[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., is offering Capped Buffered Return Enhanced Notes linked to the S&P 500 Index. Each $1,000 note provides 2.0x leveraged upside on any index gain, but the total payoff is capped by a Maximum Return set on the pricing date (10.40%‒14.40%). The notes include a 10% downside buffer; investors are protected against index losses up to that amount, but will lose 1% of principal for every 1% decline beyond the buffer. Maturity is November 5, 2026 with a single observation date on July 31, 2025.
The estimated value at issuance will be no less than $900 per $1,000 face, reflecting dealer fees and an internal funding rate. Payments depend entirely on JPMorgan’s credit; the notes pay no coupons, dividends, or voting rights. Secondary market liquidity is not guaranteed, and any bid from JPMS may be at a significant discount. Key risks highlighted include potential principal loss, issuer/guarantor credit exposure, valuation opacity, conflicts of interest in hedging/pricing, and uncertain tax treatment.
These securities are intended for investors who seek enhanced—but capped—equity upside, are comfortable with structured credit risk, and can tolerate limited liquidity and tax complexity through a three-year horizon.
JPMorgan Chase Financial Company LLC, garantita completamente da JPMorgan Chase & Co., offre Note Potenziate a Rendimento Limitato e Protetto collegate all'indice S&P 500. Ogni nota da $1.000 offre un rendimento positivo amplificato 2,0x su qualsiasi guadagno dell'indice, ma il rendimento totale è limitato da un Rendimento Massimo fissato alla data di prezzo (tra il 10,40% e il 14,40%). Le note includono un buffer negativo del 10%; gli investitori sono protetti dalle perdite dell'indice fino a questa soglia, ma perderanno l'1% del capitale per ogni ulteriore 1% di ribasso oltre il buffer. La scadenza è il 5 novembre 2026 con un'unica data di osservazione il 31 luglio 2025.
Il valore stimato all'emissione sarà almeno pari a $900 per ogni $1.000 di valore nominale, considerando le commissioni del dealer e un tasso di finanziamento interno. I pagamenti dipendono interamente dal credito di JPMorgan; le note non prevedono cedole, dividendi o diritti di voto. La liquidità sul mercato secondario non è garantita e qualsiasi offerta da parte di JPMS potrebbe essere a un significativo sconto. I rischi principali includono la possibile perdita del capitale, l'esposizione al rischio di credito dell'emittente/garante, la scarsa trasparenza nella valutazione, conflitti di interesse nella copertura/prezzatura e l'incertezza fiscale.
Questi titoli sono destinati a investitori che cercano un potenziale rendimento azionario migliorato ma limitato, che siano a loro agio con il rischio di credito strutturato e che possano tollerare una liquidità limitata e una complessità fiscale su un orizzonte di tre anni.
JPMorgan Chase Financial Company LLC, totalmente garantizada por JPMorgan Chase & Co., ofrece Notas Mejoradas con Retorno Limitado y Amortiguado vinculadas al índice S&P 500. Cada nota de $1,000 proporciona un aprovechamiento al alza de 2.0x sobre cualquier ganancia del índice, pero el pago total está limitado por un Retorno Máximo establecido en la fecha de fijación de precio (entre 10.40% y 14.40%). Las notas incluyen un amortiguador a la baja del 10%; los inversionistas están protegidos contra pérdidas del índice hasta ese monto, pero perderán un 1% del principal por cada 1% de caída adicional más allá del amortiguador. El vencimiento es el 5 de noviembre de 2026 con una única fecha de observación el 31 de julio de 2025.
El valor estimado en la emisión no será menor a $900 por cada $1,000 de valor nominal, reflejando comisiones del distribuidor y una tasa interna de financiamiento. Los pagos dependen completamente del crédito de JPMorgan; las notas no pagan cupones, dividendos ni otorgan derechos de voto. La liquidez en el mercado secundario no está garantizada y cualquier oferta de JPMS podría estar con un descuento significativo. Los riesgos clave incluyen posible pérdida de principal, exposición al crédito del emisor/garante, opacidad en la valoración, conflictos de interés en cobertura/precios y tratamiento fiscal incierto.
