[FWP] Inverse VIX Short-Term Futures ETNs due March 22, 2045 Free Writing Prospectus
JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., plans to issue Market-Linked Securities that combine a contingent fixed return with partial downside protection linked to the S&P 500 Index. The two-year notes will price on 26 Jun 2025, settle on 1 Jul 2025, and mature on 1 Jul 2027.
Key payout mechanics:
- Principal: $1,000 per security.
- Contingent fixed return: at least 11.40% ($114) if the Index closes on the calculation day at or above the threshold level (85% of the starting level).
- Buffer: 15% downside protection; below the threshold investors participate 1-for-1 in losses, risking up to 85% of principal.
- Estimated value at pricing: ~$961.10 (final value not lower than $940), highlighting an initial fair-value discount versus the $1,000 issue price.
Distribution economics: Wells Fargo Securities may receive up to 2.575% in selling concessions, with dealers including Wells Fargo Advisors retaining 2.00% and an additional 0.075% distribution fee; JPMS may pay up to 0.20% to selected dealers.
Risk highlights include potential loss of up to 85% of principal, limited upside to the fixed return, credit exposure to both JPMorgan Financial and JPMorgan Chase & Co., lack of secondary-market liquidity, and uncertain tax treatment. The securities are unsecured, non-interest-bearing, and not FDIC-insured.
Investors seeking enhanced yield relative to conventional notes may find the 11.40% contingent return attractive, but should weigh the credit risk, fee load, and asymmetric return profile versus a direct S&P 500 investment.
JPMorgan Chase Financial Company LLC, garantita integralmente da JPMorgan Chase & Co., prevede di emettere Market-Linked Securities che offrono un rendimento fisso condizionato con una protezione parziale dal ribasso legata all'indice S&P 500. Le obbligazioni biennali saranno quotate il 26 giugno 2025, regolate il 1 luglio 2025 e scadranno il 1 luglio 2027.
Principali caratteristiche del rendimento:
- Capitale nominale: 1.000$ per titolo.
- Rendimento fisso condizionato: almeno l'11,40% (114$) se l'indice chiude nel giorno di calcolo al di sopra o pari al livello soglia (85% del valore iniziale).
- Buffer: protezione dal ribasso del 15%; sotto la soglia gli investitori subiscono perdite in proporzione 1 a 1, rischiando fino all'85% del capitale.
- Valore stimato al prezzo di emissione: circa 961,10$ (valore finale non inferiore a 940$), evidenziando uno sconto iniziale rispetto al prezzo di emissione di 1.000$.
Economia della distribuzione: Wells Fargo Securities può ricevere fino al 2,575% in commissioni di vendita, con i dealer inclusi Wells Fargo Advisors che trattengono il 2,00% più una commissione aggiuntiva dello 0,075%; JPMS può corrispondere fino allo 0,20% a dealer selezionati.
Rischi principali: possibile perdita fino all'85% del capitale, rendimento limitato al fisso, esposizione creditizia sia verso JPMorgan Financial sia verso JPMorgan Chase & Co., mancanza di liquidità sul mercato secondario e trattamento fiscale incerto. I titoli sono non garantiti, senza interessi e non assicurati dalla FDIC.
Gli investitori in cerca di un rendimento superiore rispetto alle obbligazioni tradizionali potrebbero trovare interessante l'11,40% di rendimento condizionato, ma devono valutare il rischio di credito, i costi e il profilo di rendimento asimmetrico rispetto a un investimento diretto sull'S&P 500.
JPMorgan Chase Financial Company LLC, garantizada completamente por JPMorgan Chase & Co., planea emitir Valores Vinculados al Mercado que combinan un retorno fijo contingente con protección parcial contra pérdidas vinculadas al índice S&P 500. Los bonos a dos años se emitirán el 26 de junio de 2025, se liquidarán el 1 de julio de 2025 y vencerán el 1 de julio de 2027.
Mecánica clave de pago:
- Principal: $1,000 por valor.
- Retorno fijo contingente: al menos 11.40% ($114) si el índice cierra en la fecha de cálculo en o por encima del nivel umbral (85% del nivel inicial).
- Buffer: protección contra pérdidas del 15%; por debajo del umbral, los inversores participan 1 a 1 en las pérdidas, arriesgando hasta el 85% del principal.
- Valor estimado en la emisión: aproximadamente $961.10 (valor final no inferior a $940), mostrando un descuento inicial respecto al precio de emisión de $1,000.
