[FWP] Inverse VIX Short-Term Futures ETNs due March 22, 2045 Free Writing Prospectus
JPMorgan Chase Financial Company has issued a free writing prospectus for Auto Callable Contingent Interest Notes linked to GE Vernova stock, due July 1, 2027. The notes offer a potential 15% annual contingent interest rate (3.75% quarterly) with key features:
- Minimum denomination of $1,000 with estimated value not less than $940.00
- Automatic call feature triggers if stock price exceeds Initial Value on quarterly Review Dates
- Interest payments contingent on stock price remaining above Interest Barrier (53.50% of Initial Value)
- At maturity, full principal returned if Final Value exceeds Trigger Value; otherwise, investors face potential losses proportional to stock decline
Key risks include potential loss of principal, credit risk of JPMorgan Chase, limited appreciation potential, and forced early exit through automatic call feature. The notes lack liquidity and dividend rights, with complex tax implications.
JPMorgan Chase Financial Company ha pubblicato un prospetto informativo gratuito per le Note a Interesse Contingente Auto Richiamabili collegate alle azioni GE Vernova, con scadenza il 1° luglio 2027. Le note offrono un potenziale tasso di interesse contingente annuo del 15% (3,75% trimestrale) con le seguenti caratteristiche principali:
- Denominazione minima di 1.000 $ con valore stimato non inferiore a 940,00 $
- Funzione di richiamo automatico che si attiva se il prezzo delle azioni supera il Valore Iniziale nelle Date di Revisione trimestrali
- I pagamenti degli interessi dipendono dal fatto che il prezzo delle azioni rimanga sopra la Barriera di Interesse (53,50% del Valore Iniziale)
- Alla scadenza, il capitale viene restituito integralmente se il Valore Finale supera il Valore di Attivazione; in caso contrario, gli investitori possono subire perdite proporzionali al calo delle azioni
I rischi principali includono la possibile perdita del capitale, il rischio di credito di JPMorgan Chase, il potenziale limitato di apprezzamento e l'uscita anticipata forzata tramite la funzione di richiamo automatico. Le note sono poco liquide, non prevedono diritti sui dividendi e comportano implicazioni fiscali complesse.
JPMorgan Chase Financial Company ha emitido un prospecto informativo gratuito para Notas de Interés Contingente Auto Llamables vinculadas a las acciones de GE Vernova, con vencimiento el 1 de julio de 2027. Las notas ofrecen una tasa de interés contingente anual potencial del 15% (3.75% trimestral) con las siguientes características principales:
- Denominación mínima de $1,000 con un valor estimado no inferior a $940.00
- Función de llamado automático que se activa si el precio de la acción supera el Valor Inicial en las Fechas de Revisión trimestrales
- Los pagos de intereses dependen de que el precio de la acción se mantenga por encima de la Barrera de Interés (53.50% del Valor Inicial)
- Al vencimiento, se devuelve el capital completo si el Valor Final supera el Valor de Activación; de lo contrario, los inversores enfrentan posibles pérdidas proporcionales a la caída de la acción
Los riesgos clave incluyen la posible pérdida de capital, riesgo crediticio de JPMorgan Chase, potencial limitado de apreciación y salida anticipada forzada mediante la función de llamado automático. Las notas carecen de liquidez y derechos sobre dividendos, con implicaciones fiscales complejas.
JPMorgan Chase Financial Company는 GE Vernova 주식과 연계된 자동 상환 조건부 이자 노트에 대한 무료 발행 안내서를 발표했으며, 만기는 2027년 7월 1일입니다. 이 노트는 잠재적인 연간 15% 조건부 이자율(분기별 3.75%)을 제공하며 주요 특징은 다음과 같습니다:
- 최소 액면가 $1,000, 예상 가치는 $940.00 이상
- 분기별 검토일에 주가가 초기 가치 초과 시 자동 상환 기능 발동
- 이자 지급은 주가가 이자 장벽(초기 가치의 53.50%) 이상일 경우에만 지급
- 만기 시 최종 가치가 트리거 가치 초과 시 원금 전액 반환; 그렇지 않으면 주가 하락에 비례한 손실 가능성 있음
주요 위험 요소로는 원금 손실 가능성, JPMorgan Chase의 신용 위험, 제한된 상승 잠재력, 자동 상환 기능에 의한 조기 강제 종료 등이 있으며, 유동성이 부족하고 배당 권리가 없으며 복잡한 세금 문제가 있습니다.