Estos valores están dirigidos a inversionistas que buscan un rendimiento mejorado pero limitado en acciones, que se sienten cómodos con el riesgo de crédito estructurado y pueden tolerar liquidez limitada y complejidad fiscal en un horizonte de tres años.
JPMorgan Chase Financial Company LLC는 JPMorgan Chase & Co.가 전액 보증하는 상품으로, S&P 500 지수에 연동된 상한이 설정된 버퍼형 수익률 향상 노트를 제공합니다. 각 $1,000 노트는 지수 상승에 대해 2.0배 레버리지된 상승 수익을 제공하지만, 총 수익은 가격 결정일에 설정된 최대 수익률(10.40%~14.40%)로 제한됩니다. 노트에는 10% 하락 완충 구간이 포함되어 있어 투자자는 지수 손실이 이 범위 내에서는 보호받지만, 완충 구간을 초과하는 1% 하락마다 원금의 1%를 손실하게 됩니다. 만기는 2026년 11월 5일이며, 단일 관찰일은 2025년 7월 31일입니다.
발행 시 추정 가치는 $1,000 명목가치당 최소 $900 이상으로, 딜러 수수료 및 내부 자금 조달률이 반영되어 있습니다. 지급은 전적으로 JPMorgan의 신용에 의존하며, 노트는 쿠폰, 배당금 또는 의결권을 제공하지 않습니다. 2차 시장 유동성은 보장되지 않으며, JPMS의 매수 호가는 상당한 할인 가격일 수 있습니다. 주요 위험 요소로는 원금 손실 가능성, 발행자/보증인 신용 위험, 평가 불투명성, 헤지/가격 책정 시 이해 상충, 그리고 불확실한 세금 처리가 포함됩니다.
이 증권은 상한이 있지만 향상된 주식 상승 수익을 추구하고, 구조화된 신용 위험에 익숙하며, 3년 투자 기간 동안 제한된 유동성과 복잡한 세금 문제를 감내할 수 있는 투자자를 위한 것입니다.
JPMorgan Chase Financial Company LLC, entièrement garantie par JPMorgan Chase & Co., propose des Notes Améliorées à Rendement Plafonné et Amorti liées à l'indice S&P 500. Chaque note de 1 000 $ offre un levier de 2,0x à la hausse sur toute hausse de l'indice, mais le paiement total est plafonné par un Rendement Maximum fixé à la date de tarification (entre 10,40 % et 14,40 %). Les notes comprennent un amortisseur de baisse de 10 % ; les investisseurs sont protégés contre les pertes de l'indice jusqu'à ce montant, mais perdent 1 % du principal pour chaque baisse supplémentaire de 1 % au-delà de l'amortisseur. L'échéance est fixée au 5 novembre 2026 avec une seule date d'observation le 31 juillet 2025.
La valeur estimée à l'émission sera d'au moins 900 $ pour 1 000 $ de valeur nominale, tenant compte des frais du distributeur et d'un taux de financement interne. Les paiements dépendent entièrement de la solvabilité de JPMorgan ; les notes ne versent ni coupons, ni dividendes, ni droits de vote. La liquidité sur le marché secondaire n'est pas garantie et toute offre de JPMS pourrait être à un rabais important. Les principaux risques soulignés incluent la perte potentielle du capital, l'exposition au risque de crédit de l'émetteur/garant, l'opacité de la valorisation, les conflits d'intérêts dans la couverture/la tarification et le traitement fiscal incertain.
Ces titres s'adressent aux investisseurs recherchant une hausse des actions améliorée mais plafonnée, à l'aise avec le risque de crédit structuré et capables de tolérer une liquidité limitée ainsi qu'une complexité fiscale sur un horizon de trois ans.
JPMorgan Chase Financial Company LLC, vollständig garantiert von JPMorgan Chase & Co., bietet Capped Buffered Return Enhanced Notes, die an den S&P 500 Index gekoppelt sind. Jede $1.000 Note bietet eine 2,0-fach gehebelte Aufwärtsrendite bei einem Indexanstieg, wobei die Gesamtrückzahlung durch eine am Preisfestsetzungstag festgelegte Maximale Rendite (10,40%‒14,40%) begrenzt ist. Die Notes enthalten einen 10%igen Abwärtspuffer; Anleger sind gegen Indexverluste bis zu diesem Betrag geschützt, verlieren jedoch 1% des Kapitals für jeden weiteren 1%igen Rückgang über den Puffer hinaus. Die Fälligkeit ist der 5. November 2026 mit einem einzigen Beobachtungstag am 31. Juli 2025.