Economía de distribución: Wells Fargo Securities puede recibir hasta un 2.575% en concesiones de venta, con distribuidores como Wells Fargo Advisors reteniendo un 2.00% y una tarifa adicional de distribución del 0.075%; JPMS puede pagar hasta un 0.20% a distribuidores seleccionados.
Aspectos de riesgo: posible pérdida de hasta el 85% del principal, ganancia limitada al retorno fijo, exposición crediticia tanto a JPMorgan Financial como a JPMorgan Chase & Co., falta de liquidez en el mercado secundario y tratamiento fiscal incierto. Los valores son no garantizados, sin intereses y no asegurados por la FDIC.
Los inversores que buscan un rendimiento mejorado en comparación con bonos convencionales pueden encontrar atractivo el retorno contingente del 11.40%, pero deben considerar el riesgo crediticio, las comisiones y el perfil de retorno asimétrico frente a una inversión directa en el S&P 500.
JPMorgan Chase Financial Company LLC는 JPMorgan Chase & Co.의 전액 보증을 받으며, S&P 500 지수에 연동된 부분적 하락 보호와 조건부 고정 수익을 결합한 시장 연계 증권을 발행할 계획입니다. 2년 만기 노트는 2025년 6월 26일에 가격이 책정되고, 2025년 7월 1일에 결제되며, 2027년 7월 1일에 만기됩니다.
주요 지급 메커니즘:
- 원금: 증권당 $1,000.
- 조건부 고정 수익: 지수가 계산일에 시작 수준의 85%인 임계값 이상으로 마감하면 최소 11.40%($114) 지급.
- 버퍼: 15% 하락 보호; 임계값 이하에서는 투자자가 1대1로 손실에 참여하며 최대 85%의 원금 손실 위험.
- 가격 책정 시 예상 가치: 약 $961.10 (최종 가치는 $940 이하가 아님), $1,000 발행가 대비 초기 공정 가치 할인 반영.
배포 경제성: Wells Fargo Securities는 최대 2.575%의 판매 수수료를 받을 수 있으며, Wells Fargo Advisors 등 딜러는 2.00%와 추가 0.075% 배포 수수료를 유지합니다; JPMS는 선정된 딜러에 최대 0.20%를 지급할 수 있습니다.
위험 요점: 최대 85% 원금 손실 가능성, 고정 수익으로 제한된 상승 잠재력, JPMorgan Financial 및 JPMorgan Chase & Co.에 대한 신용 노출, 2차 시장 유동성 부족, 불확실한 세금 처리. 증권은 무담보, 무이자이며 FDIC 보험이 적용되지 않습니다.
전통적인 노트 대비 향상된 수익률을 추구하는 투자자는 11.40% 조건부 수익을 매력적으로 볼 수 있으나, 신용 위험, 수수료 부담, 비대칭적 수익 프로필을 직접 S&P 500 투자와 비교해 신중히 고려해야 합니다.
JPMorgan Chase Financial Company LLC, entièrement garantie par JPMorgan Chase & Co., prévoit d’émettre des titres liés au marché combinant un rendement fixe conditionnel avec une protection partielle contre la baisse liée à l’indice S&P 500. Les billets de deux ans seront cotés le 26 juin 2025, réglés le 1er juillet 2025 et arriveront à échéance le 1er juillet 2027.
Mécanismes clés de paiement :
- Capital : 1 000 $ par titre.
- Rendement fixe conditionnel : au moins 11,40 % (114 $) si l’indice clôture à la date de calcul au-dessus ou égal au niveau seuil (85 % du niveau de départ).
- Buffer : protection contre une baisse de 15 % ; en dessous du seuil, les investisseurs supportent les pertes au prorata 1 pour 1, risquant jusqu’à 85 % du capital.
- Valeur estimée à la tarification : environ 961,10 $ (valeur finale non inférieure à 940 $), indiquant une décote initiale par rapport au prix d’émission de 1 000 $.
Économie de la distribution : Wells Fargo Securities peut recevoir jusqu’à 2,575 % de concessions de vente, avec des courtiers tels que Wells Fargo Advisors conservant 2,00 % et une commission de distribution supplémentaire de 0,075 % ; JPMS peut verser jusqu’à 0,20 % à des courtiers sélectionnés.
