000 note if the index’s final level is at least 85.00% of the initial level of 6,280.19, capping upside at about 18.76%. If the index falls more than 15.00%, principal is lost on a leveraged basis (about 1.1765% of principal lost for each 1% drop beyond the 15% buffer), up to a total loss.
The notes are unsecured obligations subject to the credit risk of JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co., are not bank deposits and are not FDIC-insured. They will not be listed, and JPMS is not obligated to make a market, so liquidity may be limited. The estimated value at pricing was $994.30 per $1,000 note, below the 100% issue price, reflecting structuring and hedging costs. U.S. tax treatment relies on an open-transaction, prepaid-contract analysis that the IRS could challenge.
JPMorgan Chase Financial Company LLC is offering $2,533,000 of Medium-Term Notes, Series A, Digital Equity Notes due December 17, 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, bears no interest, is not listed or redeemable, and is subject to JPMorgan credit risk. If the final index level on December 15, 2027 is at least 87.50% of the initial level of 7,543.59, holders receive a fixed $1,114.30 per $1,000 (an 11.43% capped gain. Below this “buffer” (a 12.50% decline), principal losses increase about 1.1429% for each additional 1% index drop, down to total loss at a zero index level.
The original issue price is 100% of principal, including a 1.44% selling commission, with net proceeds of 98.56% of principal to the issuer. The estimated fair value at pricing is $981.60 per $1,000 note, reflecting embedded selling, structuring and hedging costs and the issuer’s internal funding rate. Tax treatment is uncertain; counsel views the notes as open “prepaid financial contracts,” but the IRS could challenge this, and future guidance on prepaid forward contracts or Section 871(m) could adversely affect after-tax returns.
JPMorgan Chase Financial Company LLC is issuing $837,000 of Digital 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 notes offer a fixed 11.30% contingent digital return at maturity if the final level of each index is at least 75.00% of its initial value. If either index finishes below its barrier, repayment is $1,000 plus the return of the lesser performing index, so investors lose 1% of principal for every 1% decline and can lose more than 25% or all of their investment. The notes pay no interest, provide no dividends, are unsecured and unsubordinated 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, with an observation date of August 16, 2027 and maturity on August 19, 2027. The estimated value is $991.60 per $1,000 note, below the issue price due to structuring, hedging costs and projected profits. The notes will not be listed, and any secondary prices are expected to be lower than the issue price and driven by internal funding rates, hedging and market factors. U.S. tax counsel views the notes as prepaid financial contracts treated as “open transactions,” and expects Section 871(m) withholding not to apply to Non‑U.S. Holders, though the IRS could take a different view.
JPMorgan Chase Financial Company LLC is offering $650,000 of Uncapped Buffered Digital Notes linked to the lesser performing of the S&P 500 Index and Nasdaq-100 Index, maturing July 19, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes have a 10.00% Contingent Digital Return and a 15.00% buffer. If both indices are at or above their initial levels, or down by up to 15%, investors receive the greater of 10% or the lesser index return, uncapped. If either index falls by more than 15%, principal is reduced 1% for each 1% decline beyond the buffer, up to an 85.00% principal loss (minimum payment $150 per $1,000). The notes pay no interest, provide no dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not be listed on an exchange.
Denominations are $1,000, with a price to public of $1,000, selling commissions of $1.50 and issuer proceeds of $998.50 per note. The estimated value at pricing is $991.80 per $1,000, below the issue price due to selling, structuring and hedging costs. The issuer’s tax counsel treats the notes as prepaid financial contracts that are open transactions for U.S. federal income tax purposes, with potential future IRS guidance that could affect this treatment.
JPMorgan Chase Financial Company LLC is offering $1,585,000 of Uncapped Accelerated Barrier Notes linked to the least performing of the S&P 500 Index, the Dow Jones Industrial Average and the State Street Technology Select Sector SPDR ETF, due July 19, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are unsecured obligations in $1,000 denominations and pay no interest or dividends.
At maturity, if all three underlyings finish above their initial values (7,543.59 for the S&P 500, 52,508.27 for the Dow and $183.62 for the ETF on July 14, 2026), investors receive principal plus 1.70 times the gain of the worst performer. If any underlying is at or below its initial value but all stay at or above 70% of their initial levels, only principal is repaid. If any underlying closes below 70% of its initial value, repayment is reduced one-for-one with the decline of the worst performer, and principal can be fully lost. The price to public is $1,000 per note, including $29 in selling commissions, with an estimated economic value of $947.80 per $1,000, and secondary market liquidity is not assured. All payments are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $1,545,000 of Market Linked Securities, Series A, due July 19, 2029. The notes are auto-callable and linked to the worst performer of SoFi Technologies, Blackstone and Broadcom common stock.
