Alerian MLP Index ETN SEC Filings

JPMorgan Chase Financial Company LLC is offering complex market-linked AMJB securities tied to the lowest performing of Meta (META), ServiceNow (NOW) and Microsoft (MSFT). Each note has a $1,000 principal amount and pays no interest or dividends.

The notes are auto-callable on December 2, 2026: if the lowest performing stock is at or above its starting price, investors receive $1,500 per $1,000 note, a 50% call premium, and the notes terminate. If not called, at maturity on November 30, 2028 investors get $1,000 plus leveraged upside of at least 143.20% of the gain of the worst stock, if that stock is above its starting price.

If the worst stock is flat or down but at or above 50% of its starting price, principal is returned. If it finishes below this 50% threshold, repayment falls one-for-one with the decline, and investors can lose more than half, up to all, of principal. The notes are unsecured obligations guaranteed by JPMorgan Chase & Co., are not listed on an exchange, and carry issuer and guarantor credit risk. The preliminary estimated value is about $945.60 per $1,000 note and will not be less than $910.00, reflecting fees, commissions and hedging costs.

JPMorgan Chase Financial Company LLC is offering Euro Stoxx 50®‑linked Digital Equity Notes due January 14, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay no interest and the maturity payment depends on index performance between the trade date in November 2025 and the determination date on January 12, 2028.

If the final index level is at least 85.00% of the initial level, investors receive a fixed "threshold settlement amount," expected between $1,160.70 and $1,189.00 per $1,000 note, capping upside at roughly 16%–18.9%. If the index falls more than 15.00%, principal is exposed on a leveraged basis at a buffer rate of about 1.1765, and investors can lose all of their investment.

The notes are unsecured obligations subject to the credit risk of both the issuer and guarantor, are not FDIC‑insured, will not be listed on any exchange, and have an estimated initial value expected between $977.60 and $987.60 per $1,000 note due to structuring and hedging costs.

JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated callable contingent interest notes linked separately to the Energy Select Sector SPDR Fund (XLE), VanEck Gold Miners ETF (GDX) and iShares Silver Trust (SLV), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes run to October 28, 2027 and may be redeemed early at the issuer’s option on specified interest payment dates starting May 29, 2026.

Holders receive a contingent interest rate of at least 9.25% per annum, paid monthly, only if on a Review Date the closing price of each ETF is at or above 50% of its initial value; otherwise no interest is paid for that period. If held to maturity and each ETF finishes at or above its 50% Trigger Value, investors receive principal plus the final contingent coupon; if any ETF is below its Trigger Value, repayment is reduced one-for-one with the decline of the worst performer, and investors can lose more than 50% or all of their principal. The notes are not listed, carry liquidity and credit risk, and their estimated value at pricing will be below the $1,000 issue price per note.

JPMorgan Chase Financial Company LLC is offering structured “Review Notes” linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes can be automatically called on scheduled Review Dates starting in late 2026 if the Index closes at or above 90% of its initial level, paying back $1,000 per note plus a fixed call premium that increases over time.

If the notes are never called and, on the final Review Date in 2028, the Index is at or above 80% of its initial level, investors receive only their $1,000 principal per note. If the Index finishes below that 80% barrier, repayment is reduced one-for-one with the Index loss, and investors can lose all of their principal. The Index itself is reduced by a 6.0% per annum daily deduction and a notional financing cost, which weigh on returns. The estimated value at pricing is expected to be below the $1,000 issue price, and all payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured, unsubordinated Uncapped Buffered Return Enhanced Notes linked to the S&P 500® Futures Excess Return Index, maturing on December 1, 2028. Each note has a minimum denomination of $1,000 and pays no interest.

At maturity, if the index has risen, investors receive $1,000 plus the index gain multiplied by an upside leverage factor of at least 1.24. If the index is flat or down by up to the 20.00% buffer, investors receive their $1,000 principal. If the index is down by more than 20.00%, repayment is reduced 1% for each additional 1% decline, up to a maximum 80.00% loss of principal. A hypothetical example shows a 50.00% index decline leading to a $700.00 payment per $1,000 note.