Points clés de risque : perte potentielle allant jusqu’à 85 % du capital, gain limité au rendement fixe, exposition au risque de crédit envers JPMorgan Financial et JPMorgan Chase & Co., manque de liquidité sur le marché secondaire et traitement fiscal incertain. Les titres sont non garantis, sans intérêt et non assurés par la FDIC.
Les investisseurs recherchant un rendement supérieur à celui des obligations conventionnelles pourraient trouver le rendement conditionnel de 11,40 % attractif, mais doivent considérer le risque de crédit, les frais et le profil de rendement asymétrique par rapport à un investissement direct dans le S&P 500.
JPMorgan Chase Financial Company LLC, vollständig garantiert von JPMorgan Chase & Co., plant die Emission von Marktgebundenen Wertpapieren, die eine bedingte feste Rendite mit teilweisem Abwärtsschutz in Verbindung mit dem S&P 500 Index kombinieren. Die zweijährigen Notes werden am 26. Juni 2025 bepreist, am 1. Juli 2025 abgerechnet und laufen am 1. Juli 2027 aus.
Wesentliche Auszahlungsmechanismen:
- Nominalbetrag: 1.000$ pro Wertpapier.
- Bedingte feste Rendite: mindestens 11,40% (114$), wenn der Index am Berechnungstag auf oder über dem Schwellenwert (85% des Anfangsniveaus) schließt.
- Schutzpuffer: 15% Abwärtsschutz; unterhalb des Schwellenwerts tragen Anleger Verluste 1:1 und riskieren bis zu 85% des Kapitals.
- Geschätzter Wert bei Preisfestsetzung: ca. 961,10$ (Endwert nicht unter 940$), was einen anfänglichen Fair-Value-Rabatt gegenüber dem Ausgabepreis von 1.000$ darstellt.
Vertriebsökonomie: Wells Fargo Securities kann bis zu 2,575% Verkaufsprovisionen erhalten, wobei Händler wie Wells Fargo Advisors 2,00% plus eine zusätzliche Vertriebsgebühr von 0,075% behalten; JPMS kann ausgewählten Händlern bis zu 0,20% zahlen.
Risikohighlights: potenzieller Verlust von bis zu 85% des Kapitals, begrenztes Aufwärtspotenzial auf die feste Rendite, Kreditrisiko gegenüber JPMorgan Financial und JPMorgan Chase & Co., mangelnde Liquidität am Sekundärmarkt und unsichere steuerliche Behandlung. Die Wertpapiere sind unbesichert, zinslos und nicht durch die FDIC versichert.
Investoren, die eine höhere Rendite als bei herkömmlichen Anleihen suchen, könnten die bedingte Rendite von 11,40% attraktiv finden, sollten jedoch das Kreditrisiko, die Gebührenbelastung und das asymmetrische Renditeprofil im Vergleich zu einer direkten Investition in den S&P 500 abwägen.
- Contingent fixed return of at least 11.40% offers a defined yield above current short-term rates if the S&P 500 stays above the 85% threshold.
- 15% downside buffer provides partial protection against moderate market declines.
- Full and unconditional guarantee by JPMorgan Chase & Co. adds high-grade credit backing.
- Principal loss up to 85% if the S&P 500 falls more than 15% by the calculation day.
- Upside capped at the contingent fixed return; investors forego any gains beyond ~11.4%.
- High selling concessions (up to 2.575%) and estimated fair-value discount (~$40-60) reduce investor economics.
- Illiquidity risk; secondary market may be limited and at prices below issue price.
- Uncertain tax treatment could adversely affect after-tax returns.
Insights
TL;DR: Note offers 11.4% capped upside, 15% buffer; downside to -85%; neutral credit impact for JPM.
The security is a typical contingent fixed-return buffered note. While the 11.4% return exceeds two-year Treasury yields, investors sacrifice all upside beyond this cap and face sizeable tail risk below the 85% threshold. The 15% buffer is modest given historic S&P 500 drawdowns. Fees of up to 2.575% plus a ~$40-60 issue discount reduce economic value. Credit exposure to JPMorgan is investment-grade, but still present. From a funding perspective, JPMorgan benefits by raising relatively cheap, option-embedded funding. For the issuer, this is routine and non-material; for buyers, risk-adjusted value appears limited.