The notes pay a monthly contingent coupon at 21.05% per annum only if the lowest-performing stock on a calculation day closes at or above its threshold price, set at 45% of its starting price ($8.3475 for SoFi, $56.052 for Blackstone, $175.0995 for Broadcom). Missed coupons can be paid later if the condition is met.
From January 2027 to June 2029, if the lowest-performing stock is at or above its starting price, the notes are automatically called at par plus the applicable coupons. If not called, maturity repayment of $1,000 per note occurs only if the lowest-performing stock’s final price is at or above its threshold; otherwise principal is reduced in line with that stock’s loss, so investors can lose more than 55%, up to their entire investment. The price to public is $1,000 per note, while the estimated value is $936.90, reflecting selling commissions and hedging and structuring costs.
JPMorgan Chase Financial Company LLC is offering $7,172,000 of Auto Callable Contingent Interest Notes linked to the lesser performing of the SPDR Gold Trust and the VanEck Gold Miners ETF, maturing January 19, 2027, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes can pay a monthly Contingent Interest Payment of $11.375 per $1,000 note (a 6.825% rate over the term, 1.1375% per month) for each Review Date when both funds close at or above 77.50% of their Strike Values. Automatic call can occur on specified Review Dates from October 13, 2026 if both funds are at or above their Strike Values, returning $1,000 plus the applicable interest, with no further payments.
If not called and each fund’s Final Value is at least its 77.50% Buffer Threshold, investors receive $1,000 plus the final interest payment; otherwise principal is reduced using a 22.50% Buffer Amount and a 1.29032 downside leverage factor, potentially causing substantial loss. The Strike Values set on July 13, 2026 were $367.13 for the SPDR Gold Trust and $73.37 for the VanEck Gold Miners ETF, and the estimated value at pricing was $992.60 per $1,000 note. The notes are unsecured, unsubordinated obligations of JPMorgan Financial, subject to the credit risk of both issuers, offer no principal protection or guaranteed interest, are not exchange-listed, and may trade below the issue price.
JPMorgan Financial, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the MerQube US Small-Cap Vol Advantage Index, maturing on July 21, 2031. The notes pay a contingent coupon of at least 12.00% per year (3.00% quarterly) only when the Index on a Review Date is at or above 50.00% of its Initial Value, which also serves as the Trigger Value for principal protection at maturity.
The notes may be automatically called as early as July 16, 2027 if the Index is at or above its Initial Value, returning $1,000 per note plus that period’s interest, with no further payments. If the notes are not called and the Final Value is below the Trigger Value, repayment is reduced one-for-one with the Index decline, and investors can lose most or all of their principal.
The underlying Index dynamically allocates up to 500% leveraged exposure to E-mini Russell 2000 futures to target 35% implied volatility, but is reduced each day by a 6.0% per annum deduction, which drags on performance. The indicative estimated value is about $930.90 per $1,000 note (not less than $910.00 at pricing), reflecting selling costs, hedging and an internal funding rate, and secondary market liquidity is expected to be limited.
JPMorgan Chase Financial Company LLC is offering Auto Callable Yield Notes linked to the Class A common stock of Palantir Technologies Inc., due January 21, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay at least 17.30% per annum, credited as at least 8.65% semiannually, as long as they remain outstanding.
The notes may be automatically called on January 15, 2027 or July 15, 2027 if Palantir’s closing share price on a review date is at or above the Strike Value of $133.76, returning $1,000 per note plus the applicable interest, with no further payments. If not called and the final share price on January 18, 2028 is at or above the Trigger Value of $80.256 (60% of the Strike Value), holders receive $1,000 plus the final interest payment.
If the notes are not called and the final share price is below the Trigger Value, principal is reduced 1% for every 1% decline from the Strike Value, so investors can lose more than 40% and up to all of their principal, despite receiving interest. The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated value is indicated at approximately $960 per $1,000 note currently, and will not be less than $950 when finalized, reflecting structuring and distribution costs.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the common stock of The Goldman Sachs Group, Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on July 27, 2028 and are issued in $1,000 denominations.
Holders may receive a contingent interest rate of at least 11.00% per annum, paid quarterly, but only for review dates when Goldman Sachs stock closes at or above 65% of its initial value; missed coupons can be paid later if the barrier is met. The notes are automatically called if, on specified review dates starting January 22, 2027, the stock closes at or above its initial value, returning principal plus applicable contingent interest.
