Alerian MLP Index ETN SEC Filings

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Uncapped Dual Directional Accelerated Barrier Notes linked to the Nasdaq-100 Technology Sector Index, the S&P 500 Index and the Russell 2000 Index, maturing on December 24, 2030. The notes aim to pay at maturity at least 1.62 times any positive return of the worst-performing index. If any index is at or below its initial level but all three stay at or above 70% of their initial levels, investors receive a positive return equal to the absolute decline of the worst index, capped at 30%, for a maximum payment of $1,300 per $1,000 note in that scenario.

If any index finishes below 70% of its initial level, the principal is exposed one-for-one to the loss of the worst index, and investors can lose most or all of their investment. The notes pay no interest, provide no dividends, are unsecured and unsubordinated, and depend on the credit of both JPMorgan Financial and JPMorgan Chase & Co. An indicative estimated value is about $966.50 per $1,000 note, reflecting selling commissions, hedging costs and issuer funding assumptions.

JPMorgan Chase Financial Company LLC plans to issue structured notes linked to the lesser performing of the EURO STOXX 50 Index and the iShares MSCI EAFE ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price around December 18, 2025 and mature on June 23, 2028, in minimum denominations of $1,000.

At maturity, if both underlyings finish above their initial values, investors receive $1,000 plus an additional amount based on the weaker performer and a participation rate of at least 100%. If either underlying ends below its initial value, repayment is reduced in line with the decline of the lesser performer, but not below $950 per $1,000 note. The notes pay no interest or dividends and expose holders to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

If the notes priced today, the estimated value would be about $963.80 per $1,000, and when finally set it will not be less than $900, reflecting selling commissions, hedging costs and issuer funding considerations.

JPMorgan Chase & Co. is offering callable fixed to floating rate notes due December 22, 2045. Investors receive an initial fixed interest rate of 11.00% per annum through December 23, 2027, paid quarterly, after which the rate resets each period to 1.25 × (7.00% − the Benchmark Rate), with a minimum of 0.00% per annum and the Benchmark Rate initially based on Compounded SOFR.

The notes are callable at the issuer’s option quarterly, starting December 23, 2027, at par plus accrued interest, so investors face reinvestment and call risk if rates fall. The notes are unsecured obligations of JPMorgan Chase & Co. and would rank behind claims of its subsidiaries in a resolution scenario described under U.S. “single point of entry” and Title II strategies.

The pricing supplement highlights risks from SOFR volatility, benchmark transition mechanics that can change the reference rate, limited secondary market liquidity and the possibility of 0% interest in later years. For U.S. tax purposes, JPMorgan currently intends to treat the notes as contingent payment debt instruments, requiring investors to accrue original issue discount based on a comparable yield, which may cause taxable income to differ significantly from cash interest received.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering six series of Capped Buffered Return Enhanced Notes linked separately to the EURO STOXX 50®, Nasdaq‑100, Russell 2000®, S&P 500®, iShares® MSCI EAFE ETF and iShares® MSCI Emerging Markets ETF, maturing on December 23, 2027.

The notes provide 2.00x leveraged upside on any positive performance of the relevant underlying, but gains are capped by a maximum return that varies by series (for example, indicative caps of about 18.75%–32.50%, depending on the underlying). A 10% downside buffer protects principal against modest declines; below that level, investors lose 1% of principal for each additional 1% drop, up to a loss of 90% of principal at maturity.

The notes pay no interest or dividends, are unsecured and unsubordinated obligations of the issuer, and will not be listed on any exchange, so liquidity will rely on dealer trading. If priced on the indicative date, estimated values are shown around the mid‑$970s per $1,000, and the final estimated value will not be less than $900. Key risks include issuer and guarantor credit risk, market and underlying‑specific volatility, pricing and valuation frictions, limited liquidity, and complex U.S. tax treatment.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering uncapped accelerated barrier notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500 indices, maturing on December 23, 2030. The notes target at least 1.48× any positive return of the worst-performing index at maturity, but repay only principal if any index is flat or down while all remain at or above 70% of its initial level. If any index finishes below this 70% barrier, repayment is reduced 1% of principal for each 1% decline in the least performing index, and principal loss can reach 100%.