Der geschätzte Ausgabewert liegt bei mindestens $900 pro $1.000 Nominalwert, was Händlergebühren und einen internen Finanzierungssatz berücksichtigt. Zahlungen hängen vollständig von der Kreditwürdigkeit von JPMorgan ab; die Notes zahlen keine Coupons, Dividenden oder Stimmrechte. Die Liquidität am Sekundärmarkt ist nicht garantiert, und jedes Angebot von JPMS könnte mit einem erheblichen Abschlag erfolgen. Wichtige Risiken umfassen potenzielle Kapitalverluste, Kreditrisiko des Emittenten/Garanten, Bewertungsintransparenz, Interessenkonflikte bei Absicherung/Preisgestaltung und unsichere steuerliche Behandlung.
Diese Wertpapiere richten sich an Anleger, die eine verbesserte, aber begrenzte Aktienrendite suchen, mit strukturiertem Kreditrisiko vertraut sind und eine begrenzte Liquidität sowie steuerliche Komplexität über einen Drei-Jahres-Zeitraum tolerieren können.
- 2× upside participation on S&P 500 gains, enhancing potential short-term returns.
- 10% downside buffer provides limited principal protection against moderate market declines.
- Defined payoff profile offers clarity on maximum gain (10.40%–14.40%) and loss mechanics.
- Return is capped; gains above ~10-14% are forfeited, limiting participation in strong rallies.
- Principal loss beyond 10% decline is linear and can be substantial in bear markets.
- Issuer and guarantor credit risk; payments depend on JPMorgan’s solvency.
- Estimated value ≤$900 implies an immediate 10% mark-down compared with issue price.
- Secondary market liquidity is not assured; investors may have to hold to maturity.
- No dividends or coupon income, reducing total return versus direct index exposure.
Insights
TL;DR: Leveraged upside to S&P 500 with 10% buffer, but capped return, credit risk, and illiquidity keep overall impact neutral.
The note offers 2× participation up to roughly 10-14%, equating to a maximum cash payoff of $1,104‒$1,144. The 10% buffer shields modest declines, yet a 30% index drop would still cost holders 20% of principal, making the risk/return profile asymmetric. Because payments hinge on JPMorgan’s credit rather than FDIC insurance, spreads on JPM senior debt directly affect secondary pricing. Estimated value at issuance (≤$900) signals an immediate mark-to-market discount of ≥10%, a common but material drag. From a market perspective this is a routine shelf-registered retail product; it neither alters JPM’s funding mix materially nor affects VYLD (the symbol in metadata appears unrelated). Consequently the filing is not market-moving but relevant for suitability and disclosure.
TL;DR: Product is niche, offers defined terms, but limited appeal versus ETFs; impact to JPM or broad markets is negligible.
For portfolio construction, capped notes such as this can complement core equity exposure by trading some upside for partial protection. However, the 10% buffer rarely compensates for forfeiting dividends (≈4% cumulative over three years) and accepting issuer credit risk. Liquidity constraints mean investors may be locked in until maturity. Given the small notional relative to JPMorgan’s balance sheet, issuance volume will not influence the bank’s leverage or capital metrics. I therefore classify the note as low-impact for institutional portfolios and neutral from a broad market viewpoint.
JPMorgan Chase Financial Company LLC, garantita completamente da JPMorgan Chase & Co., offre Note Potenziate a Rendimento Limitato e Protetto collegate all'indice S&P 500. Ogni nota da $1.000 offre un rendimento positivo amplificato 2,0x su qualsiasi guadagno dell'indice, ma il rendimento totale è limitato da un Rendimento Massimo fissato alla data di prezzo (tra il 10,40% e il 14,40%). Le note includono un buffer negativo del 10%; gli investitori sono protetti dalle perdite dell'indice fino a questa soglia, ma perderanno l'1% del capitale per ogni ulteriore 1% di ribasso oltre il buffer. La scadenza è il 5 novembre 2026 con un'unica data di osservazione il 31 luglio 2025.