If not called and the final stock price is below the 65% trigger, repayment of principal is reduced one-for-one with the stock decline and investors can lose their entire investment. The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The indicative estimated value is about $960 per $1,000 note, and will not be less than $940 at pricing; the notes will not be listed, and secondary liquidity and prices may be limited.
JPMorgan Chase Financial Company LLC is offering $2,492,000 of Capped Buffered Enhanced Participation Equity Notes due March 17, 2028, linked to the S&P 500 Index and fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount and pays no interest; return depends entirely on index performance from the July 14, 2026 trade date to the March 15, 2028 determination date.
If the S&P 500 rises, investors receive 2x the index gain up to a cap level of 109.22% of the initial level (7,543.59), with a maximum settlement of $1,184.40 per $1,000. A 10% downside buffer protects principal for index declines up to 10%, but beyond that losses are leveraged by about 1.1111x, and principal can be fully lost. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not listed, and may have limited liquidity. The original issue price includes a 1.69% selling commission, and the estimated value is $979.30 per $1,000, reflecting internal funding and hedging costs. U.S. tax counsel views the notes as prepaid open transactions, but the IRS could challenge this treatment; JPMorgan expects Section 871(m) withholding not to apply to Non-U.S. holders.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes, fully and unconditionally guaranteed by JPMorgan Chase & Co., linked individually to the Nasdaq-100, Russell 2000 and S&P 500 indices and maturing on January 26, 2028 in $1,000 minimum denominations.
Investors may receive monthly Contingent Interest Payments at a rate of at least 9.70% per annum only when each index is at or above 70.00% of its Initial Value (the Interest Barrier); if any index is below this level on a Review Date, no interest is paid for that period.
The notes are automatically called, as early as October 21, 2026, if on an applicable Review Date (other than the first, second and final) 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 is below 60.00% of its Initial Value (the Trigger Value), principal is reduced 1% for each 1% decline in the Least Performing Index, up to a total loss of principal.
The issuer estimates that, if priced on the referenced date, the value would be about $979.90 per $1,000 note, and the estimated value at pricing will not be less than $900. The notes are unsecured, subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., not listed, may be illiquid, and are not insured by the FDIC.
JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes due January 27, 2028 in $1,000 minimum denominations, linked to the least performing of the Nasdaq‑100, Russell 2000 and S&P 500 indices and fully guaranteed by JPMorgan Chase & Co.
Investors receive a Contingent Interest Payment on an Interest Payment Date only if, on the related Review Date, the closing level of each index is at least 70.00% of its Initial Value; the Contingent Interest Rate will be at least 8.70% per annum$981.30 per $1,000 note if priced on July 16, 2026 (and at least $900.00 at pricing), and are subject to detailed U.S. tax rules, including expected 30% withholding on Contingent Interest Payments to many non‑U.S. holders absent treaty relief.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering autocallable contingent coupon equity-linked notes tied to Boston Scientific common stock, maturing July 20, 2027. The notes pay a quarterly coupon of at least $45.30 per $1,000 (4.53% quarterly, up to at least 18.12% per annum) only when the stock closes at or above 65.00% of its initial $42.63 level on the relevant observation date, and may be automatically called if the stock is at or above that initial level.
If not called, principal is returned in full at maturity only when the final stock level is at or above 65.00% of the initial level; below that threshold, repayment tracks the stock and can fall to zero, so investors can lose their entire investment. The notes are unsecured obligations subject to the credit risk of both issuers, will not be listed, and have an estimated value between $960.00 and $970.00 per $1,000, below the 100.00% original issue price because it embeds selling commissions, hedging costs, dealer profits and platform or data fees.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured Uncapped Buffered Return Enhanced Notes linked to the S&P 500® Futures Excess Return Index, maturing on August 7, 2031. The notes seek an uncapped payoff of at least 2.14 times any positive Index return at maturity, with a 15.00% downside buffer.
Principal is fully repaid if the Index is flat or down by up to 15.00%; below that level, investors lose 1% of principal for each additional 1% Index decline, for a potential loss of up to 85.00% of principal, receiving as little as $150.00 per $1,000 note. The notes pay no interest, are issued in $1,000 minimums, and are expected to price on or about August 4, 2026 and settle on or about August 7, 2026.
If priced on the term-sheet date, the estimated value would be approximately $977.20 per $1,000, and will not be less than $900.00 per $1,000 when finalized. Key risks include the credit risk of JPMorgan Financial and JPMorgan Chase & Co., futures-related risks such as volatility and negative roll returns, lack of exchange listing and potentially limited liquidity, conflicts of interest, and uncertain U.S. federal tax treatment.
