Inverse VIX S/T Futs ETNs due Mar22,2045 SEC Filings

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., plans to issue $1,000-denominated Market Linked Securities linked to the Class A common stock of Reddit, Inc. (RDDT) that mature on July 1, 2026.

The notes pay a contingent monthly coupon of at least 30.70% per annum whenever the Reddit stock closing price on the relevant calculation day is at or above the 65% threshold. Missed coupons are not lost: thanks to a memory feature they are paid on the next observation date that satisfies the threshold.

Beginning December 2025 the notes can be automatically called on any monthly calculation day that RDDT closes at or above the starting price; investors then receive par plus the final (and any accrued) coupon, ending the trade early.

If the notes are not called, principal is protected only when the final stock price is at least 65% of the starting price. Otherwise investors are fully exposed to downside, losing more than 35% – up to their entire investment.

The estimated initial value is roughly $961.30 per note (96.1% of par) and will not be less than $930.00, reflecting underwriting fees of up to 1.575% and JPMS’s internal funding rate. The securities are senior unsecured obligations subject to JPMorgan’s credit risk, lack secondary market liquidity and do not provide dividends or voting rights in Reddit shares. Detailed tax, valuation and risk disclosures appear in the accompanying preliminary pricing supplement.

JPMorgan Chase Financial Company LLC, a wholly-owned finance subsidiary of JPMorgan Chase & Co., is offering $2.908 million of Auto Callable Accelerated Barrier Notes linked to the STOXX® Europe 600 Index (SXXP). The unsecured notes price at $1,000 each, settle on or about 26 June 2025, and carry JPMorgan Chase & Co.’s full and unconditional guarantee.

Early-call feature: If on the single Review Date (3 July 2026) the index closes at least at the Call Value (100 % of the 20 June 2025 Strike Value of 536.53), the notes are automatically redeemed for $1,175 per $1,000— a 17.5 % premium—payable 8 July 2026. No further payments accrue thereafter.

Maturity mechanics (25 June 2029) for notes not called:

• Upside participation: 2.0× any positive Index return, uncapped.
• Principal protection: none. If the Final Value is ≥75 % of Strike (Barrier), principal is repaid at par; if below, repayment equals $1,000 × (1 + Index Return), exposing investors to a full one-for-one downside beyond the 25 % cushion.

Key economics: Call Premium = $175; Upside Leverage Factor = 2.00; Barrier = 75 % of Strike (402.3975). Estimated initial value is $981.20, 1.88 % below issue price; selling concession is $6 (0.60 %).

Risks highlighted: investors forgo dividends, may lose >25 %—up to 100 %—of principal; pricing and secondary value depend on JPMorgan’s credit, market volatility, and liquidity; automatic call truncates upside; the notes are not FDIC-insured.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering 2-Year Auto-Callable Contingent Interest Notes linked to GE Vernova Inc. common stock.

Key terms: minimum denomination $1,000; Pricing Date 27-Jun-2025; quarterly Review Dates; Maturity 02-Jul-2027. Investors receive a 15.00% p.a. contingent coupon (3.75% per quarter) only when the Reference Stock closes on a Review Date at or above the Interest Barrier (≤53.5% of initial price). If, on any Review Date other than the first or final, the stock closes at or above its Initial Value, the notes are automatically called for $1,000 principal plus the current coupon and no further payments.

Principal repayment: if not called and the Final Value is ≥ Trigger (same level as the Interest Barrier), holders receive principal plus the final coupon. If the Final Value is below the Trigger, repayment equals $1,000 × (1 + Stock Return), exposing investors to losses greater than 46.5% and up to 100% of capital.

Valuation & costs: the estimated initial value will be ≥$940 per $1,000 note, reflecting issuer funding spreads and structuring fees. Upside is limited to aggregate coupons; there is no participation in stock appreciation, dividends, or voting rights.

Risk highlights include credit risk of both issuing entities, absence of guaranteed interest, potential for early call, limited secondary-market liquidity, conflicts of interest in pricing and hedging, and uncertain tax treatment.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., plans to issue Market Linked Securities – Auto-Callable with Contingent Coupon (memory feature) linked to the Class A common stock of Reddit, Inc. (RDDT). Each $1,000 security matures 1 July 2026, unless automatically called earlier.

The notes pay a contingent coupon of at least 30.70% per annum, evaluated monthly. A coupon is paid only if Reddit’s stock closes on the calculation day at or above the threshold price, set at 65% of the starting price. Missed coupons accumulate and are paid once the condition is next satisfied. If the threshold is never met, no coupon is paid for the entire term.

An automatic call occurs on any monthly calculation day from December 2025 through May 2026 when Reddit’s share price is at or above the starting price. Investors then receive the $1,000 principal plus the current and any unpaid coupons, terminating the investment.

If the note is not called, repayment of principal on 1 July 2026 is contingent. Investors receive full principal only if Reddit’s final share price is at or above the threshold price. Otherwise, they are fully exposed to the downside, resulting in losses greater than 35% and up to 100% of principal. The notes provide no upside participation beyond the coupons and do not pay dividends.

