JPMorgan Chase & Co. 424B Filings

JPMorgan Chase & Co. is offering callable fixed rate notes due July 21, 2056. The notes pay interest at 5.75% per annum, calculated on a 30/360 basis and paid in arrears on the 22nd calendar day of each month from August 22, 2026 through June 22, 2056 and on the Maturity Date.

JPMorgan may, at its option, redeem the notes in whole (but not in part) at par plus accrued interest on the 22nd calendar day of January and July of each year between January 22, 2031 and January 21, 2056, subject to business day and interest accrual conventions. The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits, are not insured by the FDIC or any governmental agency and are not obligations of, or guaranteed by, a bank. In a resolution of JPMorgan Chase & Co. under its preferred single point of entry strategy, losses would be borne first by equity holders and then by unsecured creditors, including holders of these notes, whose claims rank behind creditors of its subsidiaries. For eligible institutional and fee-based advisory accounts, the price to the public per $1,000 principal amount will be between $927.60 and $1,000, with indicative selling commissions of about $23.75 per $1,000, capped at $50. Special tax counsel believes the notes will be treated as fixed-rate debt instruments issued without original issue discount for U.S. federal income tax purposes.

JPMorgan Chase Financial Company LLC is offering Trigger Autocallable Contingent Yield Notes linked to the Class A stock of Palantir Technologies Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes have a principal of $10 each and total size of $2,353,000, with a term of about one year.

Investors receive a contingent quarterly coupon of 18.00% per annum (4.50% per quarter, $0.45 per note) only when Palantir’s closing price is at or above the Coupon Barrier of $64.52, which is 50.00% of the Initial Value of $129.04. The notes are automatically called if the stock is at or above the Initial Value on an observation date, returning principal plus that period’s coupon. If not called, and the Final Value is at or above the Downside Threshold of $64.52, principal is repaid with the final coupon; otherwise the maturity payment equals $10 × (Final Value / $129.04), exposing holders to substantial or total loss of principal.

The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not FDIC insured, are not exchange‑listed, and have an estimated value of $9.771 per $10 note, below the issue price.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the VanEck Gold Miners ETF, due June 29, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a monthly Contingent Interest Payment at a rate of at least 15.60% per annum (1.30% per month) for each Review Date on which the ETF closes at or above 80.00% of its Initial Value, the Interest Barrier.

On any Review Date other than the first, second and final, if the ETF closes at or above the Initial Value, the notes are automatically called and investors receive $1,000 per note plus the applicable interest; the earliest possible call date is October 26, 2026. If the notes are not called and the Final Value is at least 80.00% of the Initial Value, investors receive principal plus the final interest payment at maturity.

If the notes are not called and the Final Value is below the 80.00% Buffer Threshold, principal is reduced 1% for each 1% decline beyond the 20.00% Buffer Amount, for a maximum 80.00% loss of principal. The notes are unsecured, not listed, and subject to the credit risk of both JPMorgan entities, ETF tracking and sector concentration risks, currency and volatility risks, and complex U.S. tax and withholding treatment. The illustrative estimated value is about $975.70 per $1,000 note, and will not be less than $900.00 at pricing.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on July 25, 2031 and have minimum denominations of $1,000.

Investors may receive a Contingent Interest Payment at a rate of at least 12.05% per annum (1.00417% per month) for each Review Date on which the Index closes at or above 70.00% of its Initial Value (the Interest Barrier). The notes are automatically called, starting July 22, 2027, if on certain Review Dates the Index closes at or above the Initial Value, in which case investors receive $1,000 plus the applicable Contingent Interest Payment and no further payments.

If the notes are not called and the Final Value is below the 70.00% Buffer Threshold, repayment of principal is reduced 1% for each 1% Index decline beyond the 30.00% Buffer Amount, up to a 70.00% loss of principal. Index returns are reduced by a 6.0% per annum daily deduction and a notional financing cost, and the Index may employ leverage up to 500%. The estimated value is approximately $940.00 per $1,000 note today and will not be less than $900.00 per $1,000 at pricing, reflecting selling commissions and hedging-related costs, and all payments are subject to the unsecured credit of JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes linked individually to the Dow Jones Industrial Average, the Russell 2000 Index and the VanEck Semiconductor ETF, maturing on June 22, 2028 and fully guaranteed by JPMorgan Chase & Co.

The notes pay a contingent coupon of at least 23.75% per annum (1.97917% per month) only when the closing value of each underlying on a review date is at or above 65% of its Initial Value (Interest Barrier). Automatic call can occur as early as October 16, 2026 if each underlying is at or above its Initial Value, returning $1,000 per note plus that period’s coupon. If held to maturity and any underlying finishes below its 55% Trigger Value, repayment is reduced one-for-one with the decline of the least performing underlying, exposing investors to loss of most or all principal. The price to public is $1,000 per note, while the current estimated value is about $979.40 and will not be less than $900 at pricing. The notes are unsecured, unsubordinated obligations, not bank deposits or FDIC insured, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is issuing $250,000 of structured Capped Notes linked to the least performing of the S&P 500 Index, Nasdaq-100 Index and Russell 2000 Index, due January 13, 2028, in $1,000 denominations, fully and unconditionally guaranteed by JPMorgan Chase & Co. The price to public is $1,000 per note, including $14 in selling commissions, for net proceeds of $986 per note; the estimated value is $971.60 per $1,000.

At maturity, investors receive $1,000 principal plus an Additional Amount equal to $1,000 × the return of the Least Performing Index × a 100% participation rate, capped at $100 (a 10.00% maximum return). If any index finishes at or below its initial level, the Additional Amount is zero and investors receive only principal, subject to issuer and guarantor credit risk.

The notes pay no interest and provide no dividends from index constituents and are unsecured, unsubordinated obligations. They are not exchange-listed, so liquidity depends on dealer interest. U.S. tax treatment is as contingent payment debt instruments, requiring accrual of original issue discount based on a 4.14% comparable yield, and may involve additional considerations for non-U.S. holders under Section 871(m).