JPMorgan Chase Financial Company a publié un prospectus d’information gratuit pour des Notes à Intérêt Conditionnel Rappelables Automatiquement liées à l’action GE Vernova, arrivant à échéance le 1er juillet 2027. Ces notes offrent un taux d’intérêt conditionnel annuel potentiel de 15% (3,75% trimestriel) avec les caractéristiques clés suivantes :
- Nominal minimum de 1 000 $ avec une valeur estimée d’au moins 940,00 $
- Fonction de rappel automatique déclenchée si le cours de l’action dépasse la Valeur Initiale aux dates de revue trimestrielles
- Les paiements d’intérêts sont conditionnés au maintien du cours de l’action au-dessus de la Barrière d’Intérêt (53,50 % de la Valeur Initiale)
- À l’échéance, le capital est intégralement remboursé si la Valeur Finale dépasse la Valeur de Déclenchement ; sinon, les investisseurs peuvent subir des pertes proportionnelles à la baisse du cours
Les principaux risques incluent la perte possible du capital, le risque de crédit de JPMorgan Chase, un potentiel d’appréciation limité, ainsi qu’une sortie anticipée forcée via la fonction de rappel automatique. Ces notes manquent de liquidité, ne donnent pas droit aux dividendes et présentent des implications fiscales complexes.
JPMorgan Chase Financial Company hat einen kostenlosen Zeichnungsprospekt für Auto Callable Contingent Interest Notes herausgegeben, die mit GE Vernova-Aktien verknüpft sind und am 1. Juli 2027 fällig werden. Die Notes bieten einen potenziellen jährlichen bedingten Zinssatz von 15% (vierteljährlich 3,75%) mit folgenden Hauptmerkmalen:
- Mindestnennwert von 1.000 $ mit einem geschätzten Wert von mindestens 940,00 $
- Automatische Rückruf-Funktion wird ausgelöst, wenn der Aktienkurs an den vierteljährlichen Überprüfungsterminen den Anfangswert übersteigt
- Zinszahlungen sind davon abhängig, dass der Aktienkurs über der Zinsbarriere (53,50% des Anfangswerts) bleibt
- Bei Fälligkeit wird das volle Kapital zurückgezahlt, wenn der Endwert den Auslösewert übersteigt; andernfalls können Anleger Verluste proportional zum Kursrückgang erleiden
Wesentliche Risiken umfassen den möglichen Kapitalverlust, das Kreditrisiko von JPMorgan Chase, begrenztes Aufwärtspotenzial und den erzwungenen vorzeitigen Ausstieg durch die automatische Rückruf-Funktion. Die Notes sind illiquide, gewähren keine Dividendenrechte und haben komplexe steuerliche Auswirkungen.
- High contingent interest rate of 15% per annum (3.75% quarterly) if conditions are met
- Automatic call feature provides potential early exit with full principal return plus interest if stock price meets threshold
- Downside protection through Trigger Value set at 53.50% of initial value, limiting losses unless breach occurs
- No guaranteed interest payments - contingent on reference stock performance
- Potential for significant principal loss (up to 100%) if stock falls below trigger value
- Limited upside potential capped at contingent interest payments regardless of reference stock appreciation
- Early automatic call feature may force exit during favorable market conditions, limiting potential gains
JPMorgan Chase Financial Company ha pubblicato un prospetto informativo gratuito per le Note a Interesse Contingente Auto Richiamabili collegate alle azioni GE Vernova, con scadenza il 1° luglio 2027. Le note offrono un potenziale tasso di interesse contingente annuo del 15% (3,75% trimestrale) con le seguenti caratteristiche principali:
- Denominazione minima di 1.000 $ con valore stimato non inferiore a 940,00 $
- Funzione di richiamo automatico che si attiva se il prezzo delle azioni supera il Valore Iniziale nelle Date di Revisione trimestrali
- I pagamenti degli interessi dipendono dal fatto che il prezzo delle azioni rimanga sopra la Barriera di Interesse (53,50% del Valore Iniziale)
- Alla scadenza, il capitale viene restituito integralmente se il Valore Finale supera il Valore di Attivazione; in caso contrario, gli investitori possono subire perdite proporzionali al calo delle azioni
I rischi principali includono la possibile perdita del capitale, il rischio di credito di JPMorgan Chase, il potenziale limitato di apprezzamento e l'uscita anticipata forzata tramite la funzione di richiamo automatico. Le note sono poco liquide, non prevedono diritti sui dividendi e comportano implicazioni fiscali complesse.
