Alerian MLP Index ETN SEC Filings

JPMorgan Chase Financial Company LLC filed a preliminary 424B2 for auto-callable Review Notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co., and due on December 2, 2031. The notes can be automatically called beginning August 26, 2026 if the Index is at or above the Call Value, paying the applicable Call Premium instead of continuing to maturity. The notes pay no interest or dividends and expose holders to loss of principal if, at maturity and not previously called, the Index falls below the Barrier Amount.

The Index applies a 6.0% per annum daily deduction, which drags performance versus an identical index without such deduction, and targets 35% implied volatility with exposure to E-mini S&P 500 futures between 0% and 500%. Pricing is in $1,000 minimum denominations (price to public per note: $1,000). Selling commissions will not exceed $12.25 per $1,000. If priced today, the estimated value would be about $952.30 per $1,000, and when set will not be less than $920 per $1,000. These unsecured, unsubordinated obligations are subject to the credit risk of JPMorgan Financial and the guarantor; they are not FDIC insured.

JPMorgan Chase Financial Company LLC plans to offer Capped Dual Directional Buffered Equity Notes linked to the S&P 500 Index, due November 26, 2027, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes target unleveraged index exposure with a Maximum Upside Return of at least 20.25% and a Buffer Amount of 15.00%. They pay no interest or dividends and returns are received only at maturity; investors risk losing up to 85% of principal. Minimum denominations are $1,000, with pricing expected on or about November 21, 2025 and settlement on or about November 26, 2025.

If the index rises, the maturity payment increases one-for-one up to the maximum; if the index is flat or down by up to 15%, the notes pay the absolute value of that decline as a positive return. Below the 15% buffer, principal is reduced beyond the buffer. If priced today, the estimated value would be approximately $985.20 per $1,000 note, and will not be less than $900.00 per $1,000 when set. Selling commissions paid by JPMS to dealers will not exceed $9.00 per $1,000 principal amount. The notes are unsecured, not FDIC-insured, will not be listed, and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $9,363,000 aggregate principal amount of Digital Equity Notes due 2027 linked to the S&P 500 Index. The notes pay no interest and return depends on index performance from the trade date to the determination date.

If the S&P 500 final level is at least 92.5% of its initial level, holders receive a fixed $1,101 per $1,000 note (a 110.10% cap). If it falls by more than 7.5%, principal is lost at approximately 1.0811% for each 1% decline beyond the buffer, up to total loss. Key dates: trade Nov 12, 2025, settlement Nov 17, 2025, determination Jan 12, 2027, maturity Jan 14, 2027.

Original issue price is 100% of principal; underwriting commission is 1.17%; net proceeds to the issuer are 98.83%. The estimated value was $982.90 per $1,000 at pricing. The notes are unsecured obligations subject to issuer and guarantor credit risk, are not listed, and may have limited liquidity.

JPMorgan Chase Financial Company LLC priced a $348,000 offering of Auto Callable Contingent Interest Notes linked to the MerQube US Large-Cap Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co., and due November 15, 2030. The notes are unsecured and issued in $1,000 minimum denominations.

The notes pay a Contingent Interest Rate of 11.25% per annum (2.8125% quarterly) only if, on a Review Date, the Index closes at or above 60% of the Initial Value (the Interest Barrier). Missed interest is paid later if a subsequent Review Date meets the barrier. The notes are automatically called if the Index on any non-final Review Date is at or above the Initial Value. If not called and the Final Value is below 60% (Trigger Value), principal is reduced one-for-one with Index decline, down to zero.

The Index embeds a 6.0% per annum daily deduction, which drags performance and can offset gains. Pricing details: price to public $1,000 per note, selling commissions $9, proceeds to issuer $991; estimated value $932.50 per $1,000 at pricing. Settlement is expected on or about November 17, 2025.

JPMorgan Chase Financial Company LLC priced a $1,000,000 offering of Auto Callable Accelerated Barrier Notes linked to the least performing of the Dow Jones Industrial Average, Nasdaq-100, and S&P 500, due November 16, 2028, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes may be automatically called on November 18, 2026 at $1,180 per $1,000 note (a $180 Call Premium) if each index is at or above its Call Value. If not called and all final index levels exceed their initial values, the maturity payout provides 1.50x the least-performing index’s gain, uncapped. Principal is returned at maturity if each final index level is at or above its 70% barrier; otherwise, repayment falls one-for-one with the least-performing index, risking substantial loss up to total loss.