JPMorgan Chase Financial Company LLC is offering $7,828,000 of Callable Contingent Interest Notes linked to the Dow Jones Industrial Average, Nasdaq-100 Index and Russell 2000 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on July 15, 2030 and are issued in $1,000 denominations.

The notes pay a 9.75% per annum contingent coupon (0.8125% per month) only for Review Dates when each index closes at or above 70.00% of its Initial Value. The issuer may redeem the notes early, in whole, on specified Interest Payment Dates starting on July 15, 2027, paying $1,000 plus the applicable contingent interest.

If not redeemed early, principal repayment at maturity depends on the Least Performing Index. If each index’s Final Value is at or above its Trigger Value of 60.00% of Initial Value, investors receive $1,000 plus any final contingent interest. If any index finishes below its Trigger Value, the payoff is $1,000 + ($1,000 × Least Performing Index Return), so investors can lose a significant portion or all of principal. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., will not be listed, may trade below par, and have an estimated value of $963.20 per $1,000 at pricing.

JPMorgan Chase Financial Company LLC is offering $2,010,000 of Medium‑Term Notes, Series A, Digital Equity Notes due July 12, 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 does not bear interest.

The payoff depends on S&P 500 performance from the July 10, 2026 trade date to the July 10, 2028 determination date. If the final index level is at least 85.00% of the initial level of 7,575.39, holders receive a fixed $1,152.40 per $1,000 note (a capped return of 115.24%). If the index declines by more than 15%, principal is reduced on a leveraged basis at a buffer rate of approximately 1.1765x the excess decline, and holders could lose their entire investment.

The original issue price is 100.00% of principal, including a 2.00% selling commission; net proceeds to the issuer are 98.00%. The issuer’s estimated value is $975.60 per $1,000 note, reflecting embedded selling, structuring and hedging costs. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., will not be listed, have no redemption feature, and may trade at prices below the issue price. The U.S. federal income tax treatment is uncertain, and the notes are expected to be treated as open prepaid financial contracts for tax purposes.

JPMorgan Chase Financial Company LLC is offering Buffered Digital 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 run to September 3, 2027, with an observation date on August 31, 2027, minimum denominations of $1,000, and pricing expected on or about July 31, 2026.

At maturity, if each index is at or above its initial level or down by no more than the 15.00% Buffer Amount, investors receive principal plus a fixed Contingent Digital Return of at least 8.00%. If either index is down more than 15%, repayment is reduced 1% for each percentage point decline of the lesser-performing index beyond the buffer, up to a maximum 85.00% principal loss. The notes pay no interest, provide no dividends or equity rights, are unsecured obligations subject to the credit risk of both the issuer and guarantor, and are not bank deposits or FDIC insured. Liquidity may be limited, and any secondary-market price is expected to be below the issue price; the illustrative estimated value is approximately $971.30 per $1,000 note and will not be less than $900.00 when set.

JPMorgan Chase & Co. is offering callable fixed-rate notes due July 31, 2031. The notes pay 5.00% per annum, with interest paid in arrears each July 31 from 2027 through maturity, based on a 30/360 day-count and an unadjusted Interest Accrual Convention.

Starting July 31, 2028, and on the last calendar day of January and July through January 31, 2031, JPMorgan may redeem the notes in whole at par plus accrued interest. Each note has a principal amount of $1,000. The notes are unsecured, are not FDIC-insured, and in a resolution of JPMorgan Chase & Co. holders would absorb losses as unsecured creditors of the parent, junior to creditors of its subsidiaries and to priority and secured claims.

JPMorgan Chase & Co. is offering callable fixed rate notes due July 30, 2038 that pay 5.50% per annum. Interest is paid annually in arrears on July 31 for each $1,000 principal amount note, using a 30/360 day count, with principal plus accrued interest due at maturity if the notes are outstanding.

The notes are callable at JPMorgan’s option, in whole but not in part, on the last calendar day of January and July from July 31, 2028 through January 31, 2038 at par plus accrued interest. For eligible institutional and fee-based advisory accounts, the price to the public per note will be not lower than $972.60 and not greater than $1,000, with selling commissions generally around $18.00 per $1,000 note and capped at $42.50. The notes are unsecured obligations of JPMorgan Chase & Co., and in a resolution scenario holders, as unsecured creditors, could absorb losses after equity holders and behind certain creditors of JPMorgan’s subsidiaries.

JPMorgan Chase & Co. is offering callable fixed rate notes due July 31, 2031. The notes pay fixed interest at 5.10% per annum, calculated as $1,000 × Interest Rate × Day Count Fraction using a 30/360 day count, with interest payable in arrears each July 31 from 2027 to maturity. At maturity, holders receive the $1,000 principal per note plus accrued interest if the notes remain outstanding.

The issuer may redeem the notes in whole, but not in part, on the last calendar day of January and July from July 31, 2028 through January 31, 2031 at par plus accrued interest. For eligible institutional or fee-based advisory accounts, the price to the public will be between $987.60 and $1,000 per $1,000 note. Indicative selling commissions are approximately $2.00 per $1,000 note, capped at $12.50. The notes are unsecured obligations that would share in losses of JPMorgan Chase & Co. in a resolution scenario under its preferred “single point of entry” strategy and are treated as fixed-rate debt instruments without original issue discount for U.S. federal income tax purposes.

JPMorgan Chase Financial Company LLC plans to issue 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, maturing on July 25, 2031, offer an uncapped payoff of at least 2.025x any Index appreciation at maturity, with no interim interest payments and minimum denominations of $1,000.

The structure includes a 20.00% downside buffer: if the Index is flat or down by up to that amount, investors receive principal back. Losses resume beyond the buffer on a 1-for-1 basis, up to a maximum loss of 80.00% of principal if the Index falls to zero. If priced on the described date, the estimated value would be about $970.10 per $1,000 note, and at pricing it will not be less than $900.00, both below the issue price because of selling commissions, hedging costs and issuer profits.

