JPMorgan Chase Financial Company LLC is offering 7-year, auto-callable notes linked 1:1 to the J.P. Morgan Multi-Asset Index (ticker MAX). The notes are issued in $1,000 denominations, priced on 28-Jul-2025 and maturing on 28-Jul-2032, with JPMorgan Chase & Co. acting as guarantor.
The Index dynamically allocates among up to 10 excess-return, futures-based sub-indices across equities, fixed income and commodities, subject to a 4.0 % volatility target and a 1.00 % p.a. daily deduction. Participation in any positive Index return at maturity is 100 %.
Automatic call: on each annual Review Date the notes are redeemed early if the Index closes at or above a rising Call Value (Initial Value +1 % per year). Investors then receive their $1,000 principal plus a minimum 10 % per-annum Call Premium. If not called, principal is fully repaid at maturity and any positive Index performance is added, but negative Index performance does not reduce principal.
Estimated value will be no less than $900 per $1,000 note, reflecting dealer margin and funding costs. Payments are unsecured and subject to the credit risk of both the issuer and guarantor. The offering is made under prospectus dated 13-Apr-2023 and Rule 424(b)(3) filing dated 27-Jun-2025.