Issue price is $1,000. Selling commissions to Wells Fargo Securities are up to $15.75, leaving net proceeds of $984.25. The preliminary estimated value is $961.30 (to be finalized, but not less than $930), demonstrating embedded costs. The securities are unsecured, unsubordinated obligations subject to the credit risk of the issuer and guarantor, are not FDIC-insured and are not listed on any exchange, limiting secondary-market liquidity.

Product overview: JPMorgan Chase Financial Company LLC will issue Auto Callable Contingent Interest Notes linked to the Class A shares of Shopify Inc., maturing on January 5, 2027. The notes are unsecured, unsubordinated obligations fully and unconditionally guaranteed by JPMorgan Chase & Co. Minimum denomination is $1,000; expected pricing is June 30, 2025 with settlement on July 3, 2025 (CUSIP 48136E5Q4).

Income mechanics: For any quarterly Review Date on which Shopify’s closing price is ≥50% of the Initial Value (the “Interest Barrier”), investors receive a Contingent Interest Payment of at least $37.875, equating to a Contingent Interest Rate of ≥15.15% p.a. If the barrier is not met, no interest is paid for that period.

Automatic call feature: Starting September 30, 2025, if Shopify closes on any non-final Review Date at or above the Initial Value, the notes are automatically called and holders receive $1,000 principal plus the applicable interest; no further coupons accrue.

Principal at risk: If the notes are not called and Shopify’s closing price on the final Review Date (December 30, 2026) is below the 50% Trigger Value, repayment equals $1,000 plus the stock return, exposing investors to one-for-one downside below the trigger. Principal loss can exceed 50% and reach 100%.

Key economics: The indicative estimated value is $960.30 per $1,000 note (final value ≥$900). Selling commissions may be up to $22.25 per note. Maximum cumulative coupon over six quarters is $227.25 if all interest conditions are met.

Risk highlights: Investors face equity risk in Shopify, credit risk in JPMorgan entities, potential illiquidity, lack of FDIC insurance, no guaranteed coupons, and the possibility of significant or total principal loss. The structure suits investors seeking high contingent yield and able to tolerate equity-linked risk.

Timeline: Review Dates: 30 Sep 2025, 30 Dec 2025, 30 Mar 2026, 30 Jun 2026, 30 Sep 2026, 30 Dec 2026; corresponding Interest Payment Dates fall three business days later; maturity is 5 Jan 2027.

Illustrative scenarios: JPMorgan shows (1) a 3.79% gain if called on the first Review Date; (2) an 11.36% total gain if held to maturity with Shopify ≥50% of initial; and (3) a 60% loss if Shopify is 60% below initial at maturity.

Prospective investors should carefully review the accompanying prospectus, product supplement and risk factors before investing.

JPMorgan Chase Financial Company LLC is offering $500,000 of Contingent Interest Notes due 24 Jun 2026 linked to the common stock of Rocket Lab USA, Inc. (RKLB). The notes pay a monthly contingent coupon of 1.91667% (23.00% p.a.) only if the reference share’s closing price on the relevant 12 review dates is at least 50 % of the strike price. The strike value is the 18 Jun 2025 close of $27.85; the interest barrier/trigger is $13.925.

If on any review date the barrier is breached, that month’s coupon is skipped. At maturity:

• If the final share price is ≥ $13.925, investors receive par plus any final coupon.
• If the final price is < $13.925, repayment equals $1,000 + ($1,000 × stock return), exposing investors to the full downside below –50 %, potentially losing all principal.

The notes are unsecured, unsubordinated obligations of the issuer and are fully guaranteed by JPMorgan Chase & Co. Issue price is $1,000; selling commission $2; net proceeds $998. Estimated value at pricing was $955.80 (≈ 4.4 % below issue price) due to embedded costs.

Key risk highlights include loss of principal below the trigger, possibility of receiving no coupons, issuer/guarantor credit risk, lack of liquidity (no exchange listing), and conflicts arising from JPMorgan’s hedging and secondary-market activities. The notes priced on 20 Jun 2025 and are expected to settle 25 Jun 2025 (CUSIP 48136EY25). Minimum denomination is $1,000.

JPMorgan Chase Financial Company LLC is offering $500,000 principal amount of Callable Contingent Interest Notes due June 28, 2030, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are unsecured, unsubordinated debt linked individually (not as a basket) to the performance of the Russell 2000 Index (RTY) and the S&P 500 Index (SPX).

Contingent interest. Investors will receive a monthly Contingent Interest Payment of $5.4583 per $1,000 (equivalent to 6.55% p.a.) for each Review Date on which both indices close at or above their respective Interest Barriers (75 % of initial levels: 1,602.13875 for RTY and 4,569.12 for SPX). If either index closes below its barrier on a Review Date, no interest accrues for that period.

Issuer call feature. JPMorgan may redeem the notes in whole on any Interest Payment Date from June 30 2026 onward (excluding the final date). Early redemption pays par plus the accrued Contingent Interest Payment.