JPMorgan Chase Financial Company LLC, garantita integralmente da JPMorgan Chase & Co., prevede di emettere Market-Linked Securities che offrono un rendimento fisso condizionato con una protezione parziale dal ribasso legata all'indice S&P 500. Le obbligazioni biennali saranno quotate il 26 giugno 2025, regolate il 1 luglio 2025 e scadranno il 1 luglio 2027.
Principali caratteristiche del rendimento:
- Capitale nominale: 1.000$ per titolo.
- Rendimento fisso condizionato: almeno l'11,40% (114$) se l'indice chiude nel giorno di calcolo al di sopra o pari al livello soglia (85% del valore iniziale).
- Buffer: protezione dal ribasso del 15%; sotto la soglia gli investitori subiscono perdite in proporzione 1 a 1, rischiando fino all'85% del capitale.
- Valore stimato al prezzo di emissione: circa 961,10$ (valore finale non inferiore a 940$), evidenziando uno sconto iniziale rispetto al prezzo di emissione di 1.000$.
Economia della distribuzione: Wells Fargo Securities può ricevere fino al 2,575% in commissioni di vendita, con i dealer inclusi Wells Fargo Advisors che trattengono il 2,00% più una commissione aggiuntiva dello 0,075%; JPMS può corrispondere fino allo 0,20% a dealer selezionati.
Rischi principali: possibile perdita fino all'85% del capitale, rendimento limitato al fisso, esposizione creditizia sia verso JPMorgan Financial sia verso JPMorgan Chase & Co., mancanza di liquidità sul mercato secondario e trattamento fiscale incerto. I titoli sono non garantiti, senza interessi e non assicurati dalla FDIC.
Gli investitori in cerca di un rendimento superiore rispetto alle obbligazioni tradizionali potrebbero trovare interessante l'11,40% di rendimento condizionato, ma devono valutare il rischio di credito, i costi e il profilo di rendimento asimmetrico rispetto a un investimento diretto sull'S&P 500.
JPMorgan Chase Financial Company LLC, garantizada completamente por JPMorgan Chase & Co., planea emitir Valores Vinculados al Mercado que combinan un retorno fijo contingente con protección parcial contra pérdidas vinculadas al índice S&P 500. Los bonos a dos años se emitirán el 26 de junio de 2025, se liquidarán el 1 de julio de 2025 y vencerán el 1 de julio de 2027.
Mecánica clave de pago:
- Principal: $1,000 por valor.
- Retorno fijo contingente: al menos 11.40% ($114) si el índice cierra en la fecha de cálculo en o por encima del nivel umbral (85% del nivel inicial).
- Buffer: protección contra pérdidas del 15%; por debajo del umbral, los inversores participan 1 a 1 en las pérdidas, arriesgando hasta el 85% del principal.
- Valor estimado en la emisión: aproximadamente $961.10 (valor final no inferior a $940), mostrando un descuento inicial respecto al precio de emisión de $1,000.
Economía de distribución: Wells Fargo Securities puede recibir hasta un 2.575% en concesiones de venta, con distribuidores como Wells Fargo Advisors reteniendo un 2.00% y una tarifa adicional de distribución del 0.075%; JPMS puede pagar hasta un 0.20% a distribuidores seleccionados.
Aspectos de riesgo: posible pérdida de hasta el 85% del principal, ganancia limitada al retorno fijo, exposición crediticia tanto a JPMorgan Financial como a JPMorgan Chase & Co., falta de liquidez en el mercado secundario y tratamiento fiscal incierto. Los valores son no garantizados, sin intereses y no asegurados por la FDIC.
Los inversores que buscan un rendimiento mejorado en comparación con bonos convencionales pueden encontrar atractivo el retorno contingente del 11.40%, pero deben considerar el riesgo crediticio, las comisiones y el perfil de retorno asimétrico frente a una inversión directa en el S&P 500.
JPMorgan Chase Financial Company LLC는 JPMorgan Chase & Co.의 전액 보증을 받으며, S&P 500 지수에 연동된 부분적 하락 보호와 조건부 고정 수익을 결합한 시장 연계 증권을 발행할 계획입니다. 2년 만기 노트는 2025년 6월 26일에 가격이 책정되고, 2025년 7월 1일에 결제되며, 2027년 7월 1일에 만기됩니다.
주요 지급 메커니즘:
- 원금: 증권당 $1,000.
- 조건부 고정 수익: 지수가 계산일에 시작 수준의 85%인 임계값 이상으로 마감하면 최소 11.40%($114) 지급.
