JPMorgan (NYSE: JPM) sets Initial Value 4,180.83 for capped notes

Rhea-AI Filing Summary

JPMorgan Chase Financial Company LLC amends a pricing supplement for its Capped Buffered Equity Notes linked to the MSCI World, fully and unconditionally guaranteed by JPMorgan Chase & Co. The amendment sets the Initial Value — the closing level of the Index on the Pricing Date — at 4,180.83. The notes mature on September 30, 2027 and carry CUSIP 46660RFW9. The amendment directs readers to the March 27, 2026 pricing supplement and related product and prospectus materials for detailed terms and risk factors.

Insights

Structured Products Analyst

Sets the reference level investors will be measured against at maturity.

The amendment fixes the Initial Value at 4,180.83, which determines payoff scenarios for the capped buffered equity notes linked to the MSCI World. Payoff sensitivity (cap, buffer, participation) depends on terms in the referenced pricing supplement and product supplement.

Investor outcomes hinge on index performance through September 30, 2027; the amendment itself is procedural and does not change structural mechanics. See the pricing supplement for exact cap, buffer levels, and payment formulas.

Securities Counsel / Compliance

Administrative amendment aligns disclosure with pricing mechanics and references risk sections.

The Rule 424(b)(3) amendment updates the pricing supplement linkage and records the Index closing level used as the Initial Value. It reiterates risk disclosures located in the prospectus supplement, product supplement and prospectus addendum.

Regulatory treatment is routine: the amendment confirms the pricing input and provides hyperlinks to source documents. Material legal qualifiers and investor risk language remain in the referenced exhibits.

Key Figures

Initial Value: 4,180.83 Maturity Date: September 30, 2027 Registration Statement Nos.: 333-293684 and 333-293684-01 +4 more

7 metrics

Initial Value 4,180.83 closing level of the Index on the Pricing Date

Maturity Date September 30, 2027 notes linked to MSCI World due on this date

Registration Statement Nos. 333-293684 and 333-293684-01 filing identifiers on the amendment cover page

Pricing Supplement Date March 27, 2026 date of the referenced pricing supplement

Prospectus/Prospectus Supplement Date April 13, 2023 dates of the base prospectus and prospectus supplement

Prospectus Addendum Date June 3, 2024 date of the prospectus addendum referenced in the amendment

CUSIP 46660RFW9 identifier for these notes

Key Terms

Capped Buffered Equity Notes, Initial Value, Pricing Date, Prospectus Supplement, +1 more

5 terms

Capped Buffered Equity Notes financial

"Structured Investments Capped Buffered Equity Notes Linked to the MSCI World due September 30, 2027"

A capped buffered equity note is a structured investment tied to a stock or stock index that protects investors from a portion of downside losses (the “buffer”) while also limiting how much upside they can earn (the “cap”). Think of it like insurance that covers small dents to your car but stops paying for major accidents and also prevents you from collecting full payout if the car’s value soars; investors should weigh the trade-off between partial loss protection, limited gains, and the issuing bank’s credit risk.

Initial Value financial

"Initial Value: The closing level of the Index on the Pricing Date, which was 4,180.83"

Pricing Date financial

"The closing level of the Index on the Pricing Date"

Prospectus Supplement regulatory

"See 'Risk Factors' beginning on page S-2 of the accompanying prospectus supplement"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

Prospectus Addendum regulatory

"prospectus addendum dated June 3, 2024"

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 04/20/2026 - 04:27 PM Learn about SEC filing dates

FAQ

What did JPMorgan (JPM) change in the pricing supplement?

Answer: The amendment sets the Initial Value of the MSCI World Index at 4,180.83. It updates the pricing supplement linkage and points investors to the full prospectus, product supplement, and prospectus addendum for detailed terms and risks.

When do the capped buffered equity notes mature for JPM (JPM)?

Answer: The notes are scheduled to mature on September 30, 2027. The amendment confirms the Initial Value used to calculate payoffs over the notes' life, per the referenced pricing supplement.

Who guarantees these JPMorgan structured notes (JPM)?

Answer: The notes are fully and unconditionally guaranteed by JPMorgan Chase & Co. The amendment reiterates that these notes are not bank deposits and are not FDIC-insured.

Where can I find the full terms and risk factors for these notes?

Answer: The amendment directs investors to the pricing supplement dated March 27, 2026, product supplement no. 4-I, underlying supplement no. 1-I, prospectus and prospectus supplement dated April 13, 2023, and a prospectus addendum dated June 3, 2024.

What is the CUSIP for these JPMorgan (JPM) notes?

Answer: The notes carry CUSIP 46660RFW9. This identifier is provided in the amendment alongside the Initial Value for clarity in trading and recordkeeping.

April 20, 2026 Registration Statement Nos. 333-293684 and 333-293684-01; Rule 424(b)(3)
Amendment no. 1 to pricing supplement dated March 27, 2026 to product supplement no. 4-I dated April 13, 2023, underlying supplement no. 1-I
dated April 13, 2023, the prospectus and prospectus supplement, each dated April 13, 2023, and the prospectus addendum dated June 3, 2024
JPMorgan Chase Financial Company LLC
Structured Investments
Capped Buffered Equity Notes Linked to the MSCI World
IndexSM due September 30, 2027
Fully and Unconditionally Guaranteed by JPMorgan Chase & Co.
Notwithstanding anything to the contrary set forth in the pricing supplement dated March 27, 2026, related to the notes referred to
above (the “pricing supplement”), the Initial Value is as follows:
Initial Value: The closing level of the Index on the Pricing Date, which was 4,180.83
CUSIP: 46660RFW9
Investing in the notes involves a number of risks. See “Risk Factors” beginning on page S-2 of the accompanying
prospectus supplement, Annex A to the accompanying prospectus addendum, “Risk Factors” beginning on page PS-11
of the accompanying product supplement and “Selected Risk Considerations” beginning on page PS-4 of the pricing
supplement.
Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved
of the notes or passed upon the accuracy or the adequacy of this amendment, the pricing supplement or the accompanying
product supplement, underlying supplement, prospectus supplement, prospectus and prospectus addendum. Any representation
to the contrary is a criminal offense.
The notes are not bank deposits, are not insured by the Federal Deposit Insurance Corporation or any other governmental agency
and are not obligations of, or guaranteed by, a bank.
You should read this amendment together with the pricing supplement and the related product supplement, prospectus
supplement, prospectus and prospectus addendum, each of which can be accessed via the hyperlinks below. Please also see
“Additional Terms Specific to the Notes” in the pricing supplement.
Pricing supplement dated March 27, 2026:
http://www.sec.gov/Archives/edgar/data/19617/000121390026037006/ea0284052-01_424b2.htm
Product supplement no. 4-I dated April 13, 2023:
http://www.sec.gov/Archives/edgar/data/19617/000121390023029539/ea152803_424b2.pdf
Underlying supplement no. 1-I dated April 13, 2023:
http://www.sec.gov/Archives/edgar/data/19617/000121390023029543/ea151873_424b2.pdf
Prospectus supplement and prospectus, each dated April 13, 2023:
http://www.sec.gov/Archives/edgar/data/19617/000095010323005751/crt_dp192097-424b2.pdf
Prospectus addendum dated June 3, 2024:
http://www.sec.gov/Archives/edgar/data/1665650/000095010324007599/dp211753_424b3.htm