The notes are unsecured, unsubordinated obligations subject to the credit risk of both issuing subsidiary and guarantor, will not be listed on an exchange, and may trade at secondary-market prices below the original issue price. Returns depend on a futures-based equity index, which introduces additional risks such as negative roll returns, potential trading disruptions and tracking differences versus the S&P 500 Index.

JPMorgan Chase Financial Company LLC is offering $11,490,000 of auto callable contingent interest notes linked to the Class A common stock of CrowdStrike Holdings, Inc., fully and unconditionally guaranteed by JPMorgan Chase & Co.

Holders may receive a Contingent Interest Payment of $55.45 per $1,000 note on each quarterly Review Date if the CrowdStrike share price is at or above the Interest Barrier of $93.59, which equals 50.00% of the $187.18 Initial Stock Price. Missed coupons can be paid later if a subsequent Review Date meets the barrier. The notes are automatically called if the stock closes at or above the Initial Stock Price on any non-final Review Date, returning $1,000 plus the applicable coupon and any unpaid coupons.

If the notes are not called and the Final Stock Price is at or above the $93.59 Trigger Level, investors receive $1,000 per note at maturity plus the final coupon and any unpaid coupons. If the Final Stock Price falls below the Trigger Level, repayment is reduced using $1,000 + ($1,000 × Stock Return), so investors can lose more than 50.00% and up to all principal. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated value at pricing was $977.80 per $1,000 note, below the $1,000 issue price because selling, structuring and hedging costs are included in the offering price.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co., and scheduled to mature on July 29, 2031. The notes are issued in $1,000 denominations and pay a Contingent Interest Payment for each Review Date only if the Index closes at or above 65% of its Initial Value; missed coupons may be paid later if the barrier is met on a subsequent Review Date.

Beginning on July 26, 2027, the earliest automatic call date, the notes are automatically called if, on specified Review Dates, the Index closes at or above a predefined Call Value, returning $1,000 plus applicable interest, but no further payments. Principal is protected only by a 15% buffer: if the notes are not called and the Final Value is below 85% of the Initial Value, investors lose 1% of principal for each 1% additional Index decline, up to an 85% loss.

The underlying Index dynamically adjusts exposure to the Invesco QQQ Fund between 0% and 500%, targets 35% implied volatility, and embeds a 6.0% per annum daily deduction plus a notional financing cost based on SOFR, which creates a drag versus an identical index without such charges. The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. If priced on the date of the example, the estimated value would be about $914.40 per $1,000 note; at pricing it will not be less than $900, reflecting selling commissions, hedging costs and dealer margins.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes due July 19, 2030, linked to the MerQube US Large-Cap Vol Advantage Index and fully guaranteed by JPMorgan Chase & Co. The notes pay a monthly Contingent Interest Payment only when the Index closes on a Review Date at or above 70% of its Initial Value. Starting January 19, 2027, the notes are automatically called if, on specified Review Dates, the Index closes at or above its Initial Value, returning $1,000 per note plus the applicable contingent interest.

If the notes are not called, principal is repaid in full only when the Final Index Value is at least 60% of the Initial Value; below that Trigger Value, repayment is reduced 1% for each 1% Index decline, down to zero. The underlying Index is a leveraged, rules-based strategy on E-mini S&P 500 futures that targets 35% implied volatility and applies a 6.0% per annum daily deduction, which creates a persistent drag so it will lag an otherwise identical index without this fee. If priced on July 14, 2026, the estimated value would be about $936.10 per $1,000 note and will not be less than $900.00 at pricing. Investors forgo dividends, fixed coupons and liquidity, face issuer and guarantor credit risk, and may receive no interest and lose most or all of their principal.

JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., is offering unsecured, unsubordinated Callable Contingent Interest Notes due June 23, 2028, linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index, in minimum denominations of $1,000.

The notes pay a contingent interest rate of at least 8.60% per annum (0.71667% per month) only if, on a Review Date, each index closes at or above 70.00% of its Initial Value (the Interest Barrier); otherwise no interest is paid for that period. On specified Interest Payment Dates from October 22, 2026, the issuer may redeem the notes early for $1,000 per note plus any due interest, ending all future payments.

If not redeemed early, at maturity investors receive $1,000 per note plus any final contingent interest if each index’s Final Value is at or above 60.00% of its Initial Value (the Trigger Value; principal is then fully repaid). If any index is below its Trigger Value, repayment is $1,000 plus $1,000 times the Least Performing Index Return, so investors lose more than 40% of principal and could lose it all. Upside is limited to the sum of contingent coupons; there is no participation in index gains. If priced today, the estimated value would be about $963.70 per $1,000 note, and the final estimated value disclosed at pricing will not be less than $900.00. The notes are not bank deposits, are not FDIC-insured, may have limited liquidity and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is offering structured Auto Callable Accelerated Barrier Notes linked to the S&P 500® Futures Excess Return Index, due July 24, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are issued in minimum denominations of $1,000.

The notes may be automatically called on July 27, 2027 if the Index closing level is at or above a specified Call Value, paying $1,000 plus a Call Premium Amount of at least $150.00 per note, with no further payments. If not called and held to maturity, the notes provide uncapped upside of 2.45 times any positive Index Return.

If the Final Value is at or above the Barrier Amount, set at 70.00% of the Initial Value, principal is repaid. If the Final Value falls below the Barrier Amount, repayment is reduced 1% for every 1% Index decline, down to a total loss of principal. The notes pay no interest, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and feature an estimated value that, in the example given, is approximately $971.30 per $1,000 principal amount and will not be less than $900.00 per $1,000 at pricing.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering 5-year, auto callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index. The index targets volatility with up to 500% exposure to a QQQ-based underlying asset, reduced by a 6.0% per annum daily deduction and a notional financing cost.