- 버퍼: 15% 하락 보호; 임계값 이하에서는 투자자가 1대1로 손실에 참여하며 최대 85%의 원금 손실 위험.
- 가격 책정 시 예상 가치: 약 $961.10 (최종 가치는 $940 이하가 아님), $1,000 발행가 대비 초기 공정 가치 할인 반영.
배포 경제성: Wells Fargo Securities는 최대 2.575%의 판매 수수료를 받을 수 있으며, Wells Fargo Advisors 등 딜러는 2.00%와 추가 0.075% 배포 수수료를 유지합니다; JPMS는 선정된 딜러에 최대 0.20%를 지급할 수 있습니다.
위험 요점: 최대 85% 원금 손실 가능성, 고정 수익으로 제한된 상승 잠재력, JPMorgan Financial 및 JPMorgan Chase & Co.에 대한 신용 노출, 2차 시장 유동성 부족, 불확실한 세금 처리. 증권은 무담보, 무이자이며 FDIC 보험이 적용되지 않습니다.
전통적인 노트 대비 향상된 수익률을 추구하는 투자자는 11.40% 조건부 수익을 매력적으로 볼 수 있으나, 신용 위험, 수수료 부담, 비대칭적 수익 프로필을 직접 S&P 500 투자와 비교해 신중히 고려해야 합니다.
JPMorgan Chase Financial Company LLC, entièrement garantie par JPMorgan Chase & Co., prévoit d’émettre des titres liés au marché combinant un rendement fixe conditionnel avec une protection partielle contre la baisse liée à l’indice S&P 500. Les billets de deux ans seront cotés le 26 juin 2025, réglés le 1er juillet 2025 et arriveront à échéance le 1er juillet 2027.
Mécanismes clés de paiement :
- Capital : 1 000 $ par titre.
- Rendement fixe conditionnel : au moins 11,40 % (114 $) si l’indice clôture à la date de calcul au-dessus ou égal au niveau seuil (85 % du niveau de départ).
- Buffer : protection contre une baisse de 15 % ; en dessous du seuil, les investisseurs supportent les pertes au prorata 1 pour 1, risquant jusqu’à 85 % du capital.
- Valeur estimée à la tarification : environ 961,10 $ (valeur finale non inférieure à 940 $), indiquant une décote initiale par rapport au prix d’émission de 1 000 $.
Économie de la distribution : Wells Fargo Securities peut recevoir jusqu’à 2,575 % de concessions de vente, avec des courtiers tels que Wells Fargo Advisors conservant 2,00 % et une commission de distribution supplémentaire de 0,075 % ; JPMS peut verser jusqu’à 0,20 % à des courtiers sélectionnés.
Points clés de risque : perte potentielle allant jusqu’à 85 % du capital, gain limité au rendement fixe, exposition au risque de crédit envers JPMorgan Financial et JPMorgan Chase & Co., manque de liquidité sur le marché secondaire et traitement fiscal incertain. Les titres sont non garantis, sans intérêt et non assurés par la FDIC.
Les investisseurs recherchant un rendement supérieur à celui des obligations conventionnelles pourraient trouver le rendement conditionnel de 11,40 % attractif, mais doivent considérer le risque de crédit, les frais et le profil de rendement asymétrique par rapport à un investissement direct dans le S&P 500.
JPMorgan Chase Financial Company LLC, vollständig garantiert von JPMorgan Chase & Co., plant die Emission von Marktgebundenen Wertpapieren, die eine bedingte feste Rendite mit teilweisem Abwärtsschutz in Verbindung mit dem S&P 500 Index kombinieren. Die zweijährigen Notes werden am 26. Juni 2025 bepreist, am 1. Juli 2025 abgerechnet und laufen am 1. Juli 2027 aus.
Wesentliche Auszahlungsmechanismen:
- Nominalbetrag: 1.000$ pro Wertpapier.
- Bedingte feste Rendite: mindestens 11,40% (114$), wenn der Index am Berechnungstag auf oder über dem Schwellenwert (85% des Anfangsniveaus) schließt.
- Schutzpuffer: 15% Abwärtsschutz; unterhalb des Schwellenwerts tragen Anleger Verluste 1:1 und riskieren bis zu 85% des Kapitals.