JPMorgan Chase Financial Company LLC is offering $785,000 of Uncapped Buffered Digital Notes linked to the lesser performing of the EURO STOXX 50® Index and the iShares® MSCI EAFE ETF, due July 9, 2032, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes target a fixed 55.00% Contingent Digital Return at maturity if each underlying finishes at or above its Initial Value, or down by up to the 15.00% Buffer Amount. If both underlyings exceed 155.00% of their Initial Values, investors also receive 2.75x any additional appreciation of the lesser performer above the 55.00% level. If either underlying falls more than 15.00% below its Initial Value, principal is reduced 1% for each additional 1% decline, with repayment as low as $150 per $1,000 note.
The notes pay no interest or dividends, are unsecured and unsubordinated obligations of JPMorgan Financial subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and will not be listed, so liquidity may be limited. The price to public is $1,000 per note, including $5 in selling commissions, with an estimated value of $974.60 per $1,000 note at pricing.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering Auto Callable Buffered Return Enhanced Notes linked to the EURO STOXX 50® Index. Each $1,000 note can be automatically called on July 28, 2027 if the index closes at or above the strike level.
If called, holders receive $1,000 plus a call premium of at least 12.65%. If not called and at maturity in July 2028 the index is above the strike, investors earn leveraged upside with an Upside Leverage Factor of at least 1.25. If the index is flat or down by up to the 20.00% buffer, principal is returned. Below the buffer, losses are amplified by a 1.25 Downside Leverage Factor and principal can be lost entirely.
The notes are unsecured obligations, not bank deposits or FDIC insured. Illustratively, if priced today the estimated value would be about $981 per $1,000, and when terms are set it will not be less than $970, reflecting selling, structuring and hedging costs. The issuer expects Section 871(m) dividend-equivalent withholding not to apply to Non-U.S. Holders, though the IRS could disagree.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., plans to offer auto callable buffered return enhanced notes linked to the EURO STOXX 50 Index. Each note has a $1,000 principal amount and may be automatically called on July 28, 2027 if the Index closes at or above the strike level, paying $1,000 plus at least a 14.00% call premium.
If not called, at maturity on July 20, 2028 investors participate in any positive Index return with at least a 1.25x Upside Leverage Factor, with no stated cap. A 15.00% buffer protects principal against moderate declines; beyond that, investors lose 1.17647% of principal for each additional 1% Index drop, up to total loss. The notes price at $1,000 but their estimated value would be about $980.80 per note, and will not be less than $970.00 when terms are set. Payments depend on the credit of the issuer and guarantor, and the notes are unsecured, unsubordinated obligations that are not bank deposits or FDIC-insured.
JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering Auto Callable Dual Directional Barrier Notes linked to the S&P 500 Index, maturing January 21, 2028, in $1,000 denominations.
The notes may be automatically called on the July 19, 2027 Review Date if the Index closing level is at or above the Call Value (100% of the Strike Value of 7,572.40). In that case, holders receive $1,000 plus a Call Premium Amount of at least $105.50 per note, and the investment ends.
If not called, and the Final Value on January 18, 2028 exceeds the Strike Value, investors receive $1,000 plus the full Index Return. If the Final Value is between the Strike Value and the Barrier Amount of 6,057.92 (80% of Strike), they receive $1,000 plus the Absolute Index Return, capped at a 20.00% gain, or $1,200 per $1,000 note. Below the Barrier, principal is reduced one-for-one with Index losses, up to total loss.
The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of the issuer and guarantor, and have an estimated value of about $984.70 per $1,000 note (not less than $950.00), lower than the price to public due to selling, structuring and hedging costs.
JPMorgan Chase Financial Company LLC is issuing $2,250,000 of Medium‑Term Notes, Series A, Digital Equity Notes due June 20, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount, is linked to the S&P 500 Index and pays no interest.
At maturity, investors receive $1,155.50 per $1,000 note if the S&P 500 final level is at least 87.50% of the initial level, capping the upside at 15.55%. If the index falls by more than 12.50%, principal is lost on a leveraged basis (buffer rate about 1.1429) and losses can reach 100%. The initial index level is 7,543.59; the issuer’s estimated value is $975.40 per $1,000, below the issue price, reflecting selling commissions of 1.95% and hedging and structuring costs. The notes are unsecured obligations of JPMorgan Financial, guaranteed by JPMorgan Chase & Co., are not FDIC insured, are not listed on any exchange, have no issuer call, and may have limited or illiquid secondary trading. Tax treatment is uncertain; counsel views them as prepaid financial contracts, and non‑U.S. holders are advised regarding Section 871(m) considerations.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $3,000,000 of Digital Barrier Notes linked to the lesser performing of the S&P 500 Index and the Dow Jones Industrial Average, maturing on July 14, 2031.