The notes pay a contingent interest rate of at least 11.40% per annum, credited quarterly at at least 2.85%, only when the index on a review date is at or above 60% of its initial level. Starting after the first year, if on a quarterly review date the index is at or above its initial level, the notes are automatically called at $1,000 plus that quarter’s interest. If held to maturity and not called, principal is repaid in full only if the final index level is at or above a 50% trigger; below this, principal is reduced 1-for-1 with index losses and can be entirely lost. The estimated value will be at least $880 per $1,000 note, and all payments are subject to the credit risk of the issuer and guarantor, limited liquidity, complex index behavior and tax uncertainty.

JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes due August 1, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked to the MerQube US Tech+ Vol Advantage Index, which uses leverage up to 500% and a 35% target volatility.

Holders receive a contingent interest rate of at least 11.40% per annum (2.85% quarterly) only on Review Dates when the Index is at or above 60.00% of its Initial Value. The notes are automatically called starting July 29, 2027 if, on certain Review Dates, the Index is at or above the Initial Value, returning $1,000 plus the applicable interest and ending further payments.

If not called, and on the final Review Date the Index is below 50.00% of the Initial Value, repayment is reduced 1-for-1 with the Index decline, and investors can lose most or all principal. The Index incurs a 6.0% per annum daily deduction plus a notional financing cost, dragging performance. The notes are unsecured, not listed, have an estimated value of about $897.20 per $1,000 (not less than $880 at pricing), and involve complex credit, liquidity, index, leverage and U.S. tax risks.

JPMorgan Financial is offering Uncapped Dual Directional Buffered Return Enhanced Notes due July 25, 2029, linked to the least performing of the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes target at least 1.375× any positive performance of the least performing index at maturity and, if that index is flat to down by up to 20.00%, repay principal plus a positive return equal to the absolute decline.

If the least performing index falls by more than 20.00%, investors lose 1% of principal for each additional 1% decline, up to a maximum loss of 80.00% (payment as low as $200 per $1,000 note). The notes pay no interest, provide no dividends from index constituents, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and will not be listed, so liquidity depends on dealer trading. If priced on the term sheet date, the estimated value would be about $984.10 per $1,000, and when finalized it will not be less than $900.00 per $1,000, reflecting selling commissions, hedging costs and dealer economics. The payoff is driven solely by the worst-performing index; stronger performance in the others does not offset a weak leg.

JPMorgan Chase Financial Company LLC is offering Uncapped Dual Directional Buffered Return Enhanced Notes due July 25, 2028, linked to the least performing of the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.

At maturity, the payoff depends on the Least Performing Index1.1725x the index gain. If it finishes up to 20.00% below its initial level, investors receive a positive return equal to the absolute decline, capped at a 20.00% gain.

If any index falls by more than 20.00%, investors lose 1% of principal for each 1% decline beyond the buffer, up to an 80.00% loss (minimum payment $200 per $1,000). The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not listed, and may be difficult to sell. The estimated value is indicated at approximately $984.10 per $1,000 today and will not be less than $900.00 at pricing, reflecting selling commissions, hedging costs and issuer funding assumptions.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering $500,000 of Capped Dual Directional Contingent Buffered Equity Notes linked to the Nasdaq-100 Index®. Each note has a $1,000 principal amount, a Strike Level of 29,727.10, a Valuation Date of July 22, 2027 and matures on July 27, 2027.

At maturity, if the Index is above the Strike, investors receive $1,000 plus the Index Return, capped at 12.56% (maximum $1,125.60 per note when the Index Return is positive). If the Index is below the Strike by up to the 25.00% Contingent Buffer, investors earn the Absolute Index Return, up to a 25.00% gain (maximum $1,250.00 per note when the Index Return is negative). If the Index falls more than 25% below the Strike, principal is exposed one-for-one to losses and can be fully lost.

The price to public is $1,000 per note, with an estimated value of $984 reflecting selling commissions, hedging costs and an internal funding rate. The notes are unsecured obligations of JPMorgan Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., are not bank deposits or FDIC insured, and may have limited or no secondary market liquidity. U.S. tax treatment is based on an “open transaction” prepaid contract approach, with potential future IRS guidance that could adversely affect investors, and the issuer’s tax counsel expects Section 871(m) withholding not to apply to Non-U.S. Holders.

JPMorgan Chase Financial Company LLC is offering Capped Buffered Return Enhanced Notes linked to the S&P 500 Index, maturing January 27, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes provide 2.00 times any positive Index return at maturity, capped at a total return of 15.00%.

Principal is protected only by a 10.00% buffer: if the Index is down 10.00% or less, holders receive par, but deeper losses reduce principal 1-for-1, up to a 90.00% loss if the Index falls 100.00%. The notes pay no interest, pass through no dividends, are unsecured obligations subject to the credit risk of both the issuer and guarantor, and will not be listed, so liquidity may be limited and secondary prices may be below the $1,000 issue price. If priced on July 13, 2026, the estimated value would be about $976.40 per $1,000 note, and at pricing it will not be less than $900.00, reflecting embedded selling commissions, hedging costs and other fees, and may differ from values published by dealers. U.S. tax treatment is expected to follow prepaid financial contract rules, but could change with future IRS guidance.

JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the lesser performing of the SPDR Gold Trust (GLD) and the VanEck Gold Miners ETF (GDX), maturing on January 19, 2027.

The notes can pay a monthly contingent coupon of at least $11.375 per $1,000 principal amount (at least 1.1375% per month, 6.825% over the term) if, on a review date, both funds close at or above 77.50% of their Strike Values, set at $367.13 for GLD and $73.37 for GDX. From October 13, 2026 (excluding the final review date), if both funds are at or above their Strike Values, the notes are automatically called at $1,000 plus that period’s coupon.