If the notes priced on the described terms, the estimated value would be approximately $975.50 per $1,000 note and will not be less than $940.00 when set, reflecting selling commissions, hedging costs and issuer funding assumptions. The notes will not be listed, are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and their value can be adversely affected by market volatility, futures market disruptions, negative roll yields and secondary-market pricing factors.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering structured “Review Notes” linked to the MerQube US Large-Cap Vol Advantage Index, maturing on November 30, 2028, in minimum denominations of $1,000. The notes offer potential early redemption at a premium if, on any semiannual Review Date starting November 27, 2026, the Index closes at or above 90% of its initial level, triggering an automatic call that repays principal plus a Call Premium of at least 18.25% to 54.75% of principal, depending on the call date.

If not called, investors receive full principal at maturity only if the final Index level is at or above 80% of the initial level. If it is below this barrier, repayment is reduced one-for-one with the Index decline, and up to all principal can be lost. The underlying Index is a leveraged, volatility-targeting strategy on E-mini S&P 500 futures and is subject to a 6.0% per annum daily deduction, which materially drags on performance. The notes pay no interest or dividends, are unsecured obligations subject to JPMorgan credit risk, and are expected to have an estimated value of about $910 per $1,000 at pricing, below the price to public.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering callable contingent interest notes linked to the Class A common stock of Palantir Technologies Inc. (PLTR), maturing on June 8, 2027. The notes can pay a monthly Contingent Interest Payment of at least $16.375 per $1,000 (a rate of at least 19.65% per annum) for each Review Date when Palantir’s closing price is at or above 50.00% of the Initial Value, the Interest Barrier.

The issuer may redeem the notes early, in whole, on specified Interest Payment Dates starting March 6, 2026, paying $1,000 plus any due contingent interest, which would end further payments. If the notes are not redeemed early and the Final Value is at least 50.00% of the Initial Value, investors receive $1,000 plus the final contingent coupon at maturity; if the Final Value is below that Trigger Value, repayment is $1,000 plus $1,000 multiplied by the stock return, so principal losses can exceed 50% and reach 100%.

The notes are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., will not be listed on an exchange and may be illiquid. As of the trade-date assumption, the estimated value is approximately $950.90 per $1,000 note and will not be less than $900.00 when set, reflecting selling commissions, hedging costs and issuer funding rates.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the common stock of Target Corporation (TGT), maturing on November 30, 2027. The notes pay a quarterly contingent coupon of at least 13.50% per annum (at least $33.75 per $1,000) only if Target’s share price on a Review Date is at or above an Interest Barrier set at 60% of the initial share price.

The notes may be automatically called on specified Review Dates starting May 26, 2026 if Target’s share price is at or above the initial value, returning $1,000 per note plus the applicable contingent interest, with no further payments. If the notes are not called and Target’s final share price is below the 60% Trigger Value, repayment of principal is reduced one-for-one with Target’s decline, and investors can lose more than 40% and up to all of their principal.

The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial, subject to its and JPMorgan Chase & Co.’s credit risk. Estimated value is indicated at approximately $970 per $1,000 note, and will not be less than $950 per $1,000 when finalized, reflecting selling commissions, structuring fees and hedging costs. The product does not provide dividends on Target shares or guaranteed interest and is expected to be illiquid.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the common stock of Delta Air Lines, Inc. (DAL), maturing in December 2027. The notes pay a quarterly contingent coupon of at least 11.50% per annum (at least $28.75 per $1,000 note per quarter) only if DAL’s closing price on a review date is at or above 50% of its initial level, the interest barrier.

The notes may be automatically called on specified review dates starting in May 2026 if DAL’s price is at or above its initial level, in which case investors receive $1,000 plus the applicable contingent interest and the notes terminate. If the notes are not called and DAL’s final price is at or above the 50% trigger level, investors receive principal back plus the final contingent interest payment.

If the notes are not called and DAL’s final price is below the 50% trigger, repayment is reduced one-for-one with DAL’s loss, causing more than 50% loss of principal and potentially a total loss. Principal is unsecured and subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The estimated economic value is indicated at about $940 per $1,000 note initially, and not less than $920 per $1,000 when terms are set, reflecting embedded fees and hedging costs.