The notes pay no interest and do not provide dividends. At maturity, investors receive $1,460 per $1,000 note (a 46.00% Contingent Digital Return) if the final level of each index is at least 70.00% of its Strike Value. If either index finishes below its Barrier Amount, repayment is reduced 1% for each 1% decline of the lesser performing index from its Strike Value, leading to losses greater than 30% and possibly a total loss of principal. The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., will not be listed on any exchange, and may be difficult to sell. The price to public is $1,000 per note, including selling commissions of $6, while the issuer’s estimated value is $986.60 per $1,000 note.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Auto Callable Yield Notes linked separately to the State Street Financial Select Sector SPDR ETF (XLF) and The Progressive Corporation common shares (PGR), maturing on July 20, 2028. The notes pay at least 9.50% per annum in monthly interest as long as they remain outstanding.
The notes may be automatically called on review dates starting July 15, 2027 if each underlying’s closing value is at or above its strike ($56.56 for XLF; $205.22 for PGR), returning $1,000 plus interest. If not called, and on the final review date each underlying is at or above its trigger value, set at 65% of strike ($36.764 and $133.393), investors receive $1,000 plus final interest. If either finishes below its trigger, principal is reduced one-for-one with the decline of the lesser-performing underlying, so more than 35% and up to all principal can be lost. The notes are unsecured obligations of JPMorgan Chase Financial Company LLC, subject to the credit risk of both issuer and guarantor, have an indicative estimated value of about $980 per $1,000 note (and not less than $950 at pricing), and will not be listed, so liquidity and secondary pricing are uncertain.
JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to Occidental Petroleum common stock, due August 2, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co. Investors receive a Contingent Interest Payment only on Review Dates when OXY’s closing price is at or above 65.00% of the Initial Value, the Interest Barrier. If that condition is met, any previously unpaid contingent interest is also paid. The notes are automatically called on a non-first, non-final Review Date if OXY closes at or above its Initial Value, returning $1,000 per note plus current and unpaid interest and ending further payments.
If the notes are not called and the Final Value is at or above the Trigger Value (also 65.00% of the Initial Value), investors receive full principal plus the final and any unpaid interest. If the Final Value is below the Trigger, repayment equals $1,000 + $1,000 × Stock Return, so investors lose principal one-for-one with OXY’s decline and may lose their entire investment. The hypothetical Contingent Interest Rate is at least 10.50% per annum (2.625% per quarter), but interest may never be paid. The notes are unsecured, not FDIC insured, and subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The estimated value would be about $950 per $1,000 note if priced now and will not be less than $930 at pricing, below the $1,000 issue price because of selling, structuring and hedging costs; secondary market prices are expected to be lower than the issue price and liquidity may be limited.
JPMorgan Chase Financial Company LLC is offering $465,000 of Uncapped Buffered Return Enhanced Notes linked to the S&P 500® Futures Excess Return Index, due July 17, 2031, in minimum denominations of $1,000. The notes are unsecured, unsubordinated obligations fully and unconditionally guaranteed by JPMorgan Chase & Co.
At maturity, investors receive $1,000 plus 2.00x any positive index return, with no upside cap. If the index is flat or down by up to the 20.00% Buffer Amount, principal is returned. Below that threshold, investors lose 1% of principal for each additional 1% index decline, for up to an 80.00% loss (minimum payment $200 per $1,000).
The notes pay no interest, are not bank deposits and carry the credit risk of both the issuer and guarantor. Price to public is $1,000 per note, including $5 in selling commissions, for total proceeds of $462,675. The estimated value at pricing was $971.10 per $1,000, reflecting embedded costs for commissions, hedging and fees. The notes will not be listed, and secondary prices are expected to be below the issue price and sensitive to market, funding and credit factors. Tax counsel views the notes as prepaid financial contracts treated as “open transactions,” though future IRS guidance could change this outcome.
JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., is offering auto-callable review notes linked individually to the Dow Jones Industrial Average and the Nasdaq-100 Index, maturing on August 5, 2030, in minimum denominations of $1,000.
The notes may be automatically called on annual review dates starting August 4, 2027 if each index is at or above its 100% Call Value, paying $1,000 plus a Call Premium of at least 14%, 28%, 42% or 56% of principal, depending on the call year. If not called and on the final review date each index is at or above its 70% Barrier Amount, investors receive back principal at maturity.