Principal repayment. At maturity, if not previously called, investors receive: (i) par plus final interest if both indices are at or above their Buffer Thresholds (85 % of initial levels: 1,815.75725 for RTY and 5,178.336 for SPX), or (ii) par reduced by the percentage decline of the lesser performing index beyond a 15 % buffer. Maximum loss equals 85 % of principal.

Key economics. • Price to public: 100 % of face; selling commission 3.75 %. • Estimated value at pricing: $946.00 per $1,000. • Minimum denomination: $1,000. • CUSIP: 48136E4C6. • Settlement: on or about June 30 2025. • Offering registered under Rule 424(b)(2) (Registration Nos. 333-270004 and 333-270004-01).

Risks. Investors bear (1) equity market risk on each index, (2) loss of up to 85 % of principal if the lesser-performing index falls below its Buffer Threshold at final valuation, (3) contingent—not guaranteed—interest, (4) issuer early-call risk, which may cap upside, and (5) credit risk of JPMorgan Financial and JPMorgan Chase & Co.

The product suits investors seeking enhanced monthly yield tied to U.S. equity indices, who can tolerate equity downside, contingent coupons, and issuer call risk over a five-year horizon.

J.P. Morgan is offering 2-year, autocallable contingent-interest notes linked to the common stock of Micron Technology, Inc. (MU). The notes are issued by JPMorgan Chase Financial Company LLC and guaranteed by JPMorgan Chase & Co. Key terms include a 15.00% per-annum contingent coupon (3.75% paid quarterly) and quarterly observation dates from 27 June 2025 through 28 June 2027. If, on any quarterly review date other than the first or last, MU’s closing price is at or above the initial price, the notes are automatically called, returning the principal plus that period’s coupon.

Principal protection is conditional. Should the notes survive to maturity without being called and MU’s final price is at least the Trigger Value/Interest Barrier (≤52% of the initial price), investors receive par plus the final coupon. If MU has fallen below the Trigger on the final review date, repayment is $1,000 + ($1,000 × stock return), exposing investors to losses greater than 48% and up to 100% of principal.

Estimated value will be no less than $950 per $1,000 note; this is below the public offer price and reflects J.P. Morgan’s internal funding rate and hedging costs. The notes carry issuer and guarantor credit risk, are exposed to MU share performance, and lack dividends or voting rights. Secondary-market liquidity is uncertain; J.P. Morgan Securities may—but is not obliged to—make markets. Additional risks include limited upside (coupons only), potential early call forcing reinvestment at lower rates, tax uncertainty, and various conflicts of interest related to J.P. Morgan’s roles as issuer, hedge counterparty, and calculation agent.

The offering is described in a preliminary pricing supplement (CUSIP 48136FCR1). Investors should review the prospectus, supplements, and risk factors before investing.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., has filed a Rule 424(b)(2) pricing supplement for $484,000 aggregate principal amount of Uncapped Buffered Return Enhanced Notes linked to the S&P 500 Futures Excess Return Index (Bloomberg: SPXFP). The notes priced on 20 June 2025, will settle on or about 25 June 2025 and mature on 25 June 2030.

The securities are unsecured, unsubordinated obligations of the issuer and carry the full and unconditional guarantee of the parent company. Investors face both issuer and guarantor credit risk. Minimum denomination is $1,000.

Key Economic Terms

• Upside Leverage Factor: 1.70 × any positive Index Return at maturity (no cap).
• Buffer Amount: 20%. Principal is fully at risk beyond this threshold, with maximum loss of 80%.
• Initial Value: 495.10 (Index closing level on pricing date).
• Estimated value: $952.80 per $1,000 note (≈95.28% of face), indicating built-in fees/hedging costs.
• Price to public: 100% of face; selling commissions: 3.75% ($37.50 per note).
• Proceeds to issuer: $962.50 per note; total net proceeds $465,850.
• CUSIP: 48136EF59.

Payout Profile at Maturity

• If Final Value > Initial Value: Payment = $1,000 + ($1,000 × Index Return × 1.70).
• If Final Value declines ≤20%: 100% principal returned.
• If Final Value declines >20%: Loss of 1% of principal for every 1% decline beyond 20% (maximum repayment $200 if Index falls 100%).

Illustrative Outcomes:

• +10% Index return → 17% note return (=$1,170).
• -30% Index return → -10% note return (=$900).
• -50% Index return → -30% note return (=$700).

Risk Highlights

• No periodic coupons or dividends; total return realized only at maturity.
• Substantial downside risk (up to 80% principal loss) and no secondary-market liquidity assurances.
• Exposure to S&P 500 futures excess return rather than the price-return index, introducing roll yield and futures pricing effects.
• Commodity Exchange Act protections do not apply; the notes rely on a hybrid-instrument exemption.

Overall, the product offers leveraged upside over a five-year horizon with a 20% buffer, but embeds significant fees, credit exposure to JPMorgan entities, and potential for large principal loss. It suits sophisticated investors comfortable with structured products, equity-index futures dynamics, and issuer credit risk.