Il valore stimato all'emissione sarà almeno pari a $900 per ogni $1.000 di valore nominale, considerando le commissioni del dealer e un tasso di finanziamento interno. I pagamenti dipendono interamente dal credito di JPMorgan; le note non prevedono cedole, dividendi o diritti di voto. La liquidità sul mercato secondario non è garantita e qualsiasi offerta da parte di JPMS potrebbe essere a un significativo sconto. I rischi principali includono la possibile perdita del capitale, l'esposizione al rischio di credito dell'emittente/garante, la scarsa trasparenza nella valutazione, conflitti di interesse nella copertura/prezzatura e l'incertezza fiscale.
Questi titoli sono destinati a investitori che cercano un potenziale rendimento azionario migliorato ma limitato, che siano a loro agio con il rischio di credito strutturato e che possano tollerare una liquidità limitata e una complessità fiscale su un orizzonte di tre anni.
JPMorgan Chase Financial Company LLC, totalmente garantizada por JPMorgan Chase & Co., ofrece Notas Mejoradas con Retorno Limitado y Amortiguado vinculadas al índice S&P 500. Cada nota de $1,000 proporciona un aprovechamiento al alza de 2.0x sobre cualquier ganancia del índice, pero el pago total está limitado por un Retorno Máximo establecido en la fecha de fijación de precio (entre 10.40% y 14.40%). Las notas incluyen un amortiguador a la baja del 10%; los inversionistas están protegidos contra pérdidas del índice hasta ese monto, pero perderán un 1% del principal por cada 1% de caída adicional más allá del amortiguador. El vencimiento es el 5 de noviembre de 2026 con una única fecha de observación el 31 de julio de 2025.
El valor estimado en la emisión no será menor a $900 por cada $1,000 de valor nominal, reflejando comisiones del distribuidor y una tasa interna de financiamiento. Los pagos dependen completamente del crédito de JPMorgan; las notas no pagan cupones, dividendos ni otorgan derechos de voto. La liquidez en el mercado secundario no está garantizada y cualquier oferta de JPMS podría estar con un descuento significativo. Los riesgos clave incluyen posible pérdida de principal, exposición al crédito del emisor/garante, opacidad en la valoración, conflictos de interés en cobertura/precios y tratamiento fiscal incierto.
Estos valores están dirigidos a inversionistas que buscan un rendimiento mejorado pero limitado en acciones, que se sienten cómodos con el riesgo de crédito estructurado y pueden tolerar liquidez limitada y complejidad fiscal en un horizonte de tres años.
JPMorgan Chase Financial Company LLC는 JPMorgan Chase & Co.가 전액 보증하는 상품으로, S&P 500 지수에 연동된 상한이 설정된 버퍼형 수익률 향상 노트를 제공합니다. 각 $1,000 노트는 지수 상승에 대해 2.0배 레버리지된 상승 수익을 제공하지만, 총 수익은 가격 결정일에 설정된 최대 수익률(10.40%~14.40%)로 제한됩니다. 노트에는 10% 하락 완충 구간이 포함되어 있어 투자자는 지수 손실이 이 범위 내에서는 보호받지만, 완충 구간을 초과하는 1% 하락마다 원금의 1%를 손실하게 됩니다. 만기는 2026년 11월 5일이며, 단일 관찰일은 2025년 7월 31일입니다.
발행 시 추정 가치는 $1,000 명목가치당 최소 $900 이상으로, 딜러 수수료 및 내부 자금 조달률이 반영되어 있습니다. 지급은 전적으로 JPMorgan의 신용에 의존하며, 노트는 쿠폰, 배당금 또는 의결권을 제공하지 않습니다. 2차 시장 유동성은 보장되지 않으며, JPMS의 매수 호가는 상당한 할인 가격일 수 있습니다. 주요 위험 요소로는 원금 손실 가능성, 발행자/보증인 신용 위험, 평가 불투명성, 헤지/가격 책정 시 이해 상충, 그리고 불확실한 세금 처리가 포함됩니다.
이 증권은 상한이 있지만 향상된 주식 상승 수익을 추구하고, 구조화된 신용 위험에 익숙하며, 3년 투자 기간 동안 제한된 유동성과 복잡한 세금 문제를 감내할 수 있는 투자자를 위한 것입니다.