JPMorgan Chase Financial Company ha emitido un prospecto informativo gratuito para Notas de Interés Contingente Auto Llamables vinculadas a las acciones de GE Vernova, con vencimiento el 1 de julio de 2027. Las notas ofrecen una tasa de interés contingente anual potencial del 15% (3.75% trimestral) con las siguientes características principales:
- Denominación mínima de $1,000 con un valor estimado no inferior a $940.00
- Función de llamado automático que se activa si el precio de la acción supera el Valor Inicial en las Fechas de Revisión trimestrales
- Los pagos de intereses dependen de que el precio de la acción se mantenga por encima de la Barrera de Interés (53.50% del Valor Inicial)
- Al vencimiento, se devuelve el capital completo si el Valor Final supera el Valor de Activación; de lo contrario, los inversores enfrentan posibles pérdidas proporcionales a la caída de la acción
Los riesgos clave incluyen la posible pérdida de capital, riesgo crediticio de JPMorgan Chase, potencial limitado de apreciación y salida anticipada forzada mediante la función de llamado automático. Las notas carecen de liquidez y derechos sobre dividendos, con implicaciones fiscales complejas.
JPMorgan Chase Financial Company는 GE Vernova 주식과 연계된 자동 상환 조건부 이자 노트에 대한 무료 발행 안내서를 발표했으며, 만기는 2027년 7월 1일입니다. 이 노트는 잠재적인 연간 15% 조건부 이자율(분기별 3.75%)을 제공하며 주요 특징은 다음과 같습니다:
- 최소 액면가 $1,000, 예상 가치는 $940.00 이상
- 분기별 검토일에 주가가 초기 가치 초과 시 자동 상환 기능 발동
- 이자 지급은 주가가 이자 장벽(초기 가치의 53.50%) 이상일 경우에만 지급
- 만기 시 최종 가치가 트리거 가치 초과 시 원금 전액 반환; 그렇지 않으면 주가 하락에 비례한 손실 가능성 있음
주요 위험 요소로는 원금 손실 가능성, JPMorgan Chase의 신용 위험, 제한된 상승 잠재력, 자동 상환 기능에 의한 조기 강제 종료 등이 있으며, 유동성이 부족하고 배당 권리가 없으며 복잡한 세금 문제가 있습니다.
JPMorgan Chase Financial Company a publié un prospectus d’information gratuit pour des Notes à Intérêt Conditionnel Rappelables Automatiquement liées à l’action GE Vernova, arrivant à échéance le 1er juillet 2027. Ces notes offrent un taux d’intérêt conditionnel annuel potentiel de 15% (3,75% trimestriel) avec les caractéristiques clés suivantes :
- Nominal minimum de 1 000 $ avec une valeur estimée d’au moins 940,00 $
- Fonction de rappel automatique déclenchée si le cours de l’action dépasse la Valeur Initiale aux dates de revue trimestrielles
- Les paiements d’intérêts sont conditionnés au maintien du cours de l’action au-dessus de la Barrière d’Intérêt (53,50 % de la Valeur Initiale)
- À l’échéance, le capital est intégralement remboursé si la Valeur Finale dépasse la Valeur de Déclenchement ; sinon, les investisseurs peuvent subir des pertes proportionnelles à la baisse du cours
Les principaux risques incluent la perte possible du capital, le risque de crédit de JPMorgan Chase, un potentiel d’appréciation limité, ainsi qu’une sortie anticipée forcée via la fonction de rappel automatique. Ces notes manquent de liquidité, ne donnent pas droit aux dividendes et présentent des implications fiscales complexes.