If not called, principal is buffered only against a decline of up to 22.50%; if the lesser-performing fund finishes below its Buffer Threshold, the maturity payment is reduced using a Downside Leverage Factor of 1.29032, so investors can lose some or all principal. If priced on the date referenced, the estimated economic value would be about $992.60 per $1,000 note, and the issuer states the final estimated value will not be below $970.00 per $1,000. All payments are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is issuing $1,285,000 of Uncapped Accelerated Barrier Notes linked to the lesser performing of the SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ, Series 1 (QQQ), fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note costs $1,000, with selling commissions of $6 and net proceeds of $994 per note. The notes mature on July 15, 2031, with an observation date of July 10, 2031, and minimum denominations of $1,000. If both funds finish above their respective Initial Values (SPY $754.95, QQQ $725.51), investors receive principal plus 1.405× the lesser fund’s price gain. If at least one fund is flat or down but both stay at or above 70.00% of Initial Value, principal is returned. If either fund closes below its 70.00% barrier, repayment is reduced one-for-one with the lesser performer, up to a complete loss of principal.

The notes pay no interest, provide no dividends, are unsecured and unsubordinated obligations of JPMorgan Chase Financial, and are subject to the credit risk of both the issuer and guarantor. They are not listed on any exchange, so liquidity will depend on J.P. Morgan Securities LLC making a market. The estimated value is $979.20 per $1,000 note, below the issue price due to embedded selling, structuring and hedging costs. Additional risks include potential early acceleration if a referenced fund is delisted or terminated, tracking and management risks of the ETFs, possible large losses if markets fall, and complex U.S. tax treatment, including potential application of constructive ownership and Section 871(m) rules.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is issuing $3,944,000 of Medium-Term Notes, Series A, Enhanced Participation Basket-Linked Notes due July 12, 2030. Each note has a $1,000 principal amount, is issued at 100% of principal, bears no interest and will not be listed or redeemable before maturity.

The notes are linked to 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%), with an initial basket level of 100 and an upside participation rate of 1.802. The maturity payment depends on the basket return: for positive returns, the payoff increases at the 1.802 upside participation rate; for negative returns, principal is reduced in line with the basket and investors can lose up to their entire investment. The estimated value is $948.40 per $1,000 note, below the issue price after including a 4.26% selling commission, hedging-related costs and dealer compensation. Payments are subject to the credit risks of both the issuer and guarantor, and the product involves complex tax treatment and valuation considerations highlighted in the risk and tax discussions.

JPMorgan Chase Financial Company LLC, fully and unconditionally guaranteed by JPMorgan Chase & Co., is offering Uncapped Dual Directional Digital Barrier Notes due July 31, 2031, linked to the lesser performing of the EURO STOXX 50 Index and the iShares MSCI EAFE ETF. The notes target investors seeking uncapped exposure to any appreciation of the lesser performing underlying at maturity, with a Contingent Digital Return of at least 65.50% if each final value is at or above its initial value.

If at least one underlying finishes below its initial value but both remain at or above 70.00% of initial value (the Barrier Amount), the notes repay principal plus the absolute decline of the lesser performer, capped at 30%, for a maximum of $1,300.00 per $1,000 note when returns are negative. If either underlying closes below its Barrier Amount, principal is reduced one-for-one with the lesser performer’s loss and the entire principal can be lost.

The notes pay no interest or dividends, are unsecured and unsubordinated obligations of JPMorgan Financial subject to the credit risk of both the issuer and guarantor, and are not bank deposits or FDIC insured. Minimum denomination is $1,000. If priced on the date described, the estimated value would be approximately $980.00 per $1,000 note and, when finalized, will not be less than $950.00 per $1,000, reflecting embedded structuring and hedging costs. The notes will not be listed on any securities exchange, which may limit liquidity, and may be subject to early acceleration upon specified legal, regulatory or fund-related events.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering 3-year notes linked to the MerQube US Tech+ Vol Advantage Index, with quarterly review dates after an initial 6‑month non‑call period. The Index can use up to 500% exposure to an unfunded position in the Invesco QQQ Trust, but its level reflects a 6.0% per annum daily deduction and a daily notional financing cost.

The notes can be automatically called if the Index is at or above 100% of its Initial Value on a review date, paying $1,000 plus a call premium of at least 9.8250% on the first review and up to at least 58.9500% on the final review. If not called and the Final Value is at or above a Barrier Amount of 60.00% of the Initial Value, investors receive only the $1,000 principal per note; if it is below the Barrier, repayment becomes $1,000 + $1,000 × Underlying Return, so investors lose more than 40% and could lose all principal. The estimated value when set will not be less than $900.00 per $1,000 note, and all payments depend on the credit of the issuer and guarantor, with no periodic interest, dividends, or voting rights.

JPMorgan Chase Financial Company LLC is offering Auto Callable Contingent Interest Notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are issued in $1,000 minimum denominations and are scheduled to mature on July 19, 2029.

Quarterly Contingent Interest Payments are made only if, on a Review Date, the Index closes at or above 70.00% of its Initial Value. The notes are automatically called, starting with the Review Date on July 16, 2027, if the Index is at or above the Call Value of 85.00% of the Initial Value, returning $1,000 plus that period’s interest, with no further payments.

If the notes are not called and the Final Index Value is below the Trigger Value of 50.00% of the Initial Value, repayment of principal is reduced one-for-one with the Index loss, down to zero. Investors may also receive no interest over the life of the notes. The Index uses leveraged exposure of up to 500% to E-mini S&P 500 futures, targets 35% volatility, and is subject to a 6.0% per annum daily deduction, which materially drags performance. If priced on the date shown, the estimated value would be about $941.30 per $1,000 note and will not be less than $920.00 at pricing, below the price to public.

JPMorgan Chase Financial Company LLC is offering Structured Investments Review Notes linked to the MerQube US Tech+ Vol Advantage Index, fully guaranteed by JPMorgan Chase & Co., with minimum denominations of $1,000 and scheduled maturity on August 2, 2029.

The notes pay no interest and are automatically called on any Review Date from January 29, 2027 onward if the Index is at or above 100.00% of its Initial Value, returning $1,000 plus a call premium rising from at least 9.825% to 58.95% of principal. If never called, and the Final Index Value is at least 60.00% of the Initial Value, investors receive principal at maturity; otherwise the payoff equals $1,000 plus $1,000 times the Index Return, exposing investors to losses greater than 40% and potentially all principal.