- Geschätzter Wert bei Preisfestsetzung: ca. 961,10$ (Endwert nicht unter 940$), was einen anfänglichen Fair-Value-Rabatt gegenüber dem Ausgabepreis von 1.000$ darstellt.
Vertriebsökonomie: Wells Fargo Securities kann bis zu 2,575% Verkaufsprovisionen erhalten, wobei Händler wie Wells Fargo Advisors 2,00% plus eine zusätzliche Vertriebsgebühr von 0,075% behalten; JPMS kann ausgewählten Händlern bis zu 0,20% zahlen.
Risikohighlights: potenzieller Verlust von bis zu 85% des Kapitals, begrenztes Aufwärtspotenzial auf die feste Rendite, Kreditrisiko gegenüber JPMorgan Financial und JPMorgan Chase & Co., mangelnde Liquidität am Sekundärmarkt und unsichere steuerliche Behandlung. Die Wertpapiere sind unbesichert, zinslos und nicht durch die FDIC versichert.
Investoren, die eine höhere Rendite als bei herkömmlichen Anleihen suchen, könnten die bedingte Rendite von 11,40% attraktiv finden, sollten jedoch das Kreditrisiko, die Gebührenbelastung und das asymmetrische Renditeprofil im Vergleich zu einer direkten Investition in den S&P 500 abwägen.
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JPMorgan Chase Financial Company LLC Fully and Unconditionally Guaranteed by JPMorgan Chase & Co. Market Linked Securities |
Filed Pursuant to Rule 433 Registration
Statement Nos. 333-270004 and |
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Market Linked Securities— Contingent Fixed Return and Fixed Percentage Buffered Downside Principal at Risk Securities Linked to the S&P 500® Index due July 1, 2027 Fact Sheet dated June 20, 2025 to Preliminary Pricing Supplement dated June 20, 2025 |
Summary of Terms
| Issuer: | JPMorgan Chase Financial Company LLC |
| Guarantor: | JPMorgan Chase & Co. |
| Index: | S&P 500® Index (Bloomberg ticker: SPX) |
| Pricing Date1: | June 26, 2025 |
| Issue Date1: | July 1, 2025 |
| Calculation Day1, 2: | June 28, 2027 |
| Stated Maturity Date1, 2: | July 1, 2027 |
| Principal Amount: | $1,000 per security (100% of par) |
| Maturity Payment Amount: | · if the ending level is greater than or equal to the threshold level: $1,000 plus the contingent fixed return; or · if the ending level is less than the threshold level: $1,000 + [$1,000 × (index return + buffer amount)] |
| Starting Level: | The closing level of the Index on the pricing date |
| Ending Level: | The closing level of the Index on the calculation day |
| Contingent Fixed Return: | At least 11.40% of the principal amount (at least $114.00 per security) (to be provided in the pricing supplement) |
| Buffer Amount | 15% |
| Threshold Level: | 85% of the starting level |
| Index Return: | (ending level – starting level) / starting level |
| Calculation Agent: | J.P. Morgan Securities LLC (“JPMS”) |
| Denominations: | $1,000 and any integral multiple of $1,000 |
| CUSIP: | 48136EY90 |
| Fees and Commissions: | Up to 2.575% for Wells Fargo Securities, LLC (“WFS”); WFS has advised us that dealers, including Wells Fargo Advisors (“WFA”), may receive 2.00% of WFS’s fee, and WFA may also receive a distribution expense fee of 0.075%. In addition, with respect of certain securities sold in this offering, JPMS may pay a fee of up to 0.20% to selected dealers in consideration for marketing and other services in connection with the distribution of the securities to other dealers. |
| Tax Considerations: | See the preliminary pricing supplement. |
1 Subject to change 2 Subject to postponement | |
Hypothetical Payout Profile*
*Assumes a contingent fixed return equal to the minimum contingent fixed return
If the ending level is less than the threshold level, you will have 1-to-1 downside exposure to the decrease in the level of the Index in excess of the buffer amount, and you will lose some, and possibly up to 85%, of the principal amount of your securities at maturity.
The securities are unsecured and unsubordinated obligations of JPMorgan Chase Financial Company LLC, which we refer to as JPMorgan Financial, the payment on which is fully and unconditionally guaranteed by JPMorgan Chase & Co. Any payment on the securities is subject to the credit risk of JPMorgan Financial, as issuer of the securities, and the credit risk of JPMorgan Chase & Co., as guarantor of the securities.