JPMorgan Chase Financial Company LLC, entièrement garantie par JPMorgan Chase & Co., propose des Notes Améliorées à Rendement Plafonné et Amorti liées à l'indice S&P 500. Chaque note de 1 000 $ offre un levier de 2,0x à la hausse sur toute hausse de l'indice, mais le paiement total est plafonné par un Rendement Maximum fixé à la date de tarification (entre 10,40 % et 14,40 %). Les notes comprennent un amortisseur de baisse de 10 % ; les investisseurs sont protégés contre les pertes de l'indice jusqu'à ce montant, mais perdent 1 % du principal pour chaque baisse supplémentaire de 1 % au-delà de l'amortisseur. L'échéance est fixée au 5 novembre 2026 avec une seule date d'observation le 31 juillet 2025.
La valeur estimée à l'émission sera d'au moins 900 $ pour 1 000 $ de valeur nominale, tenant compte des frais du distributeur et d'un taux de financement interne. Les paiements dépendent entièrement de la solvabilité de JPMorgan ; les notes ne versent ni coupons, ni dividendes, ni droits de vote. La liquidité sur le marché secondaire n'est pas garantie et toute offre de JPMS pourrait être à un rabais important. Les principaux risques soulignés incluent la perte potentielle du capital, l'exposition au risque de crédit de l'émetteur/garant, l'opacité de la valorisation, les conflits d'intérêts dans la couverture/la tarification et le traitement fiscal incertain.
Ces titres s'adressent aux investisseurs recherchant une hausse des actions améliorée mais plafonnée, à l'aise avec le risque de crédit structuré et capables de tolérer une liquidité limitée ainsi qu'une complexité fiscale sur un horizon de trois ans.
JPMorgan Chase Financial Company LLC, vollständig garantiert von JPMorgan Chase & Co., bietet Capped Buffered Return Enhanced Notes, die an den S&P 500 Index gekoppelt sind. Jede $1.000 Note bietet eine 2,0-fach gehebelte Aufwärtsrendite bei einem Indexanstieg, wobei die Gesamtrückzahlung durch eine am Preisfestsetzungstag festgelegte Maximale Rendite (10,40%‒14,40%) begrenzt ist. Die Notes enthalten einen 10%igen Abwärtspuffer; Anleger sind gegen Indexverluste bis zu diesem Betrag geschützt, verlieren jedoch 1% des Kapitals für jeden weiteren 1%igen Rückgang über den Puffer hinaus. Die Fälligkeit ist der 5. November 2026 mit einem einzigen Beobachtungstag am 31. Juli 2025.
Der geschätzte Ausgabewert liegt bei mindestens $900 pro $1.000 Nominalwert, was Händlergebühren und einen internen Finanzierungssatz berücksichtigt. Zahlungen hängen vollständig von der Kreditwürdigkeit von JPMorgan ab; die Notes zahlen keine Coupons, Dividenden oder Stimmrechte. Die Liquidität am Sekundärmarkt ist nicht garantiert, und jedes Angebot von JPMS könnte mit einem erheblichen Abschlag erfolgen. Wichtige Risiken umfassen potenzielle Kapitalverluste, Kreditrisiko des Emittenten/Garanten, Bewertungsintransparenz, Interessenkonflikte bei Absicherung/Preisgestaltung und unsichere steuerliche Behandlung.
Diese Wertpapiere richten sich an Anleger, die eine verbesserte, aber begrenzte Aktienrendite suchen, mit strukturiertem Kreditrisiko vertraut sind und eine begrenzte Liquidität sowie steuerliche Komplexität über einen Drei-Jahres-Zeitraum tolerieren können.