The Index embeds a 6.0% per annum daily deduction and a daily notional financing cost on its QQQ Fund exposure, which will drag on performance and cause it to trail an identical index without such deductions. The Index uses a 35% target volatility with dynamic exposure between 0% and 500%. The notes are unsecured, unsubordinated obligations subject to the credit risk of JPMorgan Chase Financial and JPMorgan Chase & Co. The indicative estimated value is approximately $908.80 per $1,000 note, and will not be less than $900.00 per $1,000 at pricing.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering 5-year, auto-callable notes linked to the MerQube US Large-Cap Vol Advantage Index, which applies a 6.0% per annum daily deduction and may use up to 500% exposure to E-Mini S&P 500 futures.

The notes have a $1,000 minimum denomination, daily review dates after an initial 12-month non-call period, and a barrier and final-date call level of 60% of the initial index value, with call premiums of at least 15%. The estimated value at pricing will be at least $870 per $1,000. If never called and the index ends below the barrier, repayment equals $1,000 plus $1,000 times the index return, so investors may lose more than 40% and up to all principal. All payments depend on the credit of the issuer and guarantor.

JPMorgan Chase Financial Company LLC is offering unsecured structured notes linked to the MerQube US Large-Cap Vol Advantage Index, fully guaranteed by JPMorgan Chase & Co. The notes have a final review date of July 29, 2031 and a scheduled maturity date of August 1, 2031, with a minimum denomination of $1,000.

After an initial one-year non-call period, the notes are reviewed quarterly and are automatically called if the index level is at or above its initial value, paying back principal plus a call premium that is at least 20.80% on the first review date and up to at least 104.00% on the final review date. If the notes are not called and the final index level is at least 50.00% of the initial value, investors receive principal at maturity; if it is below this barrier, repayment is reduced one-for-one with the index decline, potentially resulting in a total loss.

The index uses leveraged exposure of up to 500% to E-Mini S&P 500 futures and is reduced by a 6.0% per annum daily deduction. The estimated value at pricing will be at least $870 per $1,000 note. Payments depend on the credit of both the issuer and guarantor, and investors face risks including principal loss, lack of liquidity, complex tax treatment and conflicts of interest.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., offers unsecured structured notes linked to the MerQube US Tech+ Vol Advantage Index, which reflects an unfunded total-return position in the Invesco QQQ Trust minus a notional financing cost and a 6.0% per annum daily deduction.

The notes feature a 60.00% Barrier Amount and daily review dates for potential automatic call after an initial 12‑month non-call period. If on any review date the index level is at or above the Call Value of 100% of the Initial Value, the notes are automatically called at $1,000 plus a call premium based on a Call Premium Rate of at least 17.50%.

If not called and the Final Value is at or above the Barrier Amount on July 29, 2031, holders receive the $1,000 principal at maturity; if the Final Value is below the Barrier Amount, the payoff is $1,000 plus $1,000 times the Underlying Return, so a fall below the barrier produces losses greater than 40% and possibly a total loss of principal. The estimated value at pricing will not be less than $880.00 per $1,000 note. The notes pay no interest, offer capped upside via call premiums, and are subject to the credit risk of the issuer and guarantor, leverage and volatility drag in the index, hypothetical back-tested index history, potential conflicts of interest and limited secondary-market liquidity.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index, which uses leveraged E‑Mini S&P 500 futures exposure and applies a 6.0% per annum deduction to its level.

The notes, in $1,000 denominations, are scheduled to price on July 29, 2026 and, if not called, mature on August 1, 2031 with quarterly review dates. They pay a contingent interest rate of at least 11.40% per annum, or at least $28.50 per $1,000 each quarter, only when the Index on a review date is at or above the 60.00% Interest Barrier.

If on any applicable review date (other than the first, second, third and final) the Index closes at or above its Initial Value, the notes are automatically called and return $1,000 plus that quarter’s contingent interest, with no further payments. If never called and the Final Value is at or above the 50.00% Trigger Value, investors at maturity receive $1,000 plus any final contingent interest. If the Final Value is below the Trigger Value, repayment equals $1,000 plus $1,000 times the Index return, so investors lose more than 50.00% of principal and could lose it all. The estimated value when terms are set will be at least $870.00 per $1,000 note, and all payments depend on the credit of the issuer and guarantor.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is issuing 5-year, callable structured notes linked to the MerQube US Large-Cap Vol Advantage Index (MQUSLVA). The notes have a $1,000 minimum denomination and are subject to the credit risk of both entities.

The underlying index dynamically allocates 0–500% exposure to E-Mini S&P 500 futures and embeds a 6.0% per annum daily deduction. The notes feature quarterly review dates after an initial one-year non-call period. If on any review date the index is at or above the applicable call value (generally 100% of the Initial Value, and 60% on the final review date), the notes are automatically called and pay $1,000 plus a call premium that equates to at least 17.90% per annum, up to at least 89.50% at the final review.

If the notes are not called and the final index value is below the 60% Barrier Amount, repayment at maturity equals $1,000 plus the index return, so investors lose more than 40% of principal and could lose it all. The estimated value will be at least $870 per $1,000 at pricing, below the issue price, and there are no interest, dividend, or voting rights. The issuer highlights liquidity, tax, leverage, futures, and index methodology risks.

JPMorgan Chase Financial Company LLC is offering $17,618,000 of Auto Callable Dual Directional Buffered Return Enhanced Notes linked to the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes have a roughly two-year term, $1,000 denomination (minimum $10,000), and may be automatically called after about one year if the S&P 500 closing level is at or above the Initial Index Level of 7,575.39. If called, holders receive $1,000 plus a 9.95% call premium per note.

If not called, maturity payment depends on index performance. For gains, investors receive uncapped 1.50x leveraged upside. For declines up to the 20.00% Contingent Buffer, they earn a positive return equal to the Absolute Index Return, up to $1,200 per $1,000 if the index is down 20%. Below the buffer, principal is exposed one-for-one to further losses, potentially to zero. The notes pay no interest or dividends, are unsecured obligations subject to JPMorgan credit risk, may be illiquid, and have an estimated value of $980.30 per $1,000, below the issue price. Separately, JPMorgan has committed $900,000 in donations to Blue Star Families, independent of note sales.