If either index finishes below its Barrier Amount, repayment is reduced one-for-one with the Lesser Performing Index Return, so holders can lose more than 30% 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 have an estimated value of about $970.60 per $1,000, not less than $900 at pricing. They are not bank deposits or FDIC-insured.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $10,354,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing July 12, 2033.
The notes pay monthly contingent interest of 18.25% per annum (1% per month) only when the Index closes at or above a specified barrier percentage of the strike; otherwise no interest is paid. The notes are automatically called on quarterly review dates starting January 7, 2027 if the Index is at or above the strike, returning $1,000 per note plus the applicable interest and terminating further payments.
If not called, investors receive full principal at maturity only if the final Index level is at or above a defined trigger percentage of the strike; below that they lose 1% of principal for each 1% Index decline, potentially losing their entire investment. The underlying is a leveraged, volatility-targeted E-mini S&P 500 futures index with a 6.0% per annum daily deduction, which structurally drags on performance. The notes are unsecured, unsubordinated obligations of the finance subsidiary, guaranteed by JPMorgan Chase & Co., and are subject to their credit risk. The public price is $1,000 per note (including $8.50 in selling commissions), versus an issuer-estimated value of $921.80, and the notes will not be listed, so secondary liquidity and prices may be limited and below issue price.
JPMorgan Chase Financial Company LLC is offering $777,000 of unsecured, unsubordinated Review Notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co., with scheduled maturity on July 17, 2031 and potential automatic calls starting July 19, 2027.
The notes pay no interest; holders receive principal plus a fixed call premium if the index closes at or above its Call Value on a Review Date, otherwise repayment at maturity is protected only by a 15.00% buffer. If the index falls more than this, principal loss can reach 85.00%.
Index performance is reduced by a 6.0% per annum daily deduction and a notional financing cost on the QQQ Fund, so it will lag a comparable undeducted index. The price to public is $1,000 per note, while the issuer’s estimated value is $904, and the notes are expected to be illiquid and subject to JPMorgan credit risk.
JPMorgan Chase Financial Company LLC is offering $250,000 of callable Contingent Interest Notes, in $1,000 denominations, linked to the least performing of the Dow Jones Industrial Average®, the Nasdaq-100® Technology Sector and the Russell 2000® Index, fully guaranteed by JPMorgan Chase & Co.
Investors may receive a Contingent Interest Payment at 11.60% per annum (0.96667% per month) only when the closing level of each index on a Review Date is at or above 70% of its Initial Value; otherwise no interest is paid. If the notes are not redeemed early and any index finishes below its Trigger Value of 60% of Initial Value on the final Review Date, principal is reduced 1-for-1 with the index loss, up to a total loss of invested principal. The issuer may redeem the notes early on certain Interest Payment Dates starting October 19, 2026. The notes’ estimated value at pricing is $969.90 per $1,000, below the issue price, reflecting dealer commissions, hedging costs and issuer funding assumptions.
JPMorgan Chase Financial Company LLC is offering $1,000,000 of Auto Callable Contingent Interest Notes linked to Devon Energy common stock, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a Contingent Interest Rate of 11.90% per annum (2.975% quarterly) only for Review Dates when Devon’s share price is at or above 60% of the Strike Value.
The notes may be automatically called on any Review Date after the first, starting January 11, 2027, if Devon closes at or above the 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 is at least 50% of the Strike Value, investors receive $1,000 plus any final interest; if it is lower, principal is reduced one-for-one with the stock loss from the Strike Value, up to a total loss. The notes are unsecured obligations of JPMorgan Financial, guaranteed by JPMorgan Chase & Co., carry significant liquidity and credit risk, and were sold at $1,000 per note with an estimated value of $975.60.
JPMorgan Chase Financial Company LLC is issuing $864,000 of Callable Contingent Interest Notes due July 18, 2030, linked individually to the Dow Jones Industrial Average, Russell 2000 Index and S&P 500 Index and fully guaranteed by JPMorgan Chase & Co.
The notes pay a contingent coupon at 7.70% per annum (0.64167% monthly) only for Review Dates when each index closes at or above 75% of its initial level. Starting July 19, 2027, the issuer may redeem the notes on certain interest payment dates at $1,000 per note plus any due contingent interest.