JPMorgan Chase Financial Company hat einen kostenlosen Zeichnungsprospekt für Auto Callable Contingent Interest Notes herausgegeben, die mit GE Vernova-Aktien verknüpft sind und am 1. Juli 2027 fällig werden. Die Notes bieten einen potenziellen jährlichen bedingten Zinssatz von 15% (vierteljährlich 3,75%) mit folgenden Hauptmerkmalen:
- Mindestnennwert von 1.000 $ mit einem geschätzten Wert von mindestens 940,00 $
- Automatische Rückruf-Funktion wird ausgelöst, wenn der Aktienkurs an den vierteljährlichen Überprüfungsterminen den Anfangswert übersteigt
- Zinszahlungen sind davon abhängig, dass der Aktienkurs über der Zinsbarriere (53,50% des Anfangswerts) bleibt
- Bei Fälligkeit wird das volle Kapital zurückgezahlt, wenn der Endwert den Auslösewert übersteigt; andernfalls können Anleger Verluste proportional zum Kursrückgang erleiden
Wesentliche Risiken umfassen den möglichen Kapitalverlust, das Kreditrisiko von JPMorgan Chase, begrenztes Aufwärtspotenzial und den erzwungenen vorzeitigen Ausstieg durch die automatische Rückruf-Funktion. Die Notes sind illiquide, gewähren keine Dividendenrechte und haben komplexe steuerliche Auswirkungen.
The following is a summary of the terms of the notes offered by the preliminary pricing supplement hyperlinked below. Summary of Terms Issuer: JPMorgan Chase Financial Company LLC Guarantor: JPMorgan Chase & Co. Minimum Denomination: $1,000 Reference Stock: Common stock of GE Vernova Inc. Pricing Date: June 27, 2025 Final Review Date: June 28, 2027 Maturity Date: July 1, 2027 Review Dates: Quarterly Contingent Interest Rate: 15.00% per annum, payable quarterly at a rate of 3.75%, if applicable* Interest Barrier/ Trigger Value: An amount that represents at most 53.50% of the Initial Value** CUSIP: 48136E5A9 Preliminary Pricing Supplement: http://sp.jpmorgan.com/document/cusip/ 48136E5A9 /doctype/Product_Termsheet/document.pdf Estimated Value: The estimated value of the notes, when the terms of the notes are set, will not be less than $940.00 per $1,000 principal amount note. For information about the estimated value of the notes, which likely will be lower than the price you paid for the notes, please see the hyperlink above. Automatic Call If the closing price of one share of the Reference Stock on any Review Date (other than the first and final Review Dates) is gre ater than or equal to the Initial Value, the notes will be automatically called for a cash payment, for each $1,000 principal amount note, equal to (a) $1,000 plus (b) the Contingent Interest Payment applicable to that Review Date, payable on the applicable Call Settlement Date. No further p aym ents will be made on the notes. Payment at Maturity If the notes have not been automatically called and the Final Value is greater than or equal to the Trigger Value, you will r ece ive a cash payment at maturity, for each $1,000 principal amount note, equal to (a) $1,000 plus (b) the Contingent Interest Payment applicable to the final Review Date. If the notes have not been automatically called and the Final Value is less than the Trigger Value, your payment at maturity per $1,000 principal amount note will be calculated as follows: $1,000 + ($1,000 î Stock Return) If the notes have not been automatically called and the Final Value is less than the Trigger Value, you will lose more than 4 6.5 0% of your principal amount at maturity and could lose all of your principal amount at maturity. **The actual Interest Barrier and Trigger Value will be provided in the pricing supplement and will not be greater than 53.50 % o f the Initial Value. ***Reflects Interest Barrier and Trigger Value equal to the maximum Interest Barrier and Trigger Value set forth herein for i llu strative purposes. Capitalized terms used but not defined herein shall have the meanings set forth in the preliminary pricing supplement. Any payment on the notes is subject to the credit risk of JPMorgan Chase Financial Company LLC, as issuer of the notes, and t he credit risk of JPMorgan Chase & Co., as guarantor of the notes. Hypothetical Payment at Maturity*** J.P. Morgan Structured Investments | 1 800 576 3529 | jpm_structured_inv e stments@jpmorgan.com 2yNC6m GEV Auto Callable Contingent Interest Notes North America Structured Investments Payment at Maturity (reflects 15.00% per annum Contingent Interest Rate) Stock Return $1,037.50 60.00% $1,037.50 40.00% $1,037.50 20.00% $1,037.50 5.00% $1,037.50 0.00% $1,037.50 - 5.00% $1,037.50 - 10.00% $1,037.50 - 20.00% $1,037.50 - 30.00% $1,037.50 - 40.00% $1,037.50 - 46.50% $534.90 - 46.51% $500.00 - 50.00% $400.00 - 60.00% $200.00 - 80.00% $0.00 - 100.00% This table does not demonstrate how your interest payments can vary over the term of your notes. Contingent Interest *If the notes have not been automatically called and the closing price of one share of the Reference Stock on any Review Date is greater than or equal to the Interest Barrier, you will receive on the applicable Interest Payment Date for each $1,000 principal amount note a Contingent Interest Payment equal to $37.50 (equivalent to a Contingent Interest Rate of 15.00% per annum, payable at a rate of 3.75% per quarter). The hypothetical payments on the notes shown above apply only if you hold the notes for their entire term or until automatically called. These hypotheticals do not reflect fees or expenses that would be associated with any sale in the secondary market. If these fees and expenses were included, the hypothetical payments shown above would likely be lower.