The notes pay no interest, pass through no index dividends and are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. Minimum denomination is $1,000, and the notes will not be listed on an exchange, so liquidity will rely on dealer trading. If priced today, the estimated value would be about $930.60 per $1,000 note and will not be less than $900.00 per $1,000 at pricing, reflecting embedded selling costs and hedging economics.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering 5-year, auto-callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index. The notes have a minimum denomination of $1,000 and reference the index level, which reflects a 6.0% per annum daily deduction.

The notes pay a contingent interest rate of at least 10.50% per annum, credited quarterly at a rate of at least 2.625%, but only if on a review date the index is at or above a specified interest barrier. The notes can be automatically called on certain quarterly review dates if the index closes at or above its initial value, returning principal plus that period’s contingent interest.

If the notes are not called and, at maturity in December 2030, the index is at or above 50% of its initial value, investors receive principal plus the final contingent interest payment. If the final index value is below that 50% trigger level, repayment is reduced one-for-one with the index decline from the initial value, so investors can lose more than half, and up to all, of their principal. The estimated value at pricing will not be less than $900 per $1,000 note, and all payments depend on the credit of JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering 5-year, auto-callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index (MQUSTVA). The notes have a minimum denomination of $1,000 and are scheduled to price on December 19, 2025, with quarterly review dates and maturity on December 24, 2030.

The notes pay a contingent interest rate of at least 13.50% per annum, or at least 3.375% per quarter, but only if the index is at or above 60% of its initial level on a review date. They can be automatically called if the index is at or above its initial level on any review date other than the first and final. Principal is fully at risk below the 60% trigger at maturity, and payments depend on both the leveraged, fee‑reduced index performance and the credit of the issuer and guarantor.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering five-year, auto-callable contingent interest notes linked to the MerQube US Tech+ Vol Advantage Index (MQUSTVA). The index provides rules-based exposure to an unfunded position in the Invesco QQQ Trust, Series 1, subject to a 6.0% per annum daily deduction and a notional financing cost.

The notes have a $1,000 minimum denomination, quarterly review dates and an initial contingent interest rate of at least 9.50% per annum, paid quarterly at a rate of at least 2.375% if the index level is at or above a barrier set at 50% of the initial value. If on certain review dates the index is at or above its initial value, the notes are automatically called and pay back principal plus the applicable interest, with no further payments.

If the notes are not called and the final index value is at or above the trigger level, investors receive principal plus the final contingent interest payment. If the final value is below the trigger, repayment is reduced dollar-for-dollar with the index decline from the initial level, so investors can lose more than half, or all, of their principal. The estimated value at pricing will be at least $900 per $1,000 note, and all payments are subject to the credit risk of the issuer and guarantor.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering 3-year auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index. The notes have a minimum denomination of $1,000 and pay a contingent interest rate of at least 10.50% per annum, or at least 2.625% per quarter, but only if on a quarterly Review Date the Index is at or above 60.00% of its initial value.

If on any Review Date other than the first and final dates the Index closes at or above its initial value, the notes are automatically called and pay $1,000 plus the applicable contingent interest, with no further payments. At maturity, if not called and the final Index value is at or above the 60.00% Trigger Value, investors receive $1,000 plus the final contingent interest payment. If the final value is below the Trigger Value, repayment is $1,000 plus $1,000 times the Underlying Return, so investors lose 1% of principal for every 1% the Index has fallen and can lose their entire investment.

The Index uses leveraged E‑Mini S&P 500 futures exposure with a 6.0% per annum daily deduction and may be significantly uninvested or volatile. Payments depend on the credit of JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co., and the notes may be illiquid, may never pay interest, and have an estimated value lower than the $1,000 issue price.