If held to maturity and not redeemed, investors receive $1,000 per note plus final contingent interest if every index finishes at or above its 70% Trigger Value; if any index is below that level, repayment is reduced one-for-one with the decline of the worst index, risking loss of most or all principal. The notes are unsecured obligations subject to JPMorgan Financial and JPMorgan Chase & Co. credit risk. The issue price is $1,000 per note, the estimated value is $934.80, and proceeds to the issuer are $962.50 per note, and the notes are not listed, so liquidity may be limited.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the lesser performing common stock of Amazon.com, Inc. and Eli Lilly and Company at $1,000 per note, maturing on July 20, 2029.
The notes pay a contingent interest rate of at least 15.60% per annum, credited only for Review Dates when each stock closes at or above 70% of its Initial Value (the Interest Barrier); missed coupons can be paid later if conditions are met. Starting October 19, 2026, the notes are automatically called, returning $1,000 plus due interest, if on a Review Date (other than the first, second and final) each stock is at or above its Initial Value.
If the notes are not called and on the final Review Date either stock finishes below its Trigger Value (also 70% of Initial Value), repayment of principal is reduced 1% for each 1% decline of the lesser performing stock from its Initial Value, leading to losses of more than 30% and potentially all principal. The structure is an unsecured obligation subject to JPMorgan Financial and JPMorgan Chase & Co. credit risk. The estimated economic value is indicated at approximately $955.30 per $1,000 note today and will not be less than $900.00 at pricing, both below the issue price due to selling, structuring and hedging costs.
JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., is offering Capped Dual Directional Buffered Return Enhanced Notes linked to the least performing of the Dow Jones Industrial Average®, the Russell 2000® Index and the S&P 500® Index, maturing on September 3, 2027. Each unsecured, unsubordinated note has a $1,000 minimum denomination.
At maturity, if the worst‑performing index is above its initial level, holders receive $1,000 plus 1.25 times its gain, capped at a Maximum Upside Return of at least 17.40%. If all indices finish at or above their initial levels or are down by up to the 15.00% Buffer Amount, investors earn a positive return equal to the absolute decline of the worst index, up to 15%.
If any index falls by more than 15%, repayment is reduced 1% for each percentage point beyond the buffer, for a maximum loss of 85.00% and a minimum payment of $150 per $1,000 note. The notes pay no interest or dividends, will not be listed, and depend on the credit of JPMorgan Financial and JPMorgan Chase & Co. An indicative estimated value is $987.10 per $1,000, with the final estimated value at pricing to be at least $900. U.S. tax counsel expects treatment as prepaid financial contracts, though the IRS could challenge this.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured Auto Callable Accelerated Barrier Notes linked to the S&P 500® Index, due August 2, 2029, in $1,000 denominations.
The notes may be automatically called on August 3, 2027 if the Index closes at or above a Call Value, paying $1,000 plus a Call Premium of at least $110 per note. Otherwise, at maturity investors receive uncapped upside of 1.25 times any positive Index return.
If the notes are not called and the Final Value is at or above 70.00% of the Initial Value, principal is repaid; below this Barrier Amount, repayment is reduced 1% for every 1% the Index is below the Initial Value, down to a total loss of principal. The notes pay no interest or dividends, have an indicative estimated value of about $980 (not less than $900) per $1,000, and are subject to credit, valuation, tax and liquidity risks described in the risk disclosures.
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $951,000 of Auto Callable Contingent Interest Notes linked to the MerQube US Tech+ Vol Advantage Index, maturing July 17, 2031. Each note is issued at $1,000 with an estimated value of $941.30.
The notes pay a 14.05% per annum contingent coupon (1.17083% monthly) only when the Index is at or above 75.00% of its Initial Value; otherwise no interest is paid. They auto-call quarterly from July 14, 2027 if the Index is at or above the Initial Value, returning principal plus that period’s coupon. If not called, principal is protected only down to a 70.00% Buffer Threshold; below that level, investors lose 1% of principal for each 1% further decline, up to a 70.00% loss. The Index embeds a 6.0% per annum daily deduction and a notional financing cost (SOFR + 0.50% per annum), uses leverage up to 500% and may be underinvested, all of which can materially drag performance. The notes are unsecured, subject to JPMorgan Financial and JPMorgan Chase & Co. credit risk, are not listed, and secondary prices are expected to be below issue price.
JPMorgan Chase Financial Company LLC is offering structured “Review Notes” linked to the MerQube US Large-Cap Vol Advantage Index, maturing July 20, 2029 and fully guaranteed by JPMorgan Chase & Co. Each $1,000 note may be automatically called on nine review dates starting July 20, 2027 if the index closes at or above 90% of its initial level, returning principal plus a call premium starting at at least 22% and rising to at least 66%.
