Offering summary: These notes are unsecured, unsubordinated obligations of JPMorgan Chase Co. They pay a fixed interest rate of 5.50% per annum, with interest payable annually on June 23 beginning June 23, 2026 through June 23, 2034 and at maturity. The Original Issue Date is June 23, 2025 and the Maturity Date is June 22, 2035. Notes may be purchased in minimum denominations of $1,000 and integral multiples thereafter.
Key mechanics and risks: The issuer may redeem the notes in whole (not in part) on each scheduled Redemption Date (June 23 and December 23 of each year) beginning June 23, 2027 through December 23, 2034, in which case holders receive principal plus accrued interest to but excluding the Redemption Date. Payment at maturity or upon redemption is subject to JPMorgan Chase Co.'s credit risk. The prospectus highlights material risks including potential early call (reinvestment risk), longer-dated interest-rate sensitivity, limited liquidity, potential conflicts of interest, built-in issuance/hedging costs that can depress secondary prices, and loss-absorbing treatment under TLAC rules in resolution.
JPMorgan Chase Financial has filed a Free Writing Prospectus for 2.5-year Auto-Callable Contingent Interest Notes linked to Nasdaq-100, Russell 2000, and S&P 500 indices. The notes, priced at $1,000 denomination, offer a contingent interest rate of 9.00% - 11.00% per annum, paid monthly if certain conditions are met.
Key features include:
- Automatic call feature triggers if all underlying indices exceed initial values on review dates
- Interest payments contingent on all indices staying above 70% of initial values
- Principal at risk if any index falls below trigger value (70% of initial value) at maturity
- Estimated value will not be less than $900 per $1,000 note
Notable risks include potential loss of principal, credit risk of JPMorgan Chase, limited appreciation potential, and early exit risk due to auto-call feature. The notes mature on January 4, 2028, subject to early call provisions.