JPMorgan Chase Financial Company LLC is offering $1,528,000 of Capped Buffered Equity Notes linked to the PHLX Semiconductor Sector Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes provide unleveraged upside exposure to the index with a Maximum Return of 38.00%, giving a maximum payment at maturity of $1,380 per $1,000 note. A 15.00% Buffer Amount protects principal against moderate declines, but if the Ending Index Level is more than 15.00% below the Index Strike Level, losses are amplified by a Downside Leverage Factor of 1.17647, so investors may lose some or all principal. The Index Strike Level is 13,151.909, the Valuation Date is January 11, 2027 and maturity is January 14, 2027. The price to public is $1,000 per note with no selling commissions disclosed, and the estimated value is $994.40 per $1,000, reflecting structuring and hedging costs. The notes pay no interest or dividends, are unsecured obligations subject to JPMorgan Financial’s and JPMorgan Chase & Co.’s credit risk, may be illiquid, and carry complex U.S. tax and withholding considerations.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is issuing Auto Callable Contingent Interest Notes linked to the common stock of KLA Corporation. Each note has a principal amount of $1,000 (minimum purchase $10,000) and matures on January 14, 2027, unless automatically called as early as October 9, 2026.

Holders receive a Contingent Interest Payment of $51.60 per $1,000 note on each Review Date only if KLA’s share price is at or above the Interest Barrier of $114.76, equal to 50.00% of the Stock Strike Price of $229.52. If the first Review Date price is at or above the Stock Strike Price, the notes are automatically called, paying $1,000 plus the applicable contingent interest.

If the notes are not called and KLA’s final price is at or above the Trigger Level (the same 50.00% barrier), investors receive full principal at maturity plus any due contingent interest; if it is below, they lose 2.00% of principal for every 1% KLA has fallen beyond that 50.00% decline, up to a total loss. The offering totals $500,000 at $1,000 per note, with proceeds to the issuer of $995 per note and an estimated value of $989.20, and payments depend on the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is offering structured notes in $1,000 denominations linked to the MerQube US Large-Cap Vol Advantage Index, maturing August 1, 2031 and fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes may be automatically called on scheduled Review Dates, starting July 30, 2027, if the Index closes at or above the applicable Call Value. In that case, investors receive $1,000 plus a call premium based on a Call Premium Rate of at least 15.00% per year-equivalent; upside is limited to these call payments, and no interest or dividends are paid.

If the notes are not called and the Final Value is below the Barrier Amount, repayment of principal is reduced one-for-one with the Index decline, so holders can lose a significant portion or all of their investment. The underlying Index applies a 6.0% per annum daily deduction and can use leverage up to 500% exposure to E-mini S&P 500 futures, creating drag, volatility and concentration risk. The notes are unsecured, not FDIC insured, subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., may be illiquid, and have an estimated value of about $884.30 per $1,000 at launch, below the price to public.

JPMorgan Chase Financial Company LLC is offering Structured Investments Review Notes linked to the MerQube US Large-Cap Vol Advantage Index, due August 1, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes may be automatically called from August 2, 2027 onward if the Index is at or above 100% of its Initial Value, paying $1,000 plus a Call Premium Amount that starts at least at 20.80% × $1,000 and increases up to at least 104.00% × $1,000.

The notes pay no interest and do not provide dividends. If they are not called and the Final Index Value is at least 50.00% of the Initial Value (the Barrier Amount), investors receive principal back; if it is lower, repayment equals $1,000 plus $1,000 × Index Return, so losses exceed 50% and may reach all principal. The Index dynamically allocates 0%–500% exposure to E-mini S&P 500 futures, targeting 35% implied volatility, and is reduced by a 6.0% per annum daily deduction, which drags performance versus an equivalent index without this charge.

Payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co. The notes are unsecured, unsubordinated, not FDIC-insured and will not be listed, so liquidity may be limited and secondary prices may be below the issue price. If priced on the described date, the estimated value would be approximately $882.50 per $1,000, and at pricing it will not be less than $870.00 per $1,000, reflecting selling commissions, hedging costs and issuer funding assumptions.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured Review Notes linked to the MerQube US Tech+ Vol Advantage Index and maturing August 1, 2031. The notes may be automatically called as early as July 30, 2027 if the Index closes at or above the Call Value on a Review Date, paying $1,000 plus a Call Premium Amount based on a Call Premium Rate of at least 17.50%.

If not called, holders receive $1,000 at maturity only when the Final Index Value is at or above a barrier; otherwise the payoff equals $1,000 plus $1,000 times the Index Return, so a large or total loss of principal is possible. The notes pay no interest, provide no QQQ Fund dividends, are not FDIC-insured and carry the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

The underlying Index is a leveraged, rules-based strategy targeting 35% volatility, with exposure to an unfunded total-return position in the Invesco QQQ Fund between 0% and 500%. Its performance is reduced by a 6.0% per annum daily deduction and a daily notional financing cost, causing it to trail an otherwise identical index. The indicative estimated value is approximately $897.80 per $1,000 note, and will not be less than $880.00 per $1,000 at pricing.

JPMorgan Chase Financial Company LLC is offering unsecured, auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index, due August 1, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes pay a quarterly Contingent Interest Payment when the Index is at or above 60.00% of its Initial Value (the Interest Barrier). The actual Contingent Interest Rate will be at least 11.40% per annum. Beginning with the fourth Review Date, the notes are automatically called if the Index is at or above the Initial Value, with the earliest possible call on July 29, 2027, returning $1,000 per note plus the applicable interest.