North America Structured Investments 15m SPX Capped Buffered Return Enhanced Notes The following is a summary of the terms of the notes offered by the preliminary pricing supplement highlighted below. Summary of Terms JPMorgan Chase Financial Company LLC JPMorgan Chase & Co. $1,000 S&P 500 ® Index 2.00 [10.40% - 14.40%]* 10.00% (Final Value – Initial Value) / Initial Value The closing level of the Underlying on the Pricing Date The closing level of the Underlying on the Observation Date July 31, 2025 November 2, 2026 November 5, 2026 48136FCA8 Issuer: Guarantor: Minimum Denomination: Underlying: Upside Leverage Factor: Maximum Return: Buffer Amount: Underlying Return: Initial Value: Final Value: Pricing Date: Observation Date: Maturity Date: CUSIP: Preliminary Pricing Supplement: http://sp.jpmorgan.com/document/cusip/48136FCA8/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 $900.00 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, see the hyperlink above. Payment at Maturity If the Final Value of the Underlying is greater than its Initial Value, you will receive a cash payment that provides you with a return per $1,000 principal amount note equal to the Underlying Return multiplied by the Upside Leverage Factor, subject to the Maximum Return on the notes. If the Final Value of the Underlying is equal to or less than its Initial Value by up to the Buffer Amount, you will receive the principal amount of your notes at maturity. If the Underlying declines from its Initial Value by greater than the Buffer Amount, you will lose 1% of the principal amount of your notes for every 1% that the Underlying has declined beyond the Buffer Amount. Any payment on the notes is subject to the credit risk of JPMorgan Chase Financial Company LLC, as issuer of the notes and the credit risk of JPMorgan Chase & Co., as guarantor of the notes. * To be determined on the Pricing Date, but not less than 10.40% or greater than 14.40%. ** Reflects a Maximum Return of 10.40% for illustrative purposes. The hypothetical returns and hypothetical payments on the notes shown above apply only at maturity. 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 returns and hypothetical payments shown above would likely be lower. Hypothetical Returns on the Notes at Maturity** Underlying Performance Note Payoff at Maturity Payment at Maturity Underlying Return Hypothetical Payment at Maturity Hypothetical Note Return Hypothetical Underlying Return $1,104.00 10.40% 100.00% $1,104.00 10.40% 80.00% $1,104.00 10.40% 60.00% $1,104.00 10.40% 40.00% $1,104.00 10.40% 30.00% $1,104.00 10.40% 20.00% $1,104.00 10.40% 10.00% $1,104.00 10.40% 5.20% $1,100.00 10.00% 5.00% $1,000.00 0.00% 0.00% $1,000.00 0.00% - 5.00% $1,000.00 0.00% - 10.00% $950.00 - 5.00% - 15.00% $800.00 - 20.00% - 30.00% $500.00 - 50.00% - 60.00% $100.00 - 90.00% - 100.00% J.P. Morgan Structured Investments | 1 800 576 3529 | jpm_structured_investments@jpmorgan.com
North America Structured Investments 15m SPX Capped Buffered Return Enhanced Notes Ɣ Ɣ Ɣ Ɣ Your investment in the notes may result in a loss. Your maximum gain on the notes is limited by the Maximum Return. Your payment at maturity will be determined by the Underlying. If the Underlying declines from its initial level by more than 10.00%, you could lose up to $900 for each $1,000 note. Any payment on the notes at maturity 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. No interest payments, dividend payments or voting rights. JPMorgan Chase & Co. is currently one of the companies that make up the S&P 500 ® Index. As a finance subsidiary, JPMorgan Chase Financial Company LLC has no independent operations and has limited assets. Selected Risks Selected Risks (continued) Ɣ Ɣ Ɣ Ɣ Ɣ 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. Ɣ Ɣ Ɣ Ɣ Ɣ Ɣ The risks identified above are not exhaustive. Please see “Risk Factors” in the prospectus supplement and the applicable product supplement, Annex A to the prospectus addendum and “Selected Risk Considerations” in the applicable preliminary pricing supplement for additional information. Additional Information 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. IRS Circular 230 Disclosure: JPMorgan Chase & Co. and its affiliates do not provide tax advice. Accordingly, any discussion of 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 Chase & 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 these 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 J.P. Morgan Structured Investments | 1 800 576 3529 | jpm_structured_investments@jpmorgan.com
FAQ
What is the maximum potential return on the JPMorgan SPX Capped Buffered Notes?
How much downside protection do these notes provide?
When do the notes mature and how long is the investment term?
Are the notes exposed to JPMorgan’s credit risk?
Will I receive dividends from the S&P 500 while holding the notes?
Can I sell the notes before maturity?