If the securities priced on the date of the accompanying preliminary pricing supplement, the estimated value of the securities would be approximately $961.10 per security. The estimated value of the securities, when the terms of the securities are set, will be provided in the pricing supplement and will not be less than $940.00 per security. See “The Estimated Value of the Securities” in the preliminary pricing supplement for additional information.
Preliminary Pricing Supplement: http://www.sec.gov/Archives/edgar/data/19617/000121390025056116/
ea0246409-01_424b2.htm
The securities have complex features and investing in the securities involves risks not associated with an investment in conventional debt securities. See “Risk Factors” in the accompanying prospectus supplement and the accompanying product supplement, Annex A to the accompanying prospectus addendum and “Selected Risk Considerations” in the accompanying preliminary pricing supplement.
The securities 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.
THIS FACT SHEET DOES NOT PROVIDE ALL OF THE INFORMATION THAT AN INVESTOR SHOULD CONSIDER PRIOR TO MAKING AN INVESTMENT DECISION. This fact sheet should be read in conjunction with the accompanying preliminary pricing supplement, prospectus, prospectus supplement, prospectus addendum, product supplement and underlying supplement.
Selected Risk Considerations
The risks set forth below are discussed in detail in the “Selected Risk Considerations” section in the accompanying preliminary pricing supplement, the “Risk Factors” sections in the accompanying prospectus supplement and product supplement and Annex A to the accompanying prospectus addendum. Please review the risk disclosure carefully.
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· If the Ending Level Is Less Than the Threshold Level, You Will Lose Up to 85% of the Principal Amount of Your Securities at Maturity. · The Potential Return on the Securities Is Limited to the Contingent Fixed Return and May Be Lower Than the Return on a Direct Investment in the Index. · Your Ability to Receive the Contingent Fixed Return May Terminate on the Calculation Day. · The Securities Are Subject to the Credit Risks of JPMorgan Financial and JPMorgan Chase & Co. · As a Finance Subsidiary, JPMorgan Financial Has No Independent Operations and Has Limited Assets. · No Interest or Dividend Payments or Voting Rights · Lack of Liquidity · The Final Terms and Estimated Valuation of the Securities Will Be Provided in the Pricing Supplement. · The U.S. Federal Tax Consequences of the Securities Are Uncertain, and May Be Adverse to a Holder of the Securities. · Potential Conflicts · The Estimated Value of the Securities Will Be Lower Than the Original Issue Price (Price to Public) of the Securities.
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· The Estimated Value of the Securities Does Not Represent Future Values of the Securities and May Differ from Others’ Estimates. · The Estimated Value of the Securities Is Derived by Reference to an Internal Funding Rate. · The Value of the Securities as Published by JPMS (and Which May Be Reflected on Customer Account Statements) May Be Higher Than the Then-Current Estimated Value of the Securities for a Limited Time Period. · Secondary Market Prices of the Securities Will Likely Be Lower Than the Original Issue Price of the Securities. · Many Economic and Market Factors Will Impact the Value of the Securities. · Each of JPMorgan Chase & Co. and Wells Fargo & Company (the Parent Company of WFS) Is Currently One of the Companies that Make Up the Index. · The Maturity Payment Amount Will Depend upon the Performance of the Index and Therefore the Securities Are Subject to the Risks Associated with the Index, Each as Discussed in the Accompanying Preliminary Pricing Supplement and Product Supplement.
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SEC Legend: JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. have filed a registration statement (including a prospectus) with the SEC for any offerings to which these materials relate. Before you invest, you should read the prospectus in that registration statement and the other documents relating to this offering that JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. has filed with the SEC for more complete information about JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. and this offering. You may get these documents without cost by visiting EDGAR on the SEC web site at www.sec.gov. Alternatively, JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co., any agent or any dealer participating in this offering will arrange to send you the prospectus and each prospectus supplement as well as any product supplement, underlying supplement and preliminary pricing supplement if you so request by calling toll-free 1-866-535-9248.
As used in this fact sheet, “we,” “us” and “our” refer to JPMorgan Financial Company LLC. Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC, members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company.
FAQ
What is the maturity date of JPMorgan's VYLD Market Linked Securities?
How much can investors earn if the S&P 500 is at or above the threshold level?
What happens if the S&P 500 declines more than 15% by June 28, 2027?
Who is guaranteeing the payment obligations of these securities?
What fees are associated with the offering?