If not called, principal is protected only when the Final Value is at or above 50.00% of the Initial Value (the Trigger Value). Below that level, investors lose 1% of principal for each 1% Index decline, up to a total loss. The Index itself embeds a 6.0% per annum daily deduction and uses leveraged exposure of up to 500% to E-mini S&P 500 futures, which can significantly drag performance and increase volatility. The notes are not bank deposits, are not FDIC insured, and all payments are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. An indicative estimated value is $886.20 per $1,000 note, with a minimum of $870.00 to be set at pricing.

JPMorgan Chase Financial Company LLC is offering structured “Review Notes” linked to the MerQube US Large-Cap Vol Advantage Index, maturing on August 1, 2031 and fully guaranteed by JPMorgan Chase & Co. The notes pay no interest; investors receive $1,000 per note plus a Call Premium Amount if, on any of 17 scheduled Review Dates starting August 2, 2027, the Index closes at or above the applicable Call Value, triggering an automatic call.

If the notes are never called and the Index’s Final Value is at or above the 60.00% Barrier Amount, investors are repaid principal; if it falls below, repayment equals $1,000 plus $1,000 times the Index Return, causing losses greater than 40% and potentially a full loss of principal. The Index uses leveraged exposure of up to 500% to E-mini S&P 500 futures and is reduced by a 6.0% per annum daily deduction, which drags performance. An example estimated value is $884.10 per $1,000 note, with the actual estimated value at pricing not less than $870. The notes are unsecured, subject to the credit risk of both issuer and guarantor, and are expected to have limited secondary market liquidity.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing July 21, 2031.

The notes pay a Contingent Interest Payment only for review dates when the index closes at or above 70% of its initial level; the rate will be at least 14.50% per year, paid quarterly at 3.625%, while outstanding. From the fourth review date, the notes are automatically called if the index is at or above 85% of its initial level, returning $1,000 per note plus that period’s interest.

If not called, principal is protected only down to a Trigger Value of 50% of the initial index level; if the final level is below this, repayment is reduced one-for-one with the index decline, potentially to zero. The underlying index uses leveraged exposure of up to 500% to E-mini S&P 500 futures and applies a 6.0% per annum daily deduction, which drags performance. The estimated value is approximately $929.30 per $1,000 note, and all payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC is offering auto callable notes linked to the J.P. Morgan Multi-Asset Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on August 4, 2033, in minimum denominations of $1,000, pay no periodic interest and are unsecured, unsubordinated obligations subject to the credit risk of both entities. On Review Dates from August 4, 2027 through August 2, 2032, the notes are automatically called if the Index is at or above the applicable Call Value, paying $1,000 plus a call premium of at least 16.50% on the first Review Date, rising stepwise to at least 99.00% by the sixth.

If the notes are not called, at maturity investors receive $1,000 plus an Additional Amount equal to 100% of any positive Index Return; if the Index is flat or lower, only principal is repaid, with no adjustment for inflation. The underlying Index is a rules-based, multi-asset, futures-based “excess return” index with a 1.00% per annum daily deduction, dynamic momentum-driven allocation, a volatility threshold initially set at 4%, and the ability to take both long and short positions across equity, fixed-income and commodity futures.

The notes will not be listed, and liquidity depends on J.P. Morgan Securities LLC making a market, if at all. If priced on the date described, the estimated value would be approximately $924.30 per $1,000 note, and when finalized will not be less than $900.00, both below the price to public due to selling commissions, hedging costs and internal funding. Key risks include issuer and guarantor credit risk, limited upside if called early, potential acceleration upon certain hedging disruption events, sensitivity to the Index’s strategy and futures markets, and U.S. tax treatment as contingent payment debt instruments requiring accrual of original issue discount.

JPMorgan Chase Financial Company LLC is offering $4,000,000 of Uncapped Digital Barrier Notes linked to the least performing of the Nasdaq-100 Index, the Russell 2000 Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes mature on July 15, 2030 and are issued in minimum denominations of $1,000.

At maturity, if each index is at or above its initial level, investors receive principal plus the greater of a 66.00% Contingent Digital Return or the actual return of the worst index, with no upside cap. If any index is below its initial level but all remain at or above 80.00% of their initial levels (the Barrier Amount), only principal is repaid. If any index finishes below its barrier, repayment is reduced 1% for each 1% decline of the least performing index, down to a total loss of principal. The notes pay no interest or dividends, are unsecured obligations exposed to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and may be difficult to sell; the price to public is $1,000 per note, including a $6.50 selling commission, while the initial estimated value is $980.50 per note.

JPMorgan Chase Financial Company LLC is offering $28,259,000 of Buffered Digital Notes linked to the least performing of the Dow Jones Industrial Average, the iShares Russell 1000 Growth ETF and the State Street Utilities Select Sector SPDR ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes pay a fixed 8.85% Contingent Digital Return at maturity if each underlying ends at or above its Initial Value or not more than 25% below. If any underlying falls by more than 25%, principal is reduced by 1.33333% for every additional 1% decline, exposing holders to partial or total loss. The notes pay no interest or dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not listed on an exchange, and have an estimated value of $993.80 per $1,000 note, below the $1,000 issue price due to selling, structuring and hedging costs.

JPMorgan Chase Financial Company LLC is issuing $3,319,000 of Callable Buffered Return Enhanced Notes linked to the S&P 500® Futures Excess Return Index, due July 15, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The $1,000-denomination notes pay no interest. JPMorgan may redeem them early, in whole, on specified Optional Call Payment Dates from July 16, 2027 through June 13, 2031 at $1,000 plus a fixed Call Premium Amount that starts at 20% of principal and increases to 98.33333% on the final call date.

If not redeemed and the Index has risen, investors receive principal plus 2.55× any positive Index Return; if the Index is flat or down by up to the 20% buffer, principal is returned. If the Index falls by more than 20%, investors lose 1% of principal for each additional 1% decline, with up to 80% of principal at risk at maturity. The Initial Value was 606.46 on July 10, 2026. The notes are unsecured, not insured, subject to the credit risk of JPMorgan entities, may be illiquid, and have an estimated initial value of $964.80 per $1,000, below the issue price due to selling commissions, hedging costs and structuring margins.