J.P. Morgan Structured Investments | 1 800 576 3529 | jpm_structured_investments@jpmorgan.com Selected Risks • Your investment in the notes may result in a loss. The notes do not guarantee any return of principal. • The notes do not guarantee the payment of interest and may not pay interest at all. • Any payment on the notes is subject to the credit risks of JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. Therefore the value of the notes prior to maturity will be subject to changes in the market’s view of the creditworthiness of JPMorgan Chase Financial Company LLC or JPMorgan Chase & Co. • The appreciation potential of the notes is limited to the sum of any Contingent Interest Payments that may be paid over the term of the notes. • The benefit provided by the Trigger Value may terminate on the final Review Date. • The automatic call feature may force a potential early exit. • No dividend payments or voting rights. • The anti - dilution protection for the Reference Stock is limited and may be discretionary. • As a finance subsidiary, JPMorgan Chase Financial Company LLC has no independent operations and has limited assets. Selected Risks (continued) • The estimated value of the notes will be lower than the original issue price (price to public) of the notes. • The estimated value of the notes is determined by reference to an internal funding rate. • The estimated value of the notes does not represent future values and may differ from others’ estimates. • The value of the notes, which may be reflected in customer account statements, may be higher than the then current estimated value of the notes for a limited time period. • Lack of liquidity: J.P. Morgan Securities LLC (who we refer to as JPMS) intends to offer to purchase the notes in the secondary market but is not required to do so. The price, if any, at which JPMS will be willing to purchase notes from you in the secondary market, if at all, may result in a significant loss of your principal. • Potential conflicts: We and our affiliates play a variety of roles in connection with the issuance of notes, including acting as calculation agent and hedging our obligations under the notes, and making the assumptions used to determine the pricing of the notes and the estimated value of the notes when the terms of the notes are set. It is possible that such hedging or other trading activities of J.P. Morgan or its affiliates could result in substantial returns for J.P. Morgan and its affiliates while the value of the notes declines. • The tax consequences of the notes may be uncertain. You should consult your tax adviser regarding the U.S. federal income tax consequences of an investment in the notes. Additional Information SEC Legend: JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. have filed a registration statement (including a pr osp ectus) 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 JPM organ 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 the se 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 participat ing in the this offering will arrange to send you the prospectus and each prospectus supplement as well as any product supplement and preliminary pricing supplement if you so request by calling toll - free 1 - 866 - 535 - 9248. IRS Circular 230 Disclosure: JPMorgan Chase & Co. and its affiliates do not provide tax advice. Accordingly, any discussion o f U .S. tax matters contained herein (including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with JPMorgan Cha se & Co. of any of the matters addressed herein or for the purpose of avoiding U.S. tax - related penalties. Investment suitability must be determined individually for each investor, and the financial instruments described herein may not be suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax advice. Investors should consult with their own advisers as to the se matters. This material is not a product of J.P. Morgan Research Departments. Free Writing Prospectus Filed Pursuant to Rule 433, Registration Statement Nos. 333 - 270004 and 333 - 270004 - 01 North America Structured Investments 2yNC6m GEV Auto Callable Contingent Interest Notes The risks identified above are not exhaustive. Please see “Risk Factors” in the prospectus supplement and the applicable prod uct supplement, Annex A to the prospectus addendum and “Selected Risk Considerations” in the applicable preliminary pricing supplement for additional information.
FAQ
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