If never called and the final index level is at least 65% of the initial level, holders receive only principal. If the final level is below 65%, repayment is reduced one-for-one with the index return, so more than 35% and potentially all principal can be lost. The notes pay no interest or dividends and are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase.
The underlying index uses up to 500% leveraged exposure to E-mini S&P 500 futures and is reduced by a 6.0% per annum daily deduction, which drags performance and can cause declines even when futures are flat or modestly positive. The economic value is estimated at about $950 per $1,000 note, with a minimum of $920 at pricing, and secondary market liquidity and prices may be limited.
JPMorgan Chase Financial Company LLC is issuing structured Review Notes due July 19, 2029, fully and unconditionally guaranteed by JPMorgan Chase & Co., with a total offering size of $394,000. The notes are linked to the least performing of the Dow Jones Industrial Average®, the Nasdaq-100 Index® and the Russell 2000® Index.
The notes may be automatically called on review dates in 2027, 2028 or 2029 if each index closes at or above its Call Value (100% of its Initial Value), paying $1,000 plus a Call Premium of 12.45%, 24.90% or 37.35%, respectively. If not called, investors receive principal at maturity only if each index’s Final Value is at or above its Barrier Amount of 55.00% of Initial Value; otherwise, repayment is $1,000 plus $1,000 times the return of the least performing index, exposing investors to more than 45% and potentially 100% principal loss.
The notes pay no interest, provide no dividends on index constituents, are unsecured and unsubordinated, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The price to public is $1,000 per note, including $29 in fees, while the issuer’s estimated value is $951.10 per $1,000 note, and the notes are not expected to be listed, limiting liquidity.
JPMorgan Chase Financial Company LLC is issuing $333,000 of Callable Contingent Interest Notes linked to the lesser performing of the Nasdaq-100® Technology Sector and the S&P 500® Index, due July 19, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes pay a contingent interest rate of 11.00% per annum (0.91667% monthly) only for Review Dates when each index closes at or above 70% of its Initial Value, with unpaid coupons accruing if later barriers are met. The issuer may redeem the notes early, in whole, on any Interest Payment Date other than the first, second and final, starting October 19, 2026.
If held to maturity and not called, investors receive par plus any due contingent interest if each index’s Final Value is at or above its Trigger Value (also 70% of Initial Value). Otherwise, repayment is reduced by the decline of the lesser performing index, exposing investors to substantial principal loss. The notes are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., with an estimated value of $974.40 per $1,000 principal at pricing.
JPMorgan Chase Financial Company LLC is offering Uncapped Accelerated Barrier Notes linked to the lesser performing of the iShares MSCI EAFE ETF and the EURO STOXX 50 Index, maturing on August 7, 2031 and fully and unconditionally guaranteed by JPMorgan Chase & Co.
At maturity, if both underlyings finish above their initial values, holders receive $1,000 plus at least 2.04x any gain of the lesser performer. If either underlying finishes at or below its initial value but both remain at or above 60% of initial value, principal is returned. If either closes below the 60% barrier, principal is reduced 1% for each 1% decline of the lesser performer, down to total loss.
The notes pay no interest, provide no dividends or fund/index rights, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not be listed on an exchange. The price to public is $1,000 per note; if priced on the date shown, the estimated value would be about $958.40 and will not be less than $900.00 per $1,000 at pricing, reflecting selling commissions, structuring and hedging costs.
JPMorgan Chase Financial Company LLC is offering $1,000,000 of Auto Callable Contingent Interest Notes linked to Honeywell International Inc. common stock, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a quarterly contingent coupon at 12.65% per annum, or $31.625 per $1,000, whenever Honeywell’s closing price on a Review Date is at or above the Interest Barrier of 70.00% of the Initial Value ($155.876). Missed coupons accrue and are paid on a later date if the barrier is met. Starting January 14, 2027, the notes are automatically called if Honeywell closes at or above the Initial Value of $222.68, returning principal plus the applicable coupon and any accrued coupons.
If the notes are not called and the Final Value is at or above the Trigger Value (the same 70% level), holders receive $1,000 per note plus the final and accrued coupons. If the Final Value is below the Trigger Value, repayment equals $1,000 + $1,000 × Stock Return, so declines beyond 30% can cause substantial or total principal loss and no interest. The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial, subject to the credit risk of it and JPMorgan Chase & Co. The price to public is $1,000 per note, including $18.50 of fees, while the issuer’s estimated value is lower at $969.70. Other key considerations include lack of listing and limited liquidity, possible issuer acceleration upon certain Honeywell delisting events, no dividend rights on Honeywell shares and complex U.S. and non-U.S. tax treatment of contingent coupons.