The notes are unsecured, pay no interest, and forgo dividends. Minimum denomination is $1,000. Price to public: $1,000 per note; fees: $5 per $1,000; proceeds to issuer: $995,000. The issuer’s estimated value was $980 per $1,000 at pricing.

JPMorgan Chase & Co. is offering Callable Fixed to Floating Rate Notes due November 28, 2045. The notes pay 10.00% per annum during the initial interest periods through November 28, 2027, with quarterly interest paid on the 28th of February, May, August and November, beginning February 28, 2026.

After the initial periods, the interest rate resets each quarter to (7.55% − Benchmark Rate) × 1.25, floored at 0.00%. The Benchmark Rate is initially Compounded SOFR, with benchmark transition provisions if SOFR is unavailable. The notes are callable by the issuer, in whole, on the 28th of February, May, August and November from November 28, 2027 through August 28, 2045, at par plus accrued interest.

The price to the public is $1,000 per note. Selling commissions would be approximately $25.00 per $1,000 (not to exceed $40.00). The notes are unsecured obligations of JPMorgan Chase & Co., are not bank deposits, and are not FDIC insured. Tax disclosure indicates intended treatment as contingent payment debt instruments, with OID accrual for U.S. holders.

JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement for Auto Callable Yield Notes linked to the American Depositary Receipts of Novo Nordisk A/S (NVO), fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes target an interest rate of at least 11.85% per annum, paid quarterly at at least 2.9625%, and are scheduled to mature on November 22, 2027, with minimum denominations of $1,000.

The notes will be automatically called on any Review Date before maturity if the NVO ADR closing price is greater than or equal to the Initial Value; the earliest potential call is November 17, 2026. If not called, investors receive interest each quarter. At maturity, if the Final Value is at least the Trigger Value (60% of Initial Value), principal is returned plus the final interest. If the Final Value is below the Trigger Value, repayment is reduced as $1,000 + ($1,000 × Stock Return), which can result in loss of more than 40% and up to all principal. Indicative estimated value was approximately $970 per $1,000 (not less than $950 when set). Selling commissions are up to $17.50 and structuring fee up to $1.00 per $1,000 note.

JPMorgan Chase & Co. plans a primary offering of Callable Fixed Rate Notes due November 28, 2050 under a preliminary pricing supplement. The notes pay a fixed 5.60% annual interest rate, with interest paid in arrears each November 28, beginning in 2026, on a 30/360 basis. At maturity, holders receive principal plus accrued interest if the notes have not been called.

The issuer may redeem the notes in whole on the 28th of February, May, August, and November, starting November 28, 2027, at par plus accrued interest. Key conventions include Following Business Day and Unadjusted Interest Accrual.

Indicative economics: for certain institutional or fee-based accounts, the price to the public will be between $937.60 and $1,000 per $1,000 note. If priced today, selling commissions would be about $11.00 per $1,000 note and will not exceed $50.00. Tax counsel opines the notes are treated as fixed-rate debt instruments. Resolution planning language highlights that unsecured creditors, including noteholders, could bear losses in a recapitalization scenario.

JPMorgan Chase & Co. filed a preliminary pricing supplement for Callable Fixed Rate Notes due November 28, 2045. The notes pay 5.60% per annum, with interest paid annually on November 28, beginning in 2026. The issuer may redeem the notes in whole on the 28th of May and November each year from November 28, 2027 to May 28, 2045 at par plus accrued interest, with at least five business days’ notice to DTC.

Key terms include a Following Business Day Convention, Unadjusted interest accrual convention, and 30/360 day count. The stated price to the public is $1,000 per $1,000 principal amount (eligible advisory accounts: $950.10–$1,000). Selling commissions would be approximately $5.00 per $1,000, not to exceed $45.00 per $1,000. The notes are not FDIC insured.

Risk highlights note JPMorgan’s single-point-of-entry resolution framework, under which unsecured creditors, including noteholders, bear losses after equity. Tax counsel expects treatment as fixed